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Create a Budget Snapshot

Objective

To take a snapshot of the current budget.

Background

If you are responsible for maintaining a project's budget in Procore, it's helpful to keep a record of your budget as it changes over time. The Budget Snapshot feature allows you to create a snapshot of the budget in its current state. For example, you might want to create a budget snapshot at the end of each month. This way, you can always look back at an older version of your budget to analyze various changes and see how and why a budget was changed during the course of a project. Budget snapshots are also useful for forecasting and reporting purposes. For example, if you notice that the forecasted "Projected Over/Under" amount changes unexpectedly between two snapshots, you now have a means of performing a more detailed comparative analysis to determine the actual reason for the change. 

Things to Consider

  • Required User Permission: 'Standard' or 'Admin' on the project's Budget tool to create a snapshot. 'Read-Only' or above on the project's Budget tool to view a snapshot. 
  • Budget snapshots are created manually, on-demand; you cannot create an automated recurring snapshot.
  • It's recommended that you develop a logical naming convention for naming each snapshot. (e.g. Nov-15, 8/1/2015, etc.)
  • You will see a Snapshot Variance of Estimated Cost At Completion column and Snapshot Variance of Projected Over/Under column. These columns will display the variance between the values between the previous snapshot and the current snapshot.

Steps

  1. Navigate to the project's Budget tab.
  2. Click the + Create Snapshot button in the right pane.

    createsnapshot2015-10-08_09-55-36.png
     
  3. Enter in a name or description (e.g. the date) for the snapshot.
  4. Click Create
  5. You will be redirected to the Budget Snapshots sub tab where you can view all your snapshots. 
    You can then export a budget snapshot by clicking the PDF or CSV button in the upper right-hand corner. When you view a budget snapshot you can view details of budget line items and modifications.budgetsnap2015-10-08_09-56-52.png

 

 

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Last modified
15:38, 15 Aug 2016

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