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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 Permissions:
    • To create a snapshot, 'Standard' or 'Admin' on the project's Budget tool.
    • To view a snapshot, 'Read-Only' or higher on the project's Budget tool. 
  • Additional Information:
    • Budget snapshots can only be created manually and on-demand. You cannot create an automated recurring snapshots.
 Tips

Staying organized is an important part of organizing, sharing, and finding of snapshots. To help project users identify snapshots more readily, it is recommended that you develop a naming convention for your project team. You may want to consider using a naming convention that includes important project elements, such as dates, project elements, milestones, and so on. Below are some examples:

  • If you are taking snapshots on the 15th of every month, you might want to use 'Mid Month-2019-01' or '2019-01-MidMonth' as your naming convention.
  • If you take monthly snapshots at the end of the month, you might want to use 'Month End-2019-01' or '2019-01-Month End' as your naming convention.

    Note: Keep in mind that snapshots already include the date and time stamp, so including dates in your naming is a best practice and not required.

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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