How to Adjust Budgets and Sub-Budgets

Need to reallocate funds or adjust your budget? Follow these steps to transfer money between budgets or add funds to existing budgets in Mastt.

Transfer Funds

If you need to move funds between Budgets (for example, from your Risk Provision to your Contractor Budget to cover a realised risk), use the Transfer Funds feature.

1. Navigate to the Cost Module using the Hamburger Button and selecting Cost.
2. Click on the Budgets dropdown and select Adjustments.
3. Click on the Transfer Funds button.
4. Enter information on the Transfer:
   1. Title: the name of the transfer. We recommend using a name that is related to why you are transferring the funds (e.g. adding the Variation number if the transfer is to cover a Variation)
   2. Status: Draft or Approved. Unless it is Approved, it will not move any funds between Budgets.
   3. From Budget: select the Budget you are transferring from.
   4. Amount: the amount you are transferring.
   5. To Budget: select the Budget you are transferring to.
5. Once finished, click Add.

Add/Remove Funds

If you need to add or remove funds from a Budget (for example, the scope has changed significantly and has resulted in a large increase in Budget), use the Add/Remove Funds feature.

1. Navigate to the Cost Module using the Hamburger Button and selecting Cost.
2. Click on the Budgets dropdown and select Adjustments.
3. Click on the Add/Remove Funds button.
4. Enter information on the Addition or Removal:
   1. Title: the name of the addition or removal of funds. We recommend using a name that is related to why you are adding or removing the funds.
   2. Target Budget: select the Budget you are adding to or removing from.
   3. Status: Draft or Approved. Unless it is Approved, it will not move any funds between Budgets.
   4. Amount: the amount you are adding or removing. Use a Positive amount if you are adding funds, and a Negative amount if you are removing funds.
5. Once finished, click Add.

Editing Adjustments

1. Navigate to the Cost Module using the Hamburger Button and selecting Cost.
2. Click on the Budgets dropdown and select Adjustments.
3. Find the Transfer or Addition/Removal you would like to edit. Click the relevant Actions button and then click Edit.
4. Make the required changes and then click Submit.

Deleting Adjustments

1. Navigate to the Cost Module using the Hamburger Button and selecting Cost.
2. Click on the Budgets dropdown and select Adjustments.
3. Find the Transfer or Addition/Removal you would like to edit. Click the relevant Actions button and then click Delete.
4. Click Delete to confirm.