Budgets

The columns can be divided into the following types:

• Actuals: Track the amount of money you actually spend on a project. The actual costs include the money you pay to subcontractors and vendors through contract invoices and general invoices that are approved for the budget.
• Budget: Track the money given to you, usually by the owner, to complete the project. The budget includes the value of changes that the owner agrees to pay.
• Costs: Track the expenditures and commitments for a project. Costs include money that you commit to spend through contracts and subcontract change orders.
• Forecasts: Add information to budget cost forecasts.
• Over / under: Track the amount of savings or overrun for the project. A savings is a positive difference, and an overrun is a negative difference.

Actuals

Column	Description	Calculation
Actual cost this period	Actual cost for the current cost period.	Net complete value for contract invoice items + Subtotal for general invoice items + Tax total for general invoices for the current cost period
Actual cost this period hours		This invoice hours for contract invoice items for the current cost period
Actual cost this period quantity		This invoice qty for contract invoice items for the current cost period
Actual cost this period unit price		Actual cost this period amount / Actual cost this period quantity
Actual cost to complete	Remaining cost of the project.	Depending on the field calculation setting: Projected costs - Actual cost to date —Or— Forecast cost - Actual cost to date
Actual cost to complete hours		Depending on the field calculation setting: Projected costs hours - Actual cost to date hours —Or— Forecast cost hours - Actual cost to date hours
Actual cost to complete quantity		Depending on the field calculation setting: Projected costs quantity - Actual cost to date quantity —Or— Forecast cost quantity - Actual cost to date quantity
Actual cost to complete unit price		Actual cost to complete amount / Actual cost to complete quantity
Actual cost to date	Actual cost to date.	Net complete value for contract invoice items for all cost periods + Subtotal for general invoice items for all cost periods + Tax total for general invoices for all cost periods + Additional actual costs
Actual cost to date hours		This invoice hours for contract invoice items for all cost periods + Additional actual costs hours
Actual cost to date quantity		This invoice qty for contract invoice items for all cost periods + Additional actual costs quantity
Actual cost to date unit price		Actual cost to date amount / Actual cost to date quantity
Actual cost to this period	Actual cost up to and including the current period.	Net complete value for contract invoice items + Subtotal for general invoice items + Tax total for general invoices up to and including the current cost period
Actual cost to this period hours		This invoice hours for contract invoice items up to and including the current cost period
Actual cost to this period quantity		This invoice qty for contract invoice items up to and including the current cost period
Actual cost to this period unit price		Actual cost to this period amount / Actual cost this period quantity
Actual percent complete	Percentage of the project cost that has been paid.	Depending on the field calculation setting: Actual cost to date / Projected costs —Or— Forecast cost / Projected costs
Actual percent complete hours		Depending on the field calculation setting: Actual cost to date hours / Projected costs hours —Or— Actual cost to date hours / Forecast cost hours
Actual percent complete quantity		Depending on the field calculation setting: Actual cost to date quantity / Projected costs quantity —Or— Actual cost to date Quantity / forecast cost quantity
Additional actual costs amount	Additional actual costs.	When Additional actual costs quantity is edited in the budget, Additional actual costs amount is: Additional actual costs unit price * Additional actual costs quantity —Or— When Additional actual costs unit price is edited in the budget, Additional actual costs amount is: Additional actual costs unit price * Additional actual costs quantity
Additional actual costs hours		Editable column in the budget.
Additional actual costs quantity		Editable column in the budget.
Additional actual costs unit price		Editable column in the budget. When Additional actual costs amount is edited in the budget, Additional actual costs unit price is: Additional actual costs amount / Additional actual costs quantity

Budget

Column	Description	Calculation
Approved revisions	Approved changes to the budget.	Potential change order (PCO) items with the Approved revisions budget allocation
Approved revisions hours		(Budget) Applied hours for PCO Items with the Approved revisions budget allocation
Approved revisions quantity		(Budget) Applied amount quantity for PCO Items with the Approved revisions budget allocation
Approved revisions unit price		Approved revisions amount / Approved revisions quantity
Approximate revisions	Rough estimates of changes that are expected to increase the budget.	PCO items with the Approximate revisions budget allocation.
Approximate revisions hours		(Budget) Applied hours for PCO items with the Approximate revisions budget allocation
Approximate revisions quantity		(Budget impacts) Applied Amount quantity for PCO items with Approximate Revisions budget allocation
Approximate revisions unit price		Approximate revisions amount / Approved revisions quantity
Contract item	ERP integration: The contract number, contract item, and contract description from the linked ERP job. This column is read-only and is updated automatically from the ERP. API: The contract number, SOV item number, and SOV item description from a non-committing contract.
Current budget	Sum of the original budget and approved budget revisions.	Original budget + Approved revisions
Current budget hours		Original budget hours + Approved revisions hours
Current budget quantity		Original budget quantity + Approved revisions quantity
Current budget unit price		Current budget amount / Current budget quantity
Original budget	Amount in the Original budget field in the budget item record.	Original budget amount / Original budget quantity
Original budget hours		Editable budget column when it isn't Approved.
Original budget quantity		Original budget unit price * Original budget quantity
Original budget unit price		Original budget unit price * Original budget quantity
Pending revisions	Proposed changes that are expected to increase the budget.	PCO items with the Pending revisions budget allocation
Pending revisions hours		(Budget) Applied hours for PCO items with the Pending revisions budget allocation
Pending revisions quantity		(Budget) Applied amount quantity for PCO items with the Pending revisions budget allocation
Pending revisions unit price		Pending revisions amount / Pending revisions quantity
Projected budget	Total budget if all the pending and approximate budget revisions are approved.	Current budget + Pending revisions + Approximate revisions
Projected budget hours		Current budget hours + Pending revisions hours + Approximate revisions hours
Projected budget quantity		Current budget quantity + Pending revisions quantity + Approximate revisions quantity
Projected budget unit price		Projected budget amount / Projected budget quantity

