The Initial Budget screen lists all the Cost Codes on the Projectbook against which you enter a budget.
If the Projectbook is using element coding where the cost codes are broken down into their component elements such as Labour and Materials, the forecasts are entered against the elements.
Initial Budget - a Projectbook using Elements
If your Projectbook uses Element Coding, you enter initial budget values at the element level. Element coding is a way of organising Cost Codes into their component parts, such as Labour (L), Materials (M) and Plant (P). The coding structure is set up when your Projectbook is created. Quantities, units and rates are added in the Initial Budget to the elements within a Cost Code, for example:
This example shows a budget with 2 forecasts - Items to Buy and Future Provisions.
To enter a value, position the cursor in the Quantity box of the forecast and enter the quantity. Then select a Unit – this example shows d for days and enter a value in the Rate column:
When you hit Enter, the columns are calculated and the screen is redisplayed, for example:
Remember to click on to save your input to the Initial Budget before moving away from this screen.
Initial Budget – a Projectbook without Elements
If your Projectbook does not use Element Coding you enter the forecast values against the Cost Codes directly:
This example shows a budget with 3 forecasts – Items to Buy, Future Provisions and Profit.
Enter the values in the Quantity and Rate fields and select a Unit in the same way as described above and click Enter.
Click on to save your input to the Initial Budget before moving away from this screen.
The Columns in the Initial Budget
Cost Code – the first column contains the cost code. Expand the
Cost Code to reveal the forecasts against which you enter values – for example, Items to Buy, Future Provisions and Profit. All Projectbooks have the Items to Buy forecast; Future Provisions and Profit are optional.
If you are using Elements, expand the Cost Code to reveal the Elements and expand the Elements to enter values against the forecasts.
Revised Total - the new total for the forecast due to any
redistribution of funds between forecasts or elements, ie the sum of the Total and the Adjustments columns.
Allocated Amount - the amount that has been allocated to the
forecast. This can never be greater than the balance Amount.
Balance- the revised Total minus the Allocated amount.
Locking and Saving the Initial Budget
If you have Lock Internal Budget Functional Permission, a
button appears next to . You may use this to prevent any
further input until you, or someone else with Unlock Internal Budget permission, switches it off.
Remember to click on to save your input to the Initial Budget before moving away from this screen.
Initial Budget Summary Line
When you view the Initial Budget without expanding the Cost Codes you can see a Quantity field and a Unit selection box on the same line as the Cost Code, for example:
If you are using elements, there is a summary line for each element, also containing a Quantity field and a Unit selection box, for example:
These fields can be used to calculate an average across the units for the Cost Code without having any effect on the values in the Initial Budget, for example:
Redistributing and Releasing Funds
Once values have been added to the Initial Budget, you may adjust the allocation by redistributing funds to or from the Items to Buy and Future Provisions forecasts for each Cost Code. You may also Release funds from Items to Buy and Future Provisions to the Profit forecast.
You may redistribute and release funds from the Initial Budget screen OR from the Forecasting screen but you can do more on the Forecasting screen.
From the Initial Budget screen you can ONLY redistribute funds
among the forecasts within the same Cost Code or the Elements in that Cost code. A new forecast is not created.
From the Forecasting screen you can redistribute amounts from
ANY of the already redistributed amounts - both from Items to Buy and Future Provisions - such as Budget Transfers.
When you reassign funds using the Forecasting screen, a new
Forecast is created.
Using the Forecasting screen you can create an Unbudgeted
Forecast.
Redistributing Funds from the Initial Budget screen
This lets you move funds within the forecasts by adding or removing funds from one forecast and assigning them to another within the same Cost Code. If you have elements configured you can move funds from a forecast of one element to the forecast of another element within the same Cost Code.
Click on the button to view the forecasts in the Cost Code. In the Withdrawal Amount column, enter the value to be moved. Then enter the same value into the Add Funds column of another forecast, for example:
Releasing Funds to Profit from the Initial Budget screen
This lets you assign funds to profit and only appears if the Projectbook has been setup to display the Profit forecast.
Click on the button to view the forecasts in the Cost Code. Enter the amount to be released to Profit in the Release Amount column, for example:
This amount cannot be greater than the remaining balance and you cannot release a negative amount.
Click on to save it. A new forecast is not created, the
amount is added to the Profit forecast and the adjustments are calculated:
How Do I…?
Allocate in Commercial Management
Create and Read a Projectsheet
Create Commercial Management
Reports
Make Budget Transfers
User Guides
Getting Started with Commercial
Management
Commercial Management Glossary
Commercial Management Security
