This page displays the budget details for a particular warehoused 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 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

When using a Bottom-Up Budget the system also displays a Variance Report which 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.)

The next section of information is for Expenses. This section lists the expenses of the project.

The final section of the View Budget page is for Rates. These are the rates being used to calculate Actual Cost.