1. Projects
  2. Project Management
  3. Job Costing and Project Budgeting
  4. Project Budgeting
  5. Setting Up Project Budgeting

Setting Up Project Budgeting

Important:

For information on the availability of Job Costing and Project Budgeting, please contact your account representative.

Before you begin creating your project budgets, you must first decide how you want labor, expenses, and supplier items to appear in your budgets and on the P&L subtab of project records.

Note:

Projects with budgets displaying more than 20 categories will experience slower performance. It is recommended that you add only the most commonly used budget categories when creating project budgets.

To set project budgeting preferences:

  1. Go to Setup > Accounting > Accounting Preferences.

  2. Click Projects.

  3. Under Labor, select how you want labor categories to appear:

    • Group all service items into one ‘Labor’ category – Select this option to group all costs and charges for work performed on projects in a single category.

    • Show all service items as individual categories – Select this option to show each service item individually on project budgets. Each service item is shown on all project budgets regardless of value.

    • Show only selected service items as individual categories – Select this option to choose which service items you want shown as labor categories for project budgets. Hold down the Ctrl key while selecting items to select multiple service items. Any costs or charges for services items not selected are recorded in the Labor: Other category.

  4. Under Expenses, select how you want expense categories to appear:

    • Group all expense categories into one ‘Expenses’ category – Select this option to group all costs and charges for expense on projects in a single category.

    • Show all expense categories as individual categories – Select this option to show each expense category individually on project budgets. Each expense category is shown on all project budgets regardless of value.

    • Show only selected expense categories as individual categories – Select this option to choose which expense categories you want shown as expenses for project budgets. Hold down the Ctrl key while selecting items to select multiple expense categories. Any costs or charges for expense categories not selected are recorded in the Expenses: Other category.

  5. Under Supplier, select how you want supplier categories to appear:

    • Group all supplier items into one ‘Supplier’ category – Select this option to group all costs and charges for vendor supplied expenses on projects in a single category.

    • Show all supplier items as individual categories – Select this option to show each vendor supplied item individually on project budgets. Each supplier item is shown on all project budgets regardless of value.

    • Show only selected supplier items as individual categories – Select this option to choose which vendor supplied items you want shown as supplier categories for project budgets. Hold down the Ctrl key while selecting items to select multiple supplier items. Any costs or chargers for supplier items not selected are recorded in the Supplier: Other category.

  6. Click Save.

Labor is the only category available on cost and billing budgets at the project task level.

The selections you make here are also used to display the current revenue, cost, profit, and margin for your project on the P&L subtab of the project record. For more information, see Profit and Loss Subtab.

Related Topics:

General Notices