Creating A Budget
Turning On Budgets for a Project
Because not all projects require the budget process, it is necessary to enable the Use Project Budgets switch for those projects that will utilize budgets.
If you don't see the switch above, it is because the budget module has not been turned on for your firm. Please email Support@DesignSmart.Tech and request that this free module be activated for your system.
Accessing the Budget List View
To access the Budget List View, go to the Item List Views. Click on the View menu and select Budget View.
Adding Items
The Budget View is shown below.
Item Name - Enter items in this list view by using the New Item button. Typically, you will want to use generic names like “Chair”, “Sofa”, “Desk Lamp” for the item names in the budget. Once the client approves the budget, then you will be able to replace “Chair” with “Upholstered, Wing Back Chair”, or “Sofa” with “Coffee Leather Sleeper Sofa”.
Enter the Unit Cost or Sell Price
In this list view, you can enter the Unit Cost amount and, if the project has a markup, the Unit Price will be automatically calculated.
Or you can enter the Unit Price and, if the project has a markup, the Unit Cost will be automatically calculated.
This is intended to make it easy to develop your budgets!
After you have entered several items, the layout will appear as below.
Notes:
- It is not necessary to enter the Vendor.
- It is not necessary to enter the Type or Category.
- The Taxable flag will turn on automatically. If the project is taxable, the approximate sales tax will be reflected inavoid adding components to the budget if possible the budget.
Important Note
- We recommend that you do not add components to the budget if they can be avoided. For example, if you enter a chair that has a fabric as a component, then enter the Unit Price of the chair with the fabric. Or enter the Unit Cost of the chair with the fabric. This will simplify the process.
Creating a Budget
Step 1
If necessary, filter, or select, the items you would like to add to the budget. If you are going to include all the items on the budget, you can skip this step.
Step 2
Click on the Actions drop-down menu and select Create Budget.
Step 3:
Add subcharge overrides as necessary. For example, at this point, you'll typically want to add a percentage or an amount for freight. You can do so by entering one of these amounts in the left panel, then clicking the Update Budget button.
Step 4:
When the budget appears correct, then click on the Save Budget button.
Budgets, unlike proposals, are identified by using a letter as shown below.
The Budget List View will show the Budget letter in the Budget column.
Letters in blue indicate the budget has been created. When the budget has been approved, the letter will be green.