Costs

Column	Description	Calculation
Approved commitment changes	Sum of PCO items that are linked to subcontract change orders (SCOs). When a PCO item is part of an approved SCO, the cost allocation is set automatically to Approved commitment. The amount moves from the column associated with the previous cost allocation to the Approved commitment changes column. Example You assign the Pending commitment cost allocation to the PCO item. In the budget, the applied cost is added to the Pending Commitment column. You add the PCO item to an SCO. The cost allocation changes to Approved commitment, and the applied cost is removed from the Pending commitment column and moved to the Approved commitment changes column.	Cost applied amount for PCO items with the Approved commitment cost allocation
Approved commitment changes hours		(Cost) Applied hours for PCO items with the Approved commitment cost allocation
Approved commitment changes quantity		(Cost) Applied amount quantity for PCO items with the Approved commitment cost allocation
Approved commitment changes unit price		Approved commitment changes amount / Approved commitment changes quantity
Approximate commitment	Rough estimates of proposed changes that are expected to increase the cost of the project.	PCO items with the Approximate commitment cost allocation —Or— PCO items with the Uncommitted cost allocation
Approximate commitment hours		(Cost) Applied hours for PCO items with the Approximate commitment cost allocation + (Cost) Applied hours for PCO items with the Use Uncommitted cost (approximate) cost allocation
Approximate commitment quantity		(Cost) Applied amount quantity for PCO items with the Approximate commitment cost allocation + (Cost) Applied amount quantity for PCO items with the Use uncommitted cost (approximate) cost allocation
Approximate commitment unit price		Approximate commitment amount / Approximate commitment quantity
Direct costs	Job costs from the ERP or the API. You can only update this column via the ProjectSight API.	Non-commitment portion of the ERP job costs where the type is not Subcontractor Invoice or General Invoice The Direct costs amount are subtracted from the Uncommitted costs column. The Direct costs amount are added to the Projected costs column and related field calculations.
Non commitment changes	Sum of general invoice amounts not linked to purchase orders.	Subtotal for general invoice items in general invoices not linked to purchase orders + general invoice Tax total when not linked to purchase orders
Non commitment changes quantity		Quantity for general invoice items in general invoices that aren't linked to purchase orders
Non commitment changes unit price		Non commitment changes amount / Non commitment changes quantity
Original commitments	Sum of all committing contracts and purchase orders.	Sched value for contract SOV items + Subtotal —Or— Invoiced amount for purchase order items (whichever is greater) + Tax total —Or— Tax invoiced for purchase orders (whichever is greater) + general invoice Items subtotal when the general invoice is linked to a purchase order but the general invoice item is not linked to a purchase order item
Original commitments hours		Scheduled hrs for contract SOV items
Original commitments quantity		Scheduled qty for contract SOV items + Quantity —Or— Invoiced quantity for purchase order items (whichever is greater) + General invoice Items quantity when the general invoice is linked to a purchase order but the general invoice item is not linked to a purchase order item
Original commitments unit price		Original commitments amount / Original commitments quantity
Pending commitment	Proposed commitments that increase the costs of the project.	PCO items with the Pending commitment —Or— Use uncommitted cost (pending) cost allocation
Pending commitment hours		(Cost) Applied hours for PCO items with the Pending commitment cost allocation + (Cost) Applied hours for PCO items with the Use uncommitted cost (pending) cost allocation
Pending commitment quantity		(Cost) Applied amount quantity for PCO items with the Pending commitment cost allocation + (Cost) Applied amount quantity for PCO items with the Use uncommitted cost (pending) cost allocation
Pending commitment unit price		Pending commitment amount / Pending commitment quantity
Projected costs	Total cost of the project if all the pending commitments, approximate commitments, and uncommitted costs are approved.	Total committed costs + Uncommitted costs + Pending commitment + Approved commitment changes + Direct costs
Projected costs hours		Total committed costs hours + Uncommitted costs hours + Pending commitment hours + Approved commitment changes hours
Projected costs quantity		Total committed costs quantity + Uncommitted costs quantity + Pending commitment quantity + Approved commitment changes quantity
Projected costs unit price		Projected costs amount / Projected costs quantity
Total committed costs	Sum of all costs committed through committing contracts, purchase orders, SCOs, and general invoices.	Original commitments + Approved commitment changes + Non commitment changes
Total committed costs hours		Original commitments hours + Approved commitment changes hours
Total committed costs quantity		Original commitments quantity + approved commitment changes quantity + Non commitment changes quantity
Total committed costs unit price		Total committed costs amount / Total committed costs quantity
Uncommitted costs	Amount of money available to be spent for the budget code. Typically this is the same as original budget amount until amounts are automatically moved into committed cost columns.	Original budget - Original commitments - Non commitment changes - (Cost applied of PCO Items with the Use uncommitted cost (pending) cost allocation + Cost applied of PCO Items with the Use uncommitted cost (approximate) + Cost applied of PCO Items with the Approved commitment (specific cases) + PCO Items cost applied of PCO items with the Uncommitted cost allocation
Uncommitted costs hours		Original budget hours - Original commitments hours - Non commitment changes hours - (Cost) Applied hours for PCO items with the Use uncommitted cost (pending) cost allocation + (Cost) Applied hours for PCO items with the Use uncommitted cost (approximate) cost allocation + (Cost) Applied hours for PCO items with the Approved commitment (specific cases) + (Cost) Applied hours of PCO items with the Uncommitted cost allocation
Uncommitted costs quantity		Original budget quantity - Original commitments quantity - Non commitment changes quantity - (Cost) Applied amount quantity for PCO items with the Use uncommitted cost (pending) cost allocation + (Cost) Applied amount quantity for PCO items with the Use uncommitted cost (approximate) cost allocation + (Cost) Applied amount quantity for PCO items with the Approved commitment cost allocation (specific cases) + (Cost) Applied amount quantity for PCO items with the Uncommitted cost allocation
Uncommitted costs unit price		Uncommitted costs amount / Uncommitted costs quantity

