Overview of Budget Fields and Calculations
Updated
Overview of Budget Fields and Calculations
Views are a way to view the Budget data. There is a default budget view that is created in the system with the pre-set system fields that contain the main information in regards to the budget. However, additional custom views can be created, the default view can be modified or deleted or a different default view can be set.
The pre-set, system defined Budget Field calculations can not be changed. See Calculated FIelds below for the description. These Calculated can be displayed in Budget views, they can have different filters or parameters assigned (for example only show Approved Commitment Change Orders versus all Commitment Change Orders in any status) and they can also be used to create custom calculations.
Preset Budget Calculated Fields
Data Source | Definition/Calculation |
Original Budget | Entered Budget Amount |
Budget Modifications | Total Calculation of Budget Modifications (net amount of modifications) |
Revised Budget | Original Budget + all Budget Modifications |
Pending Budget Changes | Contracts with statuses: o Out for bid o Out for signature AND Contract Change Orders with statuses: o In Review o Pricing o Proceeding o Revised |
Projected Budget | Revised Budget + Pending Budget Changes |
Committed Costs | Commitments with statuses: o Approved o Complete o Closed AND Commitment change orders with statuses: o Approved AND Direct Costs with statuses: o Approved |
Direct Costs | All Direct Costs |
Pending Cost Changes | Commitments with statuses: o Processing o Out for bud o Out for signature o Submitted o Partially Received o Received AND Commitment change orders with statuses: o In Review o Pricing o Proceeding o Revised AND Direct Costs with statuses: o Pending |
Projected Costs | Committed Costs + Pending Costs |
Forecast to Complete | IF auto-calculated (not manually overridden): Projected Budget - Projected Costs IF manually overridden, will always be the total of the forecast line items |
Contracts | Contracts (filters can be set as to which Contracts) |
Contract Change Orders | Contract Change Orders (filters can be set as to which Contract Change Orders) |
Commitments | Commitments (filters can be set as to which Commitments) |
Commitments Change Orders | Commitments Change (filters can be set as to which Commitment Change Orders) |
Payable Invoices | Payable Invoices (filters can be set as to which Payable Invoices) |
Receivable Invoices | Receivable Invoices (filters can be set as to which Receivable Invoices) |
Unit Price | Unit Price |
Quantity | Quantity |
Approved Changes | Approved Changes |
Create Custom Calculations
Any of the preset Budget Fields can be used to create custom calculations.
The fields can be selected and other fields can be added, subtracted, divided multiplied to any other fields or multiple other fields.
The results can be displayed as dollar values, percentages or integers (rounded to the nearest whole number).
Custom Calculations are created when creating Budget Views.
