Creating and modifying a budget is critical for a project. A specific budget will show the total cost of the combined projects. Users can add multiple projects to one budget or spread projects over multiple budgets. Budgets are created by a user with Financial Manager or Financial Manager Administration Permission.
You must have a budget associated with a project before you submit for approval.
Creating a Budget
Creating a budget requires three sections to be filled out. This information is saved under the Budgets Tab. Once a budget has been created, when a project is created, the selection for budget appears.
- Navigate to the Budgets Tab
- Enter a budget name.
- Provide an open and close date for the budget.
- Enter specifications related to the budget.
- Click the Create Budget button.
Inactivate a Budget
Budgets cannot be deleted but instead the option to make budgets inactive. Once a budget has become inactive, it cannot be selected for future projects. An inactive budget that is associated with current and past projects will not be influenced.
- Navigate to the Budgets Tab.
- Locate the budget that needs to be inactive.
- Click the Make Inactive button.
- Click the Confirm button.
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