Add a Spend Plan to an Existing Project

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Add a Spend Plan to an Existing Project

If you did not add a spend plan to a project during project creation, you can add one at any time after.

Kion offers two modes of financial management: budgets and spend plans. We recommend migrating to budgets at your earliest convenience.

If you have already built your organization around spend plans, budgeting with a highly restrictive structure functions very similarly but offers more customization and granularity. We recommend switching to budgeting with allocations mode and enforced funding sources if possible.

If you started using Kion before budgets were released in version 3.5.0, you can migrate from spend plans to budgets. For more information, see Migrating from Spend Plans to Budgets.

To add a project spend plan to an existing project:

  1. Navigate to Projects > All Projects.
  2. Select the project you would like to add a spend plan to.
  3. Select the Financials tab.
  4. Select the Spend Plan sub-tab.
  5. Click Create Spend Plan.
  6. Select the funding source that the project will use. You can add more than one funding source to the project spend plan. You can use more than one funding source in a given month. You can drag and drop the funding sources to prioritize the order in which they are used.
  7. Select the start and end months during which the project can use the funding source. Funding sources are set on month boundaries since cloud accounts generally finalize spend once a month.
  8. Enter the planned amount of funds available to the project.
  9. Click Update Spend Plan.

 

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