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How to Edit Your Approved Master Budget
How to Edit Your Approved Master Budget

This guide will empower you to make critical edits to your approved budget, ensuring it aligns with your evolving project needs.

Cara Alva avatar
Written by Cara Alva
Updated this week

Important:

  • In order to edit a budget, you will need to revert it to draft. This will also delete all approval phases and snapshots of what your budget looked like at the time of approval.

  • By deleting the latest approval phase, you will no longer have a record of that approval and/or rejection.

  • To add, remove, or move money between cost codes, we recommend using a Budget Change to maintain consistent records and save time!

Overview

Managing your master budget just got easier with the ability to adjust key components and navigate approval phases efficiently. Learn how to revert your budget back to draft status, delete approval phases, and make strategic budget changes without compromising records.

Process

How to Revert your budget back to Draft status:

  1. Navigate to the Master Project Budget/ACR module.

  2. Click on the three dots in the top right and select "Revert to Draft".

    IMPORTANT: This will revert the budget to draft status, delete all approval phases and snapshots, and delete all budget changes that have been added. This cannot be undone.

How to Delete an Approval Phase:

  1. Navigate to your Master Project Budget/ACR.

  2. Click on the three dots in the top right and select "Delete Latest Approval". This will delete the most recent approval.

    If there are more approvals in the Snapshots and Approval Phases tab of the budget you would like to remove, each one will need to be removed by following the last 2 steps.

What can I edit in an Approved Budget?

You can edit the following even when the Budget is fully approved:

  • Add a Cost Code, Category, and Phase.

  • Edit Cost Code name and code number.

  • Move money from one cost code to another (Budget Change).

  • Add Currency Conversion.

  • Share Budget with your Client.

What can I edit in a draft Budget?

You will need to revert the budget to draft in order to perform the following:

  • Delete a cost code.

  • Start a Feasibility Study.

  • Edit the values in the Original Budget Amount Column A.

  • Append a template of cost codes.

    By following the steps outlined in this guide, you can confidently make necessary adjustments while keeping your records intact.

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