Forecast

Column	Description	Calculation
Forecast allocation type	Method in which the Value remaining is distributed across the applicable months or periods in cost forecasts.
Forecast cost	Forecast cost for the forecast period.	Projected costs + Forecast to complete Depending on the field calculation setting, Uncommitted costs are included in the Forecast cost or subtracted from it.
Forecast cost hours		Projected costs hours + Forecast to complete hours Depending on the field calculation setting, Uncommitted costs are included in the Forecast cost or subtracted from it.
Forecast cost quantity		Projected costs quantity + Forecast to complete quantity Depending on the field calculation setting, Uncommitted costs are included in the Forecast cost or subtracted from it.
Forecast cost unit price		Forecast cost amount / Forecast cost quantity
Forecast finish date	End date of the forecast.
Forecast includes uncommitted costs	Option to include uncommitted costs in the forecast cost calculations. When the checkbox is selected, uncommitted quantities and amounts are included in the forecast cost calculations.
Forecast start date	The start date of the forecast.
Forecast to complete amount	Remaining cost of the forecast.	Editable column in the budget When Forecast to complete quantity is modified in the budget, Forecast to complete amount is: Forecast to complete unit price * Forecast to complete quantity —Or— When Forecast to complete unit price modified is modified in the budget, Forecast to complete amount is: Forecast to complete unit price * Forecast to complete quantity
Forecast to complete hours		Editable column in the budget.
Forecast to complete quantity		If the Forecast to complete type is Lump sum, this column is read-only and set to 0. —Or— If the Forecast to complete type is Line items, the value is the total of the line items that use the same UOM as the budget item.
Forecast to complete unit price		If the Forecast to complete type is Lump sum, this column is read-only and set to 0. —Or— If the Forecast to complete type is Line items, the Forecast to complete unit price is Forecast to complete amount / Forecast to complete quantity.
Forecast to complete type	The type (lump sum or line item) for the Forecast to complete amount.

