Budget - Overview

Budget - Overview

The Budget for a project consists of all the items required to complete the project work.

The items to be added to the Budget are selected form a set of predefined Categories/Cost Codes (that are either from industry standard lists or setup by each general contractor) and Types (such as labour, material, equipment etc.). 

For each of the line items on the budget, the amount expected to be received from the Owner(s) as payments for that item is tracked and managed as well as what is owed to subcontractors or vendors for the work required to deliver that item.




Tracked as

Payments from Owners

Accounts Receivables

“Contracts” amounts

Payments to Subcontractors or Vendors

Accounts Payables

“Direct Costs”, “Subcontracts” or “Purchase Orders”

(also referred to as Committed Costs)


Invoices can be tracked and managed in the system in both the form of receivables and payables and also are reflected in the budget. 

If integration to an ERP is turned on, from the Budget form, the project can be linked to the project in the ERP system. 

Line Items on the budget get created in different ways:

·       Manually entered

·       Bulk imported from an Excel spreadsheet or CSV file

·       Automatically created via separate entry of a Direct Cost, Subcontract, Subcontract Change Order or Purchase Order or Invoice (any item with a Schedule of Value will be automatically created to the Budget).

 Manually entered

Manually created line items on the Budget is part of the standard practice, i.e. identify the work required and enter as line items via cost codes and types and the budgeted amount. 

After a line item is created on the budget, when a Contract, Commitment (Subcontract or Purchase Order), Change Order, Direct Cost, or Invoice line item is created, it will automatically update the line item for that cost code and type.

Note* The status of Contracts, Commitments etc. impact when information appears on a Budget (for example a draft Contract won’t appear until its Approved.


Automatically created

When a Contract, Commitment (Subcontract or Purchase Order), Change Order, Direct Cost, or Invoice line item is created for a Cost Code and Cost Type that are not on the budget already, the system will automatically add an "Unbudgeted Line Item" in order to represent those values on the budget.  This way you can see that you did not budget for this cost code and cost type.  These Unbudgeted line items will appear in red shading on the budget with an exclamation mark to the left side. 

See: Adding an Unbudgeted Line Item to the Budget

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