This page displays the budget details for a particular project.

The first portion of the page displays the Budget information. The table is divided into four columns:

• Item
  
  
• Actual Amount
  
  
• Estimated Amount
  
  
• Percent of Estimate Used: This calculates the percentage of the items in the actual column versus the Project Price for Top-Down Budgets or versus the Estimated Net Project Cost for Bottom-Up Budgets.
  
  Note: % Estimate Used is not calculated for those columns involving Reimbursable Expenses since these expenses are not included in the Project Price for Top-Down Budgets or the Net Project Cost for Bottom-Up Budgets.

For a Top-Down Budget, the following information is available:

• Project Price: Both the Estimated and Actual Project Prices are determined when the Budget is created.
  
  
• Reimbursable Costs: These are costs that will be paid back to the company. Both the Estimated and Actual Reimbursable Costs are determined through the Expense System. Reimbursable Costs appear twice because it is both money spent (cash out) which is shown in Total Other Costs and money received (cash in) which is shown in Total Proceeds.
  
  
• Total Proceeds: This is the total amount of money collected for the project (Project Price + Reimbursable Costs).
  
  
• Labor Cost: This is the cost of internal labor/work. The Estimated Labor Cost is determined when the Budget is created and the Actual Labor Cost is determined through the Timesheet System.
  
  
• Non-Labor Costs: This is the cost of expenses incurred by the company (that are not reimbursable). The Estimated Non-Labor Cost is determined when the Budget is created and the Actual Non-Labor Cost is determined through the Expense System.
  
  
• Total Other Costs: This is the sum of Non-Labor Costs and Reimbursable Costs, representing the total amount spent on non-work related costs.
  
  
• Total Project Cost (cash out): This is the total amount spent on the project. It is the sum of the Labor Cost and Total Other Costs. For Top-Down Budgets the calculation for the Estimated Total Project Cost may use the sum of the Net Project Cost and Reimbursable Costs if the Labor Cost and Non-Labor Costs were not estimated (when the budget was created).
  
  
• Net Project Cost: This is the total amount spent on the project minus the Reimbursable Costs. The Estimated Net Project Cost is determined when the Budget is created. The Actual Net Project Cost is determined throughout the duration of the project.
  
  
• Net Proceeds: This is the profit made on the project. The Estimated Net Proceeds is determined when the Budget is created (using the Project Price and Margin %). The Actual Net Proceeds is the difference between the Total Proceeds and Total Project Cost.

For a Bottom-Up Budget, the following information is available:

• Labor Cost: This is the cost of internal labor/work. The Estimated Labor Cost is determined through the Schedule System (when users are assigned to tasks along with estimated hours). The Actual Labor Cost is determined through the Timesheet System.
  
  
• Non-Labor Costs: This is the cost of expenses incurred by the company (that are not reimbursable). Both the Estimated and Actual Non-Labor Costs are determined through the Expense System.
  
  
• Reimbursable Costs: These are costs that you are able to get reimbursed on. Both the Estimated and Actual Reimbursable Costs are determined through the Expense System.
  
  
• Total Other Costs: This is the sum of Non-Labor Costs and Reimbursable Costs, representing the total amount spent on non-work related costs.
  
  
• Total Project Cost (cash out): This is the total amount spent on the project. It is the sum of the Labor Cost and Total Other Costs.
  
  
• Net Project Cost: This is the total amount spent on the project minus the Reimbursable Costs. Both the Estimated and Actual Net Project Costs are determined throughout the duration of the project.

Variance Report

The Variance Report compares Estimated and Actual budget numbers at the present moment in time. The report makes it possible to determine whether or not the actual amounts spent at that snapshot moment are accurate in comparison to the estimates at that moment. The Variance Report will only function fully if estimated numbers are input accurately (i.e. Estimated hours input into the schedule to calculate Estimated Labor Cost; Estimated expenses with estimated dates are input into the Expense System.)

Expenses

The next section on the Budget View page is for Expenses. This section lists the expenses of the project.

The following fields are displayed in the Expenses section:

• Description: The description of the expense.
  
  
• Category: The category of the expense. Categories are defined through the Admin System. An Expense Report in the Management Reports section can be used to generate various reports on expenses.
  