Over / Under

Column	Description	Calculation
Current over / under	Current amount of overrun or savings.	Depending on the field calculation setting: Total committed costs - Current budget —Or— Current budget - Total committed costs
Current over / under hours		Depending on the field calculation setting: Total committed costs hours - Current budget hours —Or— Current budget hours - Total committed costs hours
Current over / under quantity		Depending on the field calculation setting: Total committed costs quantity - Current budget quantity —Or— Current budget quantity - Total committed costs quantity
Forecast over / under	Amount of the cost forecast overrun or savings.	Depending on the field calculation setting: Forecast cost - Projected budget —Or— Projected budget - Forecast cost
Forecast over / under hours		Depending on the field calculation setting: Forecast cost hours - Projected budget hours —Or— Projected budget hours - Forecast cost hours
Forecast over / under quantity		Depending on the field calculation setting: Forecast cost quantity - Projected budget quantity —Or— Projected budget quantity - Forecast cost quantity
Projected over / under	Amount of overrun or savings if all commitments and revisions are approved.	Depending on the field calculation setting: Projected costs - Projected budget —Or— Projected budget - Projected costs
Projected over / under hours		Depending on the field calculation setting: Projected costs hours - Projected budget hours —Or— Projected budget hours - Projected costs hours
Projected over / under quantity		Depending on the field calculation setting: Projected costs quantity - Projected budget quantity —Or— Projected budget quantity - Projected costs quantity

The records in the Financials module affect the budget in the following ways:

• Application for payment: The application for payment doesn't affect the budget.
• Budget item: The amount from the Original budget field is entered in the Original budget and Uncommitted costs columns.
• Change order request (COR): The COR doesn't affect the budget, but its linked PCOs do.
• Contract: For committing contracts, the amount for each item in the schedule of values (SOV) is subtracted from the Uncommitted costs column and added to the Original commitments column for the assigned budget code. Non-committing contracts, which don't commit costs to the budget, have no effect on the budget.
• Contract invoice: For each item in the contract invoice, the Net complete value is added to the Actual cost to this period and the Actual cost to date columns for the assigned budget code.
• Cost forecast: The cost forecast doesn't affect the budget.
• General invoice: The effect depends on whether the general invoice includes a purchase order.
• If the general invoice includes a purchase order, the cost of the purchase order is not added to the budget because the purchase order is applied to the Original commitments column when it's created.
• If you overbill a purchase order in a general invoice, the overbilled amount is subtracted from the Uncommitted Costs column and added to the Original commitments column.
• If the general invoice is not for a purchase order, then the value for each item in the general invoice is subtracted from the Uncommitted costs column and added to the Non commitment changes column for the assigned budget code. The amount of a general invoice is also applied to the Actual cost to this period and Actual cost to date columns for the budget code.
• Potential change order (PCO): The effect of a PCO item depends on the item's budget and cost allocation.
• Prime contract change order (PCCO): The PCCO doesn't affect the budget.
• Purchase order: For each item in the purchase order, its value is deducted from the Uncommitted costs column and added to the Original commitments column for the assigned budget code.
• Subcontract change order (SCO): The effect of an SCO depends on the cost allocation used for its PCO items. The amount for the PCO item is subtracted from the cost column that's specified by the cost allocation and added to the Approved commitment changes column for the assigned budget code.

The following table shows the columns in the budget that are affected by transactions from the financial records.

			Approved revisions	Approximate revisions	Current budget	Original budget	Pending revisions	Projected budget		Approved commitment changes	Approved revisions	Approximate commitment	Non commitment changes	Original commitments	Pending commitment	Projected costs	Total committed costs	Uncommitted costs		Current over / under	Projected over / under		Actual cost this period	Actual cost to this period	Actual cost to date	Actual cost to complete	Actual percent complete
Record types	Budget item	Budget							Costs										Over / Under			Actuals
	Contract
	Contract invoice
	General invoice												1 The Non commitment changes column is only affected if the general invoice is not for a purchase order.	2 The Original commitments column is only affected if the general invoice includes overbilling for a purchase order.
	PCO
	Purchase order
	SCO

: Money is applied to this column

: Column is recalculated

You can select which columns are displayed in the budget grid. The first two columns are frozen so that they remain visible as you scroll to the right.

For easier identification, the following column types are color-coded in the budget grid:

• Actuals: Light green
• Budget: Light blue
• Cost: Light yellow

To open the columns list

• At the top of the budget, select (Columns).

To add a column

1. In the columns list, select the checkbox for the column.
2. Select Apply.

To reorder the columns

• In the budget, select and drag the column to a different position.
Example



Column dragged to a new position

To remove a column

• In the columns panel, clear the checkbox for the column.

A budget snapshot is a read-only view of the budget at a specific point in time. The snapshot includes every budget column so that you can add columns in the snapshot to view the saved information.

To create a budget snapshot of the current view

1. In the budget snapshot list, select (Snapshot).
2. Enter a name for the snapshot.

Duplicate names are allowed.

3. Select Save.

To edit the name of a budget snapshot

1. In the budget snapshot list, select (Settings) by the snapshot.
2. Edit the name.
3. Select Save.

To delete a budget snapshot

1. In the budget snapshot list, select (Settings) by the snapshot.
2. Select Delete.
3. To confirm the deletion, select Delete again.