Managing Budgets in Mastt

Objective

By the end of this guide, you'll be able to:

• Create and organize budgets and sub-budgets
• Transfer funds between budget items
• Add or remove funds from the project
• Manage unallocated budget amounts

Prerequisites

• Access to a Mastt project
• Basic understanding of the Cost Module structure
• Project budget requirements

Video Walkthrough

 

Step-by-Step Budget Management

Accessing the Budget Register

1. Navigation

• From the Cost Module, click on Budgets in the tabs
• Then select Budgets again from the dropdown menu
• This takes you to the budget register

Creating Budgets

1. Adding a New Budget

• Click the + Add Budget button
• In the budget register, click Add Budget in the bottom left corner

2. Budget Details

• Enter a budget name (e.g., "Authority Fees")
• Set the original budget amount
• Select budget status:
  • Approved (default): Fully functional
  • Draft: no functionality until approved
  • Closed: no functionality

3. Using Budget Tags

• Add budget tags to categorize budgets
• These tags can be used for filtering in dashboard reports
• Particularly useful with Big Number tiles

4. Organizing Budgets

• Use the six dots icon to drag and reorder budgets
• Position budgets in logical groupings
• Click Save to confirm changes

Creating Sub-Budgets

1. Adding Sub-Budgets

• Click the three dots next to a budget
• Select Add Sub-Budget
• Enter sub-budget details (name, amount)
• Sub-budgets further divide the parent budget amount

2. Budget Allocation

• The system tracks unallocated budget when using sub-budgets
• You can allocate more than the parent budget (will show negative unallocated amount)
• The system alerts you to over-allocation but allows saving

Managing Budget Adjustments

1. Accessing Adjustments

• Click on Budgets at the top
• Select Adjustments from the dropdown

2. Transferring Funds Between Budgets

• Select Transfer Funds
• Enter an adjustment name
• Select the source budget (transferring from)
• Select the destination budget (transferring to)
• Enter the transfer amount
• Choose whether to approve the transfer immediately
• Add notes and attachments if needed
• Click Add to complete the transfer

3. Adding or Removing Project Funds

• Select Add and Remove Funds
• Enter an adjustment name
• Select the affected budget
• Choose the status (usually Approved)
• Enter the amount:
  • Positive number to add funds
  • Negative number to remove funds
• Click Add to apply the change

4. Deleting Adjustments

• Click the three dots next to an adjustment
• Select Delete to remove the adjustment
• This reverses the financial impact of the adjustment

Deleting Budgets

1. Deleting Budgets

• Navigate to the Budgets tab
• Click the three dots next to a budget
• Select Delete

2. Budget Deletion Process

• You must delete items in the correct order:
  • Delete sub-budgets before their parent budget
  • Delete items linked to a budget before deleting the budget
• The system will alert you if you need to delete dependent items first

Common Pitfalls and Solutions

• Issue: Negative unallocated budget
  • Solution: Adjust sub-budget amounts or increase the parent budget
• Issue: Can't delete a budget
  • Solution: Check for dependent items (sub-budgets, contracts) and delete those first
• Issue: Budget adjustments not reflecting
  • Solution: Ensure adjustments are approved and refresh the page
• Issue: Budget tags not appearing
  • Solution: Create budget tags in advance before assigning them

Next Steps

Now that you understand how to manage budgets, explore the Contract Management guide to learn how to create and manage contracts in Mastt.