Budget Setup

Main budget is a budget group that may be identified by associating a WBS or OBS with a budgeting reporting and entry type. For example, budget for client NUMBER ONE can be setup for time or expense. Main budgets can be defined by level1 or level1/level2 and then distributed across different levels, operating units, departments, and/or employees. Additionally, expense budgets can be distributed across expense type groups or expense types.

Note that once a main budget is created, other budgets have to follow the same WBS/OBS structure. That is, consider a WBS structure consisting of Project A and Job 1 and Job 2. If a main budget is created for Project A and no specific Job (level 2 is set to all), another budget cannot be created for Project A and Job 1 or Job 2 since both of these are included under the main budget Project A, Job ALL. In this scenario, the main budget consists of Project A and should then be distributed across Job 1 and Job 2 of Project A. Similarly, had a main budget for Project A and Job1 been created first, then a main budget for just Project A with no Job specified would not be possible

Budgets are defined using an date range. Should the budget require updating, a new main budget can be created using a new date range. However, using this method, no comparison reports showing differences between these budgets are possible. If such reports are needed, it is recommended to have different budget types. In this case, reports can be generated showing the differences between these two budgets.

Budget Setup without WBS

1. Click on Budget on the menu.
2. Click Add.
3. Enter a descriptive name in the Name field.
4. Select a budgeting start date in the Start Date field.
5. Enter the end date of this budget in the End Date field
6. Select the budget type in the Budget Type field.
7. Select the reporting type in the Reporting Type field.
8. Select either time or expense in the Entry Type field.
9. Click Save
   

To add hours to the budget click the Hours or Edit/Time Budget Editor

Budget Setup using WBS

1. Click on WBS menu.
2. Select level1 or level2 in the WBS for which the budget will apply.
3. Click Budget.
4. Click Add button to create an new budget.
5. Enter a descriptive name in the Name field.
6. Select a budgeting start date in the Start Date field.
7. Enter the end date of this budget in the End Date field
8. Select the budget type in the Budget Type field.
9. Select the reporting type in the Reporting Type field.
10. Select either time or expense in the Entry Type field.
11. Click Save.

To add hours to the budget click the Hours or Edit/Time Budget Editor