Creating a Project Budget


Creating a Project Budget

A budget is a way to track and estimate spending for your projects. Spend by all accounts associated with the project will be tracked against the project's budget.

You can create multiple fixed amount or cumulative budgets per project based on yearly, quarterly, and monthly time frames.

Budgets set for the same project cannot have overlapping time frames.

To create a budget:

  1. Navigate to Projects > All Projects.
  2. Select the project you would like to create a budget for.
  3. Click the Financials tab.
  4. Click Budgets.
  5. Click Create.
  6. Select a type of budget time frame. All time frame types are customizable down to individual months.
  7. Select a budget type.
    • Fixed Amount. Set a total amount for the budget, and distribute it between each month within your time frame. This budget type is recommended if you have a fixed, maximum amount you plan to spend during the time frame.
    • Cumulative Budget. Set amounts for each month within your time frame that are added together to create a budget total. This budget type is recommended if you would like to plan your spend by month without a fixed maximum amount for the time frame.
  8. Click Continue to Budget Settings.
  9. Fixed AmountCumulative Budget
    1. Enter a Budget Total.
    2. Select funding sources to associate this budget with. If funding sources are being enforced, this selection is required. If they are not being enforced, this is optional. For more information, see Managing Project Budgets.
    3. Select whether you would like to have your budget total evenly distributed throughout your time frame or if you would like to set each month's amount manually.
    4. Click Continue to Budget Set Up.
    5. Edit any of the budgeted monthly amounts as desired.
    6. Click Create Budget.

For additional configuration options, see Managing Project Budgets.