Budget items

Budget items are used to track costs. Each budget item has a status:

  • Only items with a status other than Approved are editable.
  • Only items with the Approved status are available for other records.

A budget item can be linked to:

  • Contracts and potential change orders (PCOs) that are approved for the budget.
  • Subcontract change orders (SCOs) that are approved for the budget and are linked to PCO items.
  • Prime contract change orders (PCCOs) that are linked to approved PCOs. The PCCO is linked to each budget item that's affected by the items in the PCO.

Changes to the budget columns are saved automatically.

  • From the list at the top-left of the budget, select an option.
  • In the Search field, enter the search terms.

    • The grid displays the items with budget codes, descriptions, alias codes, or contract items that match the search terms. The banner is also updated.

  1. To see the linked items, click link (Links).

    2. Linked items are also included in the activity stream on the Comments tab.

    The Links panel displays records that are part of a transaction for the budget item. It doesn't display records, such as costs forecasts, that only reference the budget item.

  2. To view the history of the budget item, click the History tab.
  3. To open a different budget item, select the item from the budget code list.

Each budget item must have a unique budget code.

  1. At the top of the Budget view, click Add.
  2. In the Budget Code section, select an option from each list to create the budget code.
  3. In the Description field, enter a description for the budget item.
  4. In the Original Budget field, enter the amount.

    5. This amount is added to the Original Budget and Uncommitted Costs columns.

  5. If the units and hours setting is on:
    1. From the UOM list, select the UOM.

      2. If you select a UOM that is not a unit price, the Original Budget Unit Price and Original Budget Quantity fields are read-only.

    2. In the Original Budget Hours field, enter the hours.
    3. In the Original Budget Unit Price field, enter the unit price.
    4. In the Original Budget Quantity field, enter the quantity.
  6. From the Status list, select a status.
  7. To save and close the budget item, click Save.

    8. —Or—

    To add a new budget item, click Save + Add Another.

  8. In the budget grid, enter the cost forecast information in the Forecast Cost, Forecast Start Date, Forecast Finish Date, and Forecast Allocation Type columns.

    9. This information is used when a cost forecast is created for the budget.

  9. In the budget grid, select a revenue code in the Revenue Code column.

    10. In non-committing contracts, revenue codes can be added to SOV items or as separate line items.

    To see which budget items have a revenue code, select Revenue Code from the Group By list.

    Grouped by revenue code
  1. Select the budget item row.
  2. On the navigation toolbar, click content_copy (Copy).
  3. In the Budget Code section, edit the options to make a unique combination.
  4. In the Description and Original Budget fields, edit the information.
  5. From the Status list, select a different status.
  6. Click Save.

    7. The new budget item doesn't include the comments and links from the original budget item.

In the budget grid, you can only edit the description, original budget amount, and alias code. To change the amounts in other columns, you can create records against the budget item.

To change the amount in the Pending Commitment column, you create a PCO and select the Pending Commitment allocation for the PCO item.

  • If you change the amount in the Original Budget column, the Uncommitted Costs column is adjusted by the same amount.
  • You can also use budget transfers to adjust the amount in the Original Budget column.
  1. To change the Original Budget value, change the status to something other than Approved, and then edit the column.
  2. Edit any of the following cells:
    • Description
    • Alias Code
    • UOM (available if the units and hours setting is on)

    If you enter invalid data, you can close the error message and then press Esc to restore the previous value in the cell.

  • In the Status cell of the grid, select a status.

    • —Or—

    Click the budget code, and then select a status in the Information panel.

  1. In the Assigned To or Courtesy Copies section, click Add, and then select a contact.

    2. Assignees and courtesy copy recipients can add a comment by replying to the email notification.

  1. On the Comments tab, enter your comment, and then Send icon(Send).

    2. Comments for budget items can't be edited or removed.

  1. In the Links panel, click add (Add), and then select the item type and item.

    2. The link is saved immediately.

For each budget code, you can include detailed forecasts:

  • The Forecast To Complete column displays the amount as a lump sum or as the total of the entered line items.
  • The Forecast Cost column includes the Forecast To Complete amount and can include the quantity and amount of uncommitted costs.
  1. In the Forecast To Complete Type column, select Lump Sum.
  2. In the Forecast To Complete column, enter the amount.

If the budget item uses line items, you can click the amount in the Forecast To Complete column and select Lump Sum in the Forecast To Complete editor.

Lump Sum option

Lump Sum option in the Forecast To Complete editor

  1. In the Forecast To Complete Type column, select Line Items.
  2. To open the Forecast to Complete editor, click the amount in the Forecast To Complete column.
    3. Link to open the Forecast to Complete editor
  3. To add a line item, click Add, and then enter the details in the Line Items grid.
    • If you select a unit-based UOM and enter the Qty and Unit Price, the Amount is calculated by multiplying the Qty by the Unit Price.
    • If you select a unit-based UOM and enter the Amount, the Unit Price is calculated by dividing the Amount by the Qty.
    • If you select a non-unit-based UOM, enter the Amount.
    Line item examples
  4. To delete a line item, click delete (Remove).
  5. To navigate to the Forecast To Complete editor for a different budget item, select the item from the list at the top of the editor.
    6. Navigation options to open a different budget item
  • In the Forecast Includes Uncommitted Costs column, select the checkbox.

You can export budget items to an Excel file, where you can edit them and create new ones. Then you can import the file, which can only be used once, back into the same project. If you have access to Project Settings, you can also add budget group options to ProjectSight using the spreadsheet.

  • The Forecast To Complete Type column is read-only.
  • The Forecast To Complete column is read-only if the value in the Forecast To Complete Type column is Line Items.
  1. Edit the unlocked columns for existing budget items.

    2. The Original Budget is unlocked for budget items that are exported with the Pending status.

  2. To create a budget item:
    • Select a lookup item for each budget group to create a unique budget code.

      • The budget code is generated after the Excel file is imported back into ProjectSight.

    • Enter the Description, Original Budget, and Status, which are required.
  3. To add budget code lookup items, click the Budget Groups tab, and then enter the lookup item under each budget group column.

    4. This tab is visible only if you have security access to the project settings.

You can use budget transfers to modify your approved budget items without requiring a change order. Budget transfers are displayed on the Transactions tab of the budget item.

Budget transfers can't be edited or deleted. To make a correction, you can add another budget transfer.

For each budget item, you can view the following transactions:

The Summary tab only displays transactions that are approved for the budget.

Approved for Budget toggle
  1. To open the record from the Summary tab, click the record link in the Transactions column.

The following report options are available:

You can only delete budget items that aren't used by other records, such as cost forecasts.

Unapproved transactions, which don't appear on the Transactions tab, may prevent the deletion of a budget item.

  1. Click the budget item row.

    2. —Or—

    To select multiple rows, press Shift as you click adjacent rows.