Allot Budget to Scheduled Work Items

The 'Budget-Schedule Allocation' screen provides a comprehensive view of the project budget and allows the general contractors to distribute allotments from line items to the relevant tasks in the schedule. Once a budget line item is selected, all tasks assigned to the same contractor are displayed, enabling you to choose a task and specify the amount to allocate. With each allocation, the budget is instantly updated to reflect the remaining amount in the line item, giving you real-time visibility into the funds available for future allocations.

Prerequisites:
The general contractors should have uploaded the project budget and locked it.
The master schedule has been added to the project, and the line items have been assigned to respective contractors and published.

The method for distributing funds from a budget line item to different tasks depends on whether the budget is tied to a planned quantity of work:

• If a planned quantity of work is specified, the allocation must be distributed based solely on the work quantity for each task, rather than the monetary amount.
• If no planned quantity of work is specified, you can allocate funds by specifying the actual dollar amount or assigning a percentage of the total budget to each task.

To allot budget to individual schedule line items

• Open the management console of the project
• Click the app launcher  , then select 'Finance.'
• Click 'Budget' on top, then select 'Budget-Schedule' from the left
• Open the 'Link Budget-Schedule' tab

The screen shows the project budget with the following columns: 

• Cost Code -  The code representing the work as per the cost code list defined at your company level 
• Task Name - The label of the work/task item
• Budget Quantity - The total amount of work required to be done 
• Unit of Measure - Units by which the amount of work done is measured 
• Remaining Quantity - The budgeted quantity of work remaining after allotment to relevant schedule items. This value is dynamically calculated on every fractional allotment of funds from this budget line item to a task item.
• Budget Amount - The total amount allotted to the budget line item in US Dollars
• Remaining Amount - The budget amount remaining after allotment to relevant schedule items. This value is dynamically calculated on every fractional allotment of funds from this budget line item to a task item. 
• Contractor - The subcontractor company to which the line item is allotted. 

• Select a line item to distribute funds from it to a task item by clicking the serial number

All published schedule items from the master schedule, assigned to the same contractor as the budget line is assigned, are listed in the lower pane.

• Enter the amount to be allocated to a task 

You can specify the fund allocation for a task item in three ways:

For allocation from budget line item specified with a planned quantity of work -  Specify the fraction of the planned work quantity.

1. Work Quantity 

• Double-click inside the 'Allocation Quantity' column in the row of the schedule item.
• Enter the portion of work from the 'Budget Quantity' of the budget line item.
• The budget amount gets auto-calculated for the task.

For allocation from budget line item not specified with a planned quantity of work - Enter a portion of the selected total budget to be assigned to the task.

2. Actual Amount 

• Double-click inside the 'Allocation Amount' column in the row of the schedule item.
• Enter the numerical value of the money to be allotted to the task from the 'Budget Amount' of the budget line item in dollars.

3. Percentage of the total amount of the budget line item

• Double-click inside the 'Allocation Amount' column in the row of the schedule item.
• Enter the percentage value, followed by the percentage symbol, of the 'Budget Amount' of the budget line item to allot to the task.
• The budget amount gets auto-calculated for the task.

• Repeat the process to allot budget amounts from the same budget line item to more schedule items.
• Click 'Link' on the top-right

The budget amount gets allocated for the task. The Remaining 'Quantity' and the 'Remaining Amount' in the budget table get auto-updated for the allotted amount.

• Repeat the process to allot budget amounts from other budget line items to their respective schedule items.

You can revise the allotments anytime by delinking the budget allotment from any task. See Edit Budget Allocations for more details.