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.
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:
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