From the Budget Manager, GC’s can create new budget line items from the top section of the page.
Select Division / Cost Code: Click on the 'Division / Cost Code' field. It will display a list of cost codes, grouped under the 16-Division Master Format. These values are derived from the 'Cost Code for 16 Division Master Format' in the System List Manager. Pick the appropriate cost code that matches your budget item.
Choose Cost Type: Next, click on the 'Cost Type' field, and a dropdown list will appear. The available options are derived from the 'Cost Type' System List in the List Manager. Select the cost type that best describes your budget line item.
Set Estimated Start and End Dates: Select the 'Est. Start Date' and 'Est. End Date' using the date picker. These dates will help you track the timeline for your budget item.
Enter Curve: Pick from one of the 3 options -
Front Loaded: Most expenses occur early in the budget period
Back Loaded: Most expenses occur later in the budget period
Linear: Expenses are evenly distributed throughout the budget period
Enter Original Budget: In the 'Original Budget' column, enter the amount in the currency that is set for your project. You can type in the value directly or calculate it using the provided calculator button.
If you choose to calculate the 'Original Budget’ using the calculator, follow these steps:
Unit of Measure: This field is based on the 'Cost Type' you selected. It can point to the 'Unit of Measure - Time' or 'Unit of Measure - Quantity' list in the List Manager.
Unit Quantity: Enter the quantity, a numeric value.
Unit Cost: Input the unit cost in this field.
Calculate Button: Click on the 'Calculate' button. The product of 'Unit Quantity' and 'Unit Cost' will be automatically calculated and populated in the 'Original Budget' field
Adding the Budget Line Item: After you have filled in the necessary details, click on the 'Add Item' button. Your new budget line item will be added to the system and displayed in the grid, as shown in the image.
Once the budget line item has been successfully added, it gets added as a new row in the Budget Manager grid. Details regarding each of the items are represented in the grid columns. If you need to make any changes or updates to your budget line items, you can double-click on the budget line item to view/manage other details.
Note: The Budget Manager module is only accessible to those with the ‘Create & Manage Budget’ permission
Last Updated: Dec-11-23