Split project budgets to booking categories

How to split project budget by booking categories?

A great feature of booking category groups is the ability to split the project budget by booking categories. Here projects can be split into sub budgets to help with controlling financial costs.

How to apply a budget to a booking category?

Once the booking category groups is installed. Navigate to the project budget. From here, split the project budget to each booking category.

Can I add more than one budget category?

Absolutely, add as many as you need to. Bearing in mind, the categories in the drop down are based on the category groups assigned to the project.

How to add a budget category?

To split the project budget into sub budgets by booking category: 

• Edit project to open the project modal
• Navigate to the Billing, Budgets and Rates Management tab
• From the budget section you will see the default booking category row
• To add some of the budget to another booking category, click ‘Add budget category’ where a new row will be created.
• Select the booking category from the drop down menu
• Choose the currency of the budget booking category
• Set the category budget amount
• Apply the hours to be applied to the budget booking category
• Click ‘Add budget category’ to add more budget to other booking categories.
• Note both the financial amount and hours amount will be totalled.
• Click ‘Update’ to ensure the budget booking category changes have been saved.

I want to add another category that’s not listed? How do I do that?

You need to navigate to the actual booking category group and add the category.

Split project budgets into sub budgets by booking category FAQ’s

Some quick fire FAQ’s around splitting project budgets into sub budgets by booking category.

Do I assign the budget within the settings?

No, you assign the project budget category budget within the project modal.

Can I delete an assigned booking category budget?

Yes – simply ‘x’ to remove the row and in turn the assigned booking category budget.

What if I delete a booking category? 

When a user assigns a booking category to a budget, and then deletes the booking category via settings. Then, on the billing page of the project modal, “Category not available” appears where the booking category once was.

Can I have multiple currencies within a project budget?

Yes, simply select the currency from the category row.

I don’t have booking category groups, can I still assign a budget to the default category?

Yes, by default the project budget will be assigned to the default booking category. There is always a default booking category regardless whether you use booking categories or not.

What if I go over budget?

You can view this data within a report.

Where does the overall cash budget appear?

The overall total budget will be automatically calculated based on the booking category budgets applied. If you have one or twenty one booking categories, the budget will be added to total booking category budgets.

What report columns can I build budget data reports on?

There are a total of 25 columns you can use with the budget booking category. See list of columns below.

• Scheduled Budget cash remaining (using external rate)
• Scheduled Budget cash remaining (using internal rate)
• Reported Budget cash remaining (using external rate)
• Reported Budget cash remaining (using internal rate)
• Budget hours (fixed amount)
• Budget cash (fixed amount)
• Scheduled % Budget cash consumed (using external rate)
• Scheduled % Budget cash consumed (using internal rate)
• Reported % Budget cash consumed (using external rate)
• Reported % Budget cash consumed (using internal rate)
• Scheduled Budget Cash Status (using external rate)
• Scheduled Budget Cash Status (using internal rate)
• Reported Budget Cash Status (using external rate)
• Reported Budget Cash Status (using internal rate)
• Scheduled Remaining Spend Difference (using external rate)
• Scheduled Remaining Spend Difference (using internal rate)
• Reported Remaining Spend Difference (using external rate)
• Reported Remaining Spend Difference (using internal rate)
• Scheduled Budget hours remaining (using external rate)
• Scheduled Budget hours remaining (using internal rate)
• Reported Budget hours remaining (using external rate)
• Reported Budget hours remaining (using internal rate)
• % Budget Hours Consumed (scheduled)
• % Budget hours consumed (reported)
• Estimated Budget Hours Remaining
• Budget Hour Status (scheduled)
• Budget Hour Status (reported)
• Estimated Budget Cash Remaining (external rate)
• Estimated Budget Cash Remaining (internal rate)

What does mixed rates mean?

This means that there is a combination of currencies applied to the project budget and or rates set to a project, resource or booking.

What happens to existing projects I haven’t applied multiple category budgets?

The budget will be applied to the default booking category for that project.

How do I know or set the default booking category of a project?

If you navigate to the project modal, on the first tab ‘basic information’. Scroll to booking category. You will see the default booking category applied. Feel free to change the booking category and update the project.

What will happen my historical bookings if I change the default booking category.

Nothing. The historical bookings will remain as was. For example, if the default category originally was ‘Design’ and I changed it to ‘Development’. The bookings will remain under ‘Design’.

Project modal > original default booking category:

Project schedule > original default booking category:

Project modal > new default booking category:

Project schedule > original and new default booking category:

Trial out Booking Category Groups and split the project budget.

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