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Adjusting Budgets and Sub-Budgets

Move funds between budgets or tweak amounts to fit project shifts, risks, or scope changes - all while keeping finances on track.

Table of Contents

  1. Key Concepts
  2. Step-by-Step Guide
    1. Transfer Funds between Budgets
    2. Add or Remove Funds from a Budget
    3. Modify Existing Adjustments
    4. Delete Adjustments
  3. Best Practices
  4. Troubleshooting

Key Concepts

  • Budget Transfer: Moving funds from one budget to another (e.g., from Risk Provision to Contractor Budget)
  • Budget Adjustment: Adding or removing funds from a single budget
  • Draft Status: Changes are saved but not applied to actual budgets
  • Approved Status: Changes are active and reflected in budget totals

Step-by-Step Guide

Transfer Funds Between Budgets

  1. Navigate to the Cost Module via the side menu
  2. Select Budgets > Adjustments
  3. Click the Transfer Funds button
  4. Complete the transfer details:
    • Enter a descriptive title (e.g., "Risk Transfer for Variation #123")
    • Select the source budget in From Budget
    • Enter the transfer amount
    • Select the destination in To Budget
    • Set the status (Draft or Approved)
  5. Upload any supporting documentation if required
  6. Click Add to complete the transfer

Add or Remove Funds from a Budget

  1. Navigate to the Cost Module via the side menu
  2. Select Budgets > Adjustments
  3. Click the Add/Remove Funds button
  4. Fill in the adjustment details:
    • Enter a descriptive title
    • Select the Target Budget
    • Enter a positive amount to add funds or negative amount to remove funds
    • Set the status (Draft or Approved)
  5. Upload any supporting documentation if required
  6. Click Submit to complete the adjustment

Modify Existing Adjustments

  1. Navigate to Cost > Budgets > Adjustments
  2. Locate the adjustment you want to modify
  3. Click the Actions button and select Edit
  4. Update the necessary fields
  5. Click Update to save changes

Delete Adjustments

  1. Navigate to Cost > Budgets > Adjustments
  2. Locate the adjustment you want to remove
  3. Click the Actions button and select Delete
  4. Confirm deletion in the popup dialog

Best Practices

  • Use descriptive titles that reference the reason for the adjustment
  • Keep adjustments in Draft status until you've verified all details
  • Document the reason for significant budget changes
  • Review all affected budgets after making adjustments
  • Maintain an audit trail by uploading relevant supporting documents

Troubleshooting

Adjustment Not Reflecting

  • Symptom: Budget totals haven't updated
  • Cause: Adjustment still in Draft status
  • Solution: Change status to Approved


Last Updated: February 21, 2025