Create a Budget Modification

The budget modification feature is designed to provide project managers with the ability to accurately adjust a project's current budget. With this feature, you can create modifications that transfer allocated funds between budget line items, which provides you with the flexibility to accurately adjust the budget as allocation amounts change over the course of a construction project.

1. Navigate to the project's Budget tool.  
2. Determine where you are going to make your budget modifications. Be sure to note the specific cost codes and catgories of the affected line items. For example, 02-900; M.
   
   
3. Click Create Budget Modifications.

    Note

   This button is only visible and available when:

   • The budget is locked. See Lock a Budget.
   • You have 'Standard' permission or higher.  
4. Enter details about the funds being transferred: 
   1. From. Select the budget line item from which you want to remove funds. 
   2. To. Select the budget line item to which you want to add funds. 
   3. Transfer Amount. Enter the total amount for the funds transfer. 
   4. Note. Enter a brief, descriptive explanation about the funds being transferred. 
      In the example below, $2000.00 is being transferred from the Project Manager cost code and being added to the Superintendent cost code.

       Notes

      • To automatically perform addition/subtraction or to automatically increase/decrease budget totals, a user with 'Admin' permission on the Budget tool can click Configure Settings  and then place a checkmark in the 'Allow Budget Modifications Which Modify Grand Total' box. 
      • To create multiple budget modifications, click Add Line Item and enter in the cost code divisions and amount. You can create up to seven (7) budget modifications at one time. 
      
      
5. Click Create.
6. Changes are highlighted under the "Budget Modifications" column. Related sub-totals will also reflect the changes accordingly. Subtracted amounts are enclosed in parentheses. (e.g. ($2,000.00)) Results from Example 1 are shown below.
   
   
    
7. Remember, you can view the Budget Modifications Report to view a detailed record of all changes including the name of the person who made the change, as well as a timestamp. A link to the report can be found in the right pane of the Budget tool.
   
   

Additional Information:

• Line items with a "?" will not allow a user to create a Budget Modification into/from the line item. See Add a Partial Budget Line Item.
• To view a detailed record of all budget modifications, see Budget Modification Reports.
  Note: The' Reports tool must be an active tool on the project. See Add and Remove Project Tools.
• Once a budget modification has been created, it can not be edited or deleted.