What is the Budget What is the Budget Object
The Budget Object is a tool, which represents the financial allocation and tracking component for a project. It is a structured entity that helps project managers plan, monitor, and control costs to ensure that the project stays within an approved budget. The Budget Object is also the primary object that is part of the Financial Module in the application which consists of two tabs “Budget Tab” and the “Cashflow” tab.
Quick info: The financial module includes three objects for budgeting purposes which is the Budget Object, Invoice Object & the Change Register Object.
Budget Tab
View of the Budget Tab
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Activating the Budget object in your Project
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The original budget value will also change to 100,000.000 and will roll up to the budget type respectively.
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Values in “Red” would show you that there is a Change sent to Increase the budget figure on the respective Budget. for an example.
Original Budget Value on the grid is 101,000.000
Change to Increase on the Budget value is 1000.000 this change is shown in the Grid in Red once approved from the change register.
The original budget value will also change to 100,000.000 and will roll up to the budget type respectively.
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Save - Clicking on the save button will allow you to save changes made to any Budget Types and lines within the Budget Grid.
Upload - This allows you to upload data through a data upload wizard. you can refer below for more details on the Data Upload wizard.
Export - This allows you to Export budget data within the grid into an excel document.
Filter - Thid button will be enabled to you when the “Reporting Year” functionality is activated within your table view. You can filter budget data for selected 'Reporting Years' and respective 'Budget Types/Lines.' Once the filter is applied, the filter button will change color and indicate that the data is already filtered.
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Adding a new reporting year can be conducted by clicking the 'Add New' button. You are only allowed to add new reporting years based on the project timeframe.
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Duplicating a Budget type
You can click on the 'Duplicate' button to duplicate the budget type. You will only be allowed to duplicate the budget hierarchy within the project timeframe, and it will only duplicate the rows without carrying forward any data.
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Duplicating a Budget linetype
You can simply click on the 'Duplicate' button which is placed on the Budget Type to duplicate a the budget linetype. You will only be allowed to duplicate the budget hierarchy within the project timeframe, and it will only duplicate the rows without carrying forward any data.
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Deleting a Reporting Year / Budget Type / Budget Line
You can simply delete a reporting year / budget type / budget line by clicking the 'Delete' button. Reporting years Budget data cannot be deleted if there are purchase orders linked to the budgets OR if there are change requests linked to the reporting year budgets. All links to purchase orders must be removed before deleting a reporting year / budget type / budget line, as you will be prompted with an error message.
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The budget object is implemented within allowing users to give inline editing. Budget values can be edited only in budget line level. If there are no any formulas added to a particular field in budget object configuration area or if a particular field will not get data from any other object within the workflow, use can edit the values from the budget line level of that field.
Once user update a value in budget line level, the rollup should be performed. Also, if that field is used in a formula, that formula added field also should be updated accordingly.
Delete Budget Data
Delete button is placed in the right-side corner against each budget hierarchy level including reporting year rows.
Users can delete reporting years, budget types and budget lines using this delete button only if there are no linkages with purchase orders raised in Invoice Object. Addition to that, if there are change requests raised under a budget line, users will not be able to delete that particular budget line from the budget objectthe workflow, use can edit the values from the budget line level of that field.
Once user update a value in budget line level, the rollup should be performed. Also, if that field is used in a formula, that formula added field also should be updated accordingly.
Duplicate Budget Data
Now the budget object has the feature which allows users to duplicate budget details from one reporting year to another reporting year.
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Change Request Process is same as the Change Register Object. Once you make changes vis Change Request Process and then if that raised change request get approved, budget values should be updated within the Budget Object.
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Cashflow
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