To create a project's budget in Procore by either creating one from scratch or importing a compatible CSV file.
Things to Consider
- Required User Permission:
- 'Standard' or 'Admin' on the Budget tool.
- If your company has enabled the ERP Integrations tool:
- After creating all of the desired line items on your budget, you will need to lock the budget and then send it to the ERP Integrations tool for acceptance by an accounting approver. Upon acceptance, Procore will sync the budget data with your integrated ERP system. For instructions, see one of these links:
Add a Budget
Although most users will prefer to upload an existing budget that was created outside of Procore, you can build a budget and all of its line items directly in the Budget tool.
Navigate to the project's Budget tool.
- Upload a Budget: See Import a Budget CSV for more detailed instructions.
- Create a Budget: Add line items manually.
Review and Edit the Budget
Take time to properly review the details of your budget and make any necessary adjustments before you lock it down so that it's no longer editable and you're ready to start the project.
- Add New Line Items - See Create a Budget Line Item.
- Verify Line Items
- Modify Original Budget Values (If Necessary)
Lock the Budget
Once you have completed your final adjustments to the budget and are ready to lock it down so that it becomes the official budget for the current project, you can safely lock your budget.
When you lock a budget, the "Original Budget" data column is no longer editable in order to preserve the "Original Budget" values. Once a budget is locked, changes can only be made via Change Orders or Budget Modifications, which will give you an accurate historical record of all changes and their impact to the project's original budget. As a result, you will have a clear understanding of how the original budget iteratively evolved into the current budget over time.
Please note that a budget does not have to be locked in order to associate commitments and change orders to the budget line items. However, it's strongly recommended that the budget is locked before proceeding with these activities however to ensure that the correct cost codes will be available for use.
Now that your Budget is established, you can start writing commitments against it and can set up your Prime Contract.