Create a budget

Setting up a new budget

To set up a new budget


Click here to view ProjectCentre's Creating Budgets Training Video




  1. Select Contracts Admin from the Module Menu.
  2. Select Budget from the sub-menu.

  3. The Budget Register will display in the list frame.
  4. Click New
  5. A new budget will display.


  6. Action the Budget to the Contracts Administrator/Project Manager and to anyone who needs access the Budget.

    Note: Only those users addressed on this budget will have access to this budget. No one else can access or even see it listed on the budget register.

  7. Leave the Status as "DRAFT". This allows you to save and edit the budget until complete.  We recommend the budget be kept in Draft status until you are ready to issue it.
  8. Give the budget a title which will display on the budget register.  
  9. Add line items into the fields. Each line item on the budget represents a contract (or a contingency if applicable).
  10. The Item ID is automatically assigned.
  11. Add a Description for the item. Press [Tab] to go to the next field.
  12. Enter a Code (if applicable).  This is optional and designed to be a reference field to correspond with a code from an external Cost Accounting System (such as Jobpac,Coins or JD Edwards). Press [Tab] to go to the Budget field.
  13. Enter the dollar amount budgeted for this item. Click .
  14. To enter a budget line item from a different budget, Click .
    Note: This will insert the total budget line item from a different projects budget.

    Navigating Budget Entry Process:



    To insert a row for a new line item: Select the line you directly above the line you would like to create and click
    To indent a line item to create a sub-category: Select the line and click the keys to indent.  
    To un-indent a line item: Select the line and click the key to un-indent.
    To delete a line item: Select it and click  

    Note: When you indent items, the main item's amount is overwritten by the sum of the indented items.

  15. Click Submit .
    Note: your DRAFT budget is saved in the Budget Register and under DRAFTS on your Hotlist.
  16. Review your budget. The budgeted amounts are shown in the Original Budget column. Click Respond to add items or make any changes.
  17. Click Submit.
  18. You must Issue the budget before you can add  Contract to each item on the budget.
    Note: You may issue a budget in either an open or closed status. If a budget is issued in an open status - it may be edited. Once the budget is issued in a closed status, the original items cannot be changed.

    Notes:
    1. Each line item represents a "cost centre" to which you will link your contract sum.
    2. The Budget Proposed/Approved columns are only used when submitting Budget Variations or Budget Transfers.
    3. The only columns that will be populated when the budget is created is the original and the current.

    To make changes to your budget

    1. Click here to learn how to create a Budget Variance
    2. Click here to learn how to create a Budget Transfer
    3. Click here to learn how to create a Budget Forecast
    4. Click here to understand your budget Your Budget