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Procore

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 or after you update your forecast. 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.)
    Note: You don't have to list the date since the day and time are stamped automatically on each snapshot.

Demo

create-budget-snapshot.gif

Steps

  1. Navigate to the project's Budget tool.
  2. Click Create Snapshot.
  3. Complete the following information:
    • Name. Enter in the name of the snapshot.
    • View. Select which view you want to take a snapshot of.
    • Description. Enter a description of the snapshot.
  4. Click Create
    A 'Snapshot Creating' message appears while the system is processing the snapshot. You can continue to work during this process. A 'Snapshot Created' message appears when the snapshot is complete.
  5. View the snapshot using one of these methods:
    • Click View Snapshot Data.
    • Select the new snapshot in the Snapshots menu. 
      Note: This selections in this menu are context-sensitive and only show snapshots created for the selected view.
    • Click the ellipsis symbol in the Original Budget Amount column to view the snapshot for the selected line item.

See Also

If you would like to learn more about Procore’s budget management software and how it can help your business, please visit our construction budgeting software product page here.

 

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