/
Project Budget

Project Budget

Owned by amani imtiyas
Last updated: 18 minutes ago by Imasha Karunanayake
11 min read

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.

 

  1. Budget Tab

View of the Budget Tab

3_Currnet Budget_Added New Budget Type-20240712-092030.png

 

Activating the Budget object in your Project

Your system administrator can reach out to the Camms Support Team to activate the Financial Module. following which, your system administrator can simply drag and drop the 'Budget Object' into the respective workflow according to the preference.

 

The Key functionalities of the Budget tab

  1. Adding data into the object through a financial integration, upload data via the Upload Wizard, or manually add data (for more information on integrating financial data into the object, please contact your system administrator).

  2. Managing a hierarchical view of budget lines.

  3. Managing Budgets against Purchase Orders and Invoices.

  4. Filtering Budget data.

  5. Manually add, edit, duplicate, or delete budget data.

  6. Managing custom numeric columns within the Object.

  7. Adding custom calculations to manage your financial data.

  8. Managing taxes for budgets.

  9. Managing change orders for Budgets.

 

Budget Grid

Budget grid or the table view is the area which allows you to manage your financial data. The columns on the grid would be visible based on the configurations done by your system administrator.

Button Toolbar

Button toolbar contains 6 buttons.

image-20250107-033020.png

  1. Show Budget Tax (Toggle) - This allows you view respective tax configured.

    1. Quick Tip: You have to tick the “Include for tax” column on the grid related to the types/lines that you want to view

    2. Quick Tip: You have to switch ON the “Show Budget Tax” toggle to enable tick boxes under Include For Tax column.

       

 

  1. Show Budget Variance (Toggle) - This would display budget variance, If you have sent any requests for budget changes through the Change Register you would be able to view the budget difference via this toggle.

    1. Quick Tip. Values in “Green” would show you that there is a Change sent to reduce the budget figure on the respective Budget. for an example.

Original Budget Value on the grid is 101,000.000

Change to reduce the Budget value is 1000.000 this change is shown in the Grid in green 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.

Need image

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.