Working with the Project Budget

You can see and access the project budget if you belong to the same organization and collaborative spaces as the project owner. Your role also determines the level of access.

When creating a budget, make sure that you have set the preferred currency. . You can only enter budget values in the preferred currency.

Before you begin: The project budget must exist.
  1. On the Projects page, click the name of a project. See Projects Page. In the navigation pane, click Financials > Budget tab.

    A project can have only one budget.

  2. For an existing budget, you can view the following information:

    Item. The name of the budget. Also listed are any cost categories and cost items in the budget.

    Ledger A/C No. The ledger account number associated with the cost item.

    [Interval]. All-time intervals display for the budget, along with cost amounts.

    Total. The total cost of the budget appears on the top line. Each cost category (cost center) has its own total of all the costs in that category. Each cost item shows the total of all individual cost items.

    Variance. This column appears only in the Estimated and Actual views:

    In the Actual View:

    • Variance Amount = Actual cost minus Plan cost
    • Variance % = (Actual / Plan) X 100
    In the Estimated View:
    • Variance Amount = Actual cost minus Estimate cost
    • Variance % = (Actual / Estimate) X 100

  3. Use the filter to change the Currency for the amounts, the Interval for the budget display, and the View (Plan View to view basic plan information, Estimated View to enter estimates, and Actual View to view amounts).