Overview
The Project Budget is your go-to spot for all of your project financials. Use this article to learn how to set up your budget structure, including cost codes, categories, and phases.
Prerequisites
If your budget will use a company Project Cost Codes template, the template should first be configured by your workspace Administrators.
Owner's Rep workspace only: Be sure you are on the desired budget by clicking the tab at the top right and selecting either Owner Budget or Your Budget. To understand the difference between these budgets, review the Owner Budget & Your Budget help article. Most likely, you will be using the Owner Budget.
Process
You can use a template to build your project budget or add categories and cost codes individually. You can also rename categories and cost codes directly on your budget.
If Using a Cost Code Template
Within the Project, go to the Project Budget Module:
Click Create Single Master Budget. To understand the Feasibility Study option, review the Creating Budget Option Feasibility Studies help article.
2. Click Apply Template.
The pop-up window will display the templates available in your workspace. Your workspace Administrators configure these. Choose the appropriate one and click Apply.
Once you confirm your base currency, you can click Proceed.
TIP: If you are unsure which template to use, click the Preview button to preview a template before applying it.
Your budget will populate with the categories and cost codes from the template. You can start from a template and make modifications as needed.
Note: The template won't include your Budget Item Lines Amounts; you still need to add them using another template or enter them manually.
If Adding Categories and Cost Codes Individually
If you are not starting from a template:
Note: We strongly recommend starting from a template to save time. Your company may require you to use a template to ensure consistency across your organization. If you are unsure, check with your workspace Administrators.
Your budget structure can include categories and cost codes.
To add those items manually:
Click + Add Category & Cost Code.
You can use inline editing to add the Category Name and Cost Code.
Edit Existing Categories and Cost Codes
Once a category or cost code is on your budget:
Edit it by clicking the 3 dots >
Edit. Delete a category or cost code by clicking the 3 dots >
Remove.
You can also click directly on the Category or Cost Code to edit it inline.
Adding Phases to your Budget
If your project is multi-phase, you can include multiple Phases in your budget. For example, you may have one Phase called "Building A" and another Phase called "Building B."
To add a Phase, click + Add > Phase
Once the Phases are added, you'll notice that all your cost codes uploaded prior to creating the phase, will be nested within the first Phase created. Note that you can repeat a cost code template across multiple phases or upload a different template.
Drag and Drop Feature
You can now drag and drop cost codes and categories to easily rearrange them.
Bulk Select and Remove
Select multiple cost codes or categories and remove them all at once.
Budget Sharing
Budget sharing is available as an option. Just make sure your client is on the system. Budgets can be shared with clients, but not with vendors.
You can do this by clicking Share Financials.
Additional Features
You can now take a snapshot of your budget's current state and continue to edit it while keeping a record of a previous version.
You can change the column view for your budget by using the Standard view drop-down outlined below.
If you’d like a condensed or customized version of the columns, please refer to our Budget Layout Views article.
You can add a budget dashboard by clicking the graph icon outlined below.
Quick Tip 💡
Use the Full Screen button to expand or condense your budget for easier viewing. These controls help you see more cost data at once with less scrolling!
Once your budget structure is in place, you can start preparing your Original Budget by adding the Budget Item Lines!
See Also