Overview

Budget Approval Phases allow you to save a snapshot of your budget in time. As your budget evolves from an initial concept budget all the way to final budget approval, you can save versions as you go and refer back to them.

Prerequisites

Build your project budget to save it as an Approval Phase.

Process

Once you have created and filled out the values within your budget:

Click Submit for Internal Approval and save it as a Phased Approval.
Add an Approval Name and choose Phase Approval for the Approval Type.

Using Phased Approval will allow you to save a snapshot of the budget and then continue to make updates using Column A.

Navigate to the Snapshots and Approved Phases tab. Here, you will see the Master Project Budget that needs approval. You can click on 'View Snapshot' to view the snapshot of the budget.

To proceed with approving the budget shown on the snapshot, click on 'Open Approvals'.

You will then see the option to reject or approve the budget.

Only choose Final Approval if you are ready to set your budget as final and lock in the amounts in Column A, Original Budget.

If you have a financial approval workflow configured for Budgets, this budget approval phase will be sent through the workflow for approval. To better understand this topic, review the Configure Project Settings: Financial Approval Workflows help article.

Viewing your Budget Approvals & Snapshots

Once you have approved your budget snapshot, you can find it on the Snapshot and Approval Phases tab of the budget.

Here, you can view the snapshots you have submitted in List or Cards view:

Click View Snapshot to see a view-only display of your saved budget snapshot.

Using the Cards view, you can compare your budget versions:

Choose one version and then click the 3 dots > Compare with another option.
Choose the other version to compare against by clicking the checkbox next to it.

Now, the snapshot cards will show the changes to the values of each category and cost code.