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Edit Budget Changes

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 Phased Release
The new Budget Changes feature is designed to replace the existing budget modifications feature. Once you migrate to Budget Changes, you will no longer have access to the budget modifications feature. If you have any questions before your company starts the migration, contact your Procore point of contact. To learn more about the timeline for migration, see: Common Questions.

Objective

To edit budget changes using the project's Budget tool. 

Background

A budget change moves your budget's funds from a specific cost or revenue area to another cost or revenue area. Users can create budget changes to ensure your team has a method for moving and auditing budget values between the job activities and work packages associated with your construction project. With the 'Create New Budget Change' form, users can add both Amount-Based and Unit/Qty Based adjustments from one line item to another -- which moves the quantities of materials, labour and funds you need to complete activities.  

Example

Depending on whether you use your budget to track cost or revenue, you can create budget changes to move monetary amounts between budget codes. Some common uses for a budget change include:

  • Transfer Funds. A fund transfer is a budget change that moves funds from one (1) budget code to one (1) or more other budget code(s). 
  • Move Expenditures. If you use your budget to track expenditures, you can move expenses from one (1) budget code to one (1) or more other budget code(s). 
  • Move Revenue. If you use your budget to track your project's revenue, you can move revenue from one (1) budget code to one (1) or more other budget code(s). 

In Procore, a budget change is comprised of two (2) components:

  • Adjustment. An adjustment is a line item that represents the line on the original budget where the funds are coming from. You can add new adjustments by clicking the Add Adjustment button. 
  • Line. A line item under an adjustment represents where you want to allocate the funds from the original budget. You can add line items to adjustments by clicking the Add Line button. 
 Tip
What is a budget code? To learn more about the budget code concept in Procore, see What is a budget code in WBS?

Things to Consider

  • Required User Permissions:
    • 'Admin' level permissions on the project's Budget tool.
      OR
    • 'Read Only' or 'Standard' level permissions on the project's Budget tool with the 'Create, edit and delete Budget Changes' granular permission enabled on your permissions template.
  • Additional Information:
    • Procore recommends that your company (or each project team) develop a policy for managing budget changes in your environment. 
    • Budget changes are supported by the Company level Workflows tool. 
  • Limitations:
  • For companies using the icon-erp-synced2.png ERP Integrations tool: Show/Hide  
    • Only 'Approved' budget changes can be sent to Procore + ERP Integrations.
    • Budget changes can be retrieved from Procore + ERP Integrations if they have not yet been synced.
    • Budget changes cannot be edited or deleted once synced with the integrated ERP system.

Steps

Add General Information

  1. Navigate to the project's Budget tool. 
  2. Click the Budget Changes tab. 
  3. Click Edit.
  4. Update the budget change information as needed:
     Note
    An asterisk (*) below denotes a required field. 
    • Number*
      Accept the default budget change number. Procore assigns new adjustment numbers in sequential order. For example; 1, 2, 3 and so on. 
    • Status*
      Select the current status of the budget change. Procore assigns the 'Draft' status to new adjustments. 
    • Title
      Enter a title for the budget change. 
    • Description
      Enter a more detailed description of the budget change. 
  5. Optional. If the 'Allow Budget Changes to be Billed on Main Contract Payment Applications' setting is enabled (see Budget Changes):

    add-to-owner-invoice-options.png
    • Add to Owner Payment application. Mark this tickbox to add the budget change to main contract payment applications when approved. For details, see About Budget Changes on Main Contract Payment Applications. 
    • Main Contract. Select the appropriate main contract from the drop-down list. 
  6. Optional. Continue with adding one (1) or more adjustments. 

Edit Adjustments

  1. Locate the adjustment that you want to modify. 
  2. Update the following information as needed:
    • Budget Code
      Select a budget code from the list or click Create Budget Code to create a new one. See What is a budget code in Procore's WBS? 
    • Description
      Enter a description for the adjustment. 
    • Quantity
      Enter the number of units.
    • Unit
      Enter the Unit of Measure (UoM). 
       Notes
    • Unit Cost
      Enter the cost per unit. 
    • Amount
      Procore automatically calculates the subtotal for you, based on the Quantity, Unit, and Unit Cost Entries. 
    • Change Event Line Item
      If the Change Events tool is active on the project, select a change event line item to link the adjustment to a change event.
    • Optional: Comment
      Enter any helpful comments about the budget change in this box. 

Edit Line Items for Adjustments

  1. Locate the line item to adjust in the 'Adjustments' section.
  2. Update the following information for an adjustment line item:
    • Budget Code
      Select a budget code from the list or click Create Budget Code to create a new one. See What is a budget code in Procore's WBS? 
    • Description
      Enter a description for the adjustment. 
    • Quantity
      Enter the number of units.
    • Unit
      Enter the Unit of Measure (UoM). 
       Notes
    • Unit Cost
      Enter the cost per unit. 
    • Amount
      Procore automatically calculates the subtotal for you, based on the Quantity, Unit and Unit Cost Entries. 
    • Change Event Line Item
      If the Change Events tool is active on the project, select a change event line item to link the adjustment to a change event.
    • Optional: Comment
      Enter any helpful comments about the budget change in this box. 
  3. Click Create. 

Edit Production Adjustments

If your company is tracking production quantities on the budget (see What are 'production quantities'?), you can also create budget changes to make production adjustments. 

Add Line Items to Production Adjustments

After selecting the line item for the production adjustment as detailed above, you can then add one (1) or more line items to represent how you want to reallocate the budgeted production quantities. 

See Also