Budget Management is now available in beta for Premium and Enterprise customers. Budget Management is the first release in our larger Project Management suite in 2022. Upcoming releases related to Project Management include WIP (work in progress) and advanced billing features, among others. If you are interested in getting early access to budget management, reach out to your ServiceTrade Account Manager or email firstname.lastname@example.org.
This article will walk you through how to edit and manage your High Level or Granular Level Budget from a job. If you have not already created a budget for a job, see this article for steps to do so.
- Budget Management requires a Premium or Enterprise account with Budget Management Role Permissions enabled.
- A High Level or Granular Level Budget has been created on a job.
- Executive Summary
- Project Value and Estimated Margin
- Lock and Unlock Budget
- Editing your Budget
- Collapsible/Expandable Services and Movable Items
- Custom Item Descriptions and Delete Items
- Remove and Reinstate Budgets
The Executive Summary gives you a bird's eye view of your budget.
- The Interactive Pie Chart gives you a proportional view of your budget where each slice represents the total budget for every Item Type. Hovering over each slice shows the Item Type, number of items of that type, the total budget of that type, and the percentage that type makes up of your total budget.
- Budget Total (Original) shows you the original budget amount when you first created this budget.
- Budget Total (Revised) shows you the revised budget value if you have made any changes to the original budget (it will be the same value as Budget Total (Original if no changes have been made.)
- Change Order Totals is the dollar difference between your Revised and Original Budget
Project Value and Estimated Margin
Budget Management also gives you a summary view of your Project's Value (the total price of all items on this job) and Estimated Margin.
In this example, we initially have no price set for any items. As we add prices you can see the Project Value and Estimated Margin change in real-time.
Lock and Unlock Budget
The Lock and Unlock capability of a Budget essentially communicates the state a budget is in. A locked budget indicates that the budget has been finalized and subsequent changes should be tracked via a change order.
The locking of a budget allows for better management of users being restricted to make unwanted changes that might result in mismanagement of initially set budget assumptions.
- Lock Budget - When your budget is unlocked the text to the right of the lock icon will read Budget in Draft.
Clicking the icon opens a drop-down menu where you can select Lock Budget. This will make your budget uneditable and record the lock event in your budget history.
- Unlock Budget - When your budget is locked the text to the right of the lock icon will read Budget is Locked.
Clicking the icon opens a drop-down menu where you can select Unlock Budget. This will make your budget editable and record the unlock event in your budget history.
Editing your Budget
In order to edit your budget, it needs to be unlocked.
Once unlocked simply click the pencil icon in the top right-hand corner of your budget and you can now make changes to your budget in edit mode. When done click Save.
Collapsible/Expandable Services and Movable Items
- You can Collapse or Expand the budget details of the services being performed on the job by clicking the arrows to the right of the services.
- Grabbing the hamburger-shaped icon to the left of each item allows you to move budget items between services being performed on the job.
Custom Item Descriptions and Delete Items
- Clicking the trash can icon to the right of each item allows you to delete that specific item from your budget.
- The pencil icon to the right of each item description allows you to create custom item descriptions.
Remove and Reinstate Budgets
- Clicking the Lock/Unlock icon opens a drop-down menu. Selecting Remove Budget, allows you to remove the budget from the job.
- If you have removed a budget and you click +Add New Budget you'll see a link option at the top of the page to Reinstate a previously removed budget.
- Clicking this link will show you the most recently removed budget. Clicking the green Reinstate Budget button will reinstate that removed budget.
Note: only the most recently removed budget is saved and available to be reinstated. All other previously removed budgets cannot be reinstated.
Contact ServiceTrade support at email@example.com.