  
• User: The user associated with the expense. Depending on your access to Vertabase you may be able to add only yourself or you may be able to add additional users to expenses.
• Estimated Expenses: These are the estimated expenses for the project, which can be input for both Top-Down and Bottom-Up Budgets. For Top-Down Budgets, estimated expenses have no functional impact. For Bottom-Up Budgets, estimated expenses are used to calculate Estimated Non-Labor and Reimbursable Costs as well as for the Variance Report.
  
  
• Actual Expenses: These are the actual expenses for the project, which can be input for both Top-Down and Bottom-Up Budgets.
  
  
• Estimated Dates: These are the estimated dates when expenses will occur. Estimated dates can be input for both Top-Down and Bottom-Up Budgets, however they only have a functional impact for the Variance Reports in Bottom-Up Budgets.
  
  
• Actual Dates: These are the actual dates when expenses occur. Actual dates can be input for both Top-Down and Bottom-Up Budgets, however they only have a functional impact for the Variance Reports in Bottom-Up Budgets.
  
  
• Non-Labor: This shows which expenses are Non-Labor, defined as those other than timesheet-specific expenses that are incurred on the project.
  
  
• Reimbursable: This shows which expenses are Reimbursable, defined as those other than timesheet-specific expenses that are reimbursed. Reimbursable expenses show up both as money spent and money received, cancelling out when the Net Project Cost is calculated.

To add an expense, click the Add Expenses link. This will refresh the page with the Add Expenses form displayed (5 empty records will always be made available). To add an expense, do the following:

1. Input a description for the expense. The description is required.
   
   
2. Select a category for the expense. The category is required.
   
   
3. Input the estimated expense amount if one exists.
   
   
4. Input the actual expense amount if one exists.
   
   
5. Input the estimated date of the expense if one exists.
   
   
6. Input the actual date of the expense if one exists.
   
   
7. Select if the expense is Non-Labor or Reimbursable.

When finished, click the Submit Entries button. The page will refresh to the View Budget page. Or click the Submit/Add More button to submit these entries and continue submitting additional expenses. Click Cancel to return to the View Budget page without adding any expenses into the system.

Note: It is possible to add expenses by selecting a Default Expense. Default Expenses are pre-defined in the Main Settings of the Admin System.

To edit an existing expense, click the Edit Expenses link. This will refresh the page with the Edit Expenses form displayed. All of the information related to an expense can be edited. When finished, click the Save Changes button and the page will refresh to the View Budget page. Click Cancel to return to the View Budget page without editing any expenses.

Expenses can be deleted from the Edit Expenses page by selecting the checkboxes next to the expenses to delete and clicking the Delete These Entries button.

Rates

The final section of the View Budget page is for Rates. These are the rates being used to calculate Estimated Labor Cost (if a Bottom-Up Budget) and Actual Labor Cost (for both Bottom-Up and Top-Down Budgets).

There are two Rate Methods, including: Work Type Rates (rates assigned to work types) and User Rates (rates assigned to users).

For budgets using Work Type Rates it is possible to add and edit rates. The work types displayed are based on those assigned when adding users to schedule steps.

For budgets using User Rates it is only possible to edit rates. The user rates displayed are based on the project members list.

To add a rate, click the Add Rates link. On the subsequent page, do the following:

1. Select a work type.
2. Input the rate associated with the work type.

Click Submit Changes to add the rate. The page will refresh to the View Budget page.

To edit a rate, click the Edit Rates link. On the subsequent page, do the following:

1. Modify the Latest Rate.
   
   Note: The Latest Rate may be different than the Current Rate if a rate change has been input for the future.
   
   
2. Input the Applied Since date.
   
   Note: This can be used in two ways; to apply rates retroactively or to apply future/upcoming rates. If the date selected is in the past, the system will assign the new rate from that date forward, wiping out all other rates from that point on. If the date selected is in the future, the system will assign the new rate when that date arrives. Upcoming rate changes are displayed on the View Budget page under the Upcoming Change column.

Click Save Changes to edit the rates. The page will refresh to the View Budget page.

If there are rate changes for a particular rate, an asterix will appear next to the rate on the View Budget page. Clicking the asterix will launch a report on the historical changes of the rate.

Note: When rates are edited for a particular project, the changes will only impact the specific project in question. Therefore, it is possible that a user's Default Rate (seen in the User system) is different from their rate for a particular project.