Managing Budgets in Mastt

Budgets are the foundation of your project's financial tracking. Set up your budgets and sub-budgets, move money between them with adjustments, and keep notes on the decisions behind the numbers.

Budget statuses

Open the budget register

1. In the Cost module, click Budgets in the tabs.
2. Select Budgets again from the dropdown. This opens the budget register.

Create and edit budgets

Click + Add Budget to open the Add and Edit Budgets form. Each budget is a row, and you can add as many as you need by clicking + Add Budget at the bottom left of the form.

Click Save when you're done.

To enter lots of budgets at once, click Paste from Excel and paste your rows in. To change the order, drag a budget using the six dots at the start of its row, then click Save.

Budget tags

Tags let you filter the KPI tile on your dashboards, so you can show figures for a group of budgets, such as all your construction budgets. The Budget Breakdown tile can also group its data by tag. Create your tags before you assign them, otherwise they won't appear.

Add notes to a budget

Use notes to record the context and decisions behind a budget, next to your cost data. In the Add and Edit Budgets form, click the notes icon in the Notes column on the budget's row.

Create sub-budgets

1. Click the three dots next to a budget and select Add Sub-Budget.
2. Enter the sub-budget details (name and amount).

Sub-budgets divide the parent budget's amount, and Mastt tracks what's left unallocated. You can allocate more than the parent budget. The unallocated amount goes negative, Mastt warns you, and it still lets you save.

Adjust budgets

Adjustments move or change money without editing the original budget.

1. Click Budgets at the top and select Adjustments from the dropdown.
2. Choose the type of adjustment.

Transfer funds between budgets

1. Select Transfer Funds.
2. Enter an adjustment name.
3. Choose the source budget (transferring from) and the destination budget (transferring to).
4. Enter the transfer amount.
5. Choose whether to approve the transfer straight away. An adjustment that isn't approved won't show, so approve the transfer straight away if you want it to take effect now.
6. Add notes and attachments if you need them, then click Add.

Add or remove project funds

1. Select Add and Remove Funds.
2. Enter an adjustment name and select the budget affected.
3. Choose the status (usually Approved).
4. Enter the amount: a positive number adds funds, and a negative number removes them.
5. Click Add.

Delete an adjustment

Click the three dots next to the adjustment and select Delete. This reverses the adjustment's financial impact.

See adjustments on the Overall page

The Adjustments column on the Overall page shows the net value of your adjustments. To see what's behind that number, click Columns and add Adjustments In and Adjustments Out. They break the net value down into money added to a budget and money taken out.

Delete a budget

1. Open the Budgets tab.
2. Click the three dots next to the budget and select Delete.

Delete in the right order: sub-budgets before their parent, and any items linked to the budget (such as contracts) before the budget. Mastt tells you if you need to delete something first.

Troubleshooting

Related articles

• How to Create Budgets and Sub Budgets
• How to Create and Manage Budget Adjustments
• Managing Contracts in Mastt

Need help?

Contact Mastt Support for additional assistance.