Budgets

You can create budget codes to monitor how much money has been spent or has been committed. Budget codes are used for tracking amounts in schedule of values items in committing contracts, potential change order items, purchase orders, invoices, and subcontract change orders. You can also use budget codes to track production quantity, budget production hours, and forecast costs.

To create a budget item

1. On the View menu, click Cost Control > Budgets, and then select a view.
2. Click .
3. In the Description box, type a description of the work that will be completed using funds assigned to the line item.
4. On the General tab, enter the following required information:

Name	Description
Phase	The code indicating the phase of the project.
Division	The code for the construction division.
CSI Code	The CSI Code.
Scope	The two-character code that defines the scope off the project for the line item.
Extension	The code that you want to use to differentiate or sub-divide the budget codes that have identical Phase, Division, CSI Code and Scope values.
Category	The code that is used to differentiate or sub-divide the Budget Codes that have identical Phase, Division, CSI Code, and Scope values.

Note: The Budget Code box is populated automatically with your selections.

5. (Optional) Enter the following information:
• Original Budget Amount: The dollar amount originally allocated to the budget code.
• Uncommitted Cost: The uncommitted cost amount. This is the amount of money available to be spent for the budget code. When you first create the budget code, the Uncommitted Cost equals to the Original Budget Amount. The value in the Uncommitted Cost box changes as you commit costs.
• Revenue Code: The revenue code you want to assign to this budget code.
• Alias Code: The alias code for the budget code. For example, if you need to associate the budget code with a code in the owner's accounting system, you can add the code from the owner's accounting system as the alias code.
• Reference: Information about a reference item or document associated with the selected budget code. When you save potential change orders and budget control entries that use this budget code, the record numbers are inserted automatically into this box.
• Committing Document: Information about the committing document for the selected budget code. When you save subcontract change orders, contracts, and potential change orders that use this budget code, the record numbers are inserted automatically into this box.
• Company Code: Company codes for the companies with reference or committing documents for this budget code.
• General Notes: General notes about the budget code.
6. To save the changes and keep the form open, click > Save.

—Or—

To save the changes and close the form, click > Save and Exit.

To copy a budget item

1. Open the budget item that you want to copy.

Tip: The new budget code will contain the values from the Original Budget Amount, Uncommitted Cost, Revenue Code, Alias, and Reference fields of the original budget code.

2. Click .
3. Edit the Phase, Division, CSI Code, Scope, Extension, and Category fields, so the combination is unique.
4. Edit the other details as needed.
5. To save the changes and keep the form open, click > Save.

—Or—

To save the changes and close the form, click > Save and Exit.