Field Definitions: PM Project Budgets Form

The following is a list of field descriptions for the PM Project Budgets form. Many of the descriptions include links to other topics that provide additional information about or related to the topic.

Project

Enter the project (from PM Projects) for which to set up a budget.

Budget

Manually enter a budget code or enter ‘+’, 'n', 'N', or 'New' if you want the system to automatically assign the new budget code the next available number.

 

PM Project Budgets

Description

Enter a description of this budget, up to 60 characters.

 

PM Project Budgets

Seq

Display only, the sequence number assigned to this budget detail line. This sequence number only represents the order in which the entry was added to the grid; it does not control the order in which detail appears on budget reports, nor is it used in subtotals or total calculations.

 

PM Project Budgets

Group

Required.

Enter the group number (1-999999) for this budget sequence. Group numbers are used to group detail together and will be used to combine lines within a group for subtotaling purposes. The group number is not used in ‘Total’ calculations.

 

PM Project Budgets

Line

Required.

Enter a line number (1-9999) for this budget sequence. The line number controls the order in which the detail appears on budget reports, and is used in the subtotal and total calculations.

 

PM Project Budgets

Level

Specify the costing level for this budget sequence. The costing level defines the level of cost or revenue detail.

  • Detail – Select this option if using this budget code to breakdown cost or revenue detail.

  • Subtotal – Select this option if using this budget code to provide a subtotal (with or without markup).

  • Total – Select this option if using this budget code to provide a grand total (with or without markup).

     

PM Project Budgets

Code

Enter a budget code (must be set up in PM Billing and Cost Rate IDs) for this budget sequence. May be left blank.

 

PM Project Budgets

Description

Enter a description for this budget sequence, up to 60 characters. May be left blank. If you entered a budget code for this sequence, defaults the description defined in PM Billing and Cost Rate IDs.

 

PM Project Budgets

Phase

Enter the phase to which this budget sequence applies. May be left blank. If you entered a budget code for this sequence, defaults the phase assigned in PM Billing and Cost Rate IDs, if applicable.

 

PM Project Budgets

C-T: Cost Type

Enter the cost type to which this budget sequence applies. May be left blank.

If you entered a budget code for this sequence, defaults the cost type assigned in PM Billing and Cost Rate IDs.

 

PM Project Budgets

Units

Enter the number of units for this budget sequence.

 

PM Project Budgets

UM

Enter a valid unit of measure for this budget sequence. May be left blank. If you entered a budget code for this sequence, defaults the UM assigned in PM Billing and Cost Rate IDs, if applicable. If no budget code is entered, but a phase and cost type are entered, defaults the UM assigned to the phase/cost type in JC Phases (Cost Types tab).

 

PM Project Budgets

Hrs/Unit

Enabled only if tracking hours for the specified cost type (flag in JC Cost Types).

Enter the number of hours required to complete a single unit of the specified UM. If you entered a budget code for this sequence, defaults the hours/unit specified in PM Billing and Cost Rate IDs.

 

PM Project Budgets

Hours

Enabled only if tracking hours for the specified cost type (flag in JC Cost Types).

Enter the number of hours required to complete this sequence. Initially defaults a value based on Units x Hrs/Unit. May be overridden; however, Hrs/Unit will be recalculated.

 

PM Project Budgets

Cost/Hour

Enabled only if tracking hours for the specified cost type (flag in JC Cost Types).

Enter the cost per hour for this sequence.

 

PM Project Budgets

Unit Cost

Enter the unit cost for this sequence. If you entered a budget code for this sequence, defaults the unit cost specified in PM Billing and Cost Rate IDs.

Note:

If you are tracking hours for the specified cost type (flag in JC Cost Types) and you specified a cost per hour (in previous field), defaults the specified cost/hour value, even if you specified a unit cost for the budget code in PM Billing and Cost Rate IDs. If you then override the unit cost, the cost/hour value is not recalculated; however, the Hrs/Unit will be recalculated based on Unit Cost ÷ Cost/Hour and the Hours recalculated based on Units x Hrs/Unit.

Markup

Enabled only if Level is set to ‘S-Subtotal’ or ‘T-Total’.

Enter the markup percentage for this sequence. If you entered a budget code for this sequence, defaults the percentage specified in PM Billing and Cost Rate IDs, if applicable.

 

PM Project Budgets

Amount

This field is only enabled if Level is set to ‘D-Detail’.

Enter the total amount for this sequence. If UM not ‘LS’, defaults an amount based on Units x Unit Cost.

For sequences where Level is ‘S-Subtotal’, the amount will be a calculation of the subtotal markup percent times the sum of all sequences within the group with a line number less than the Subtotal line number.

For sequences where the Level is ‘T-Total’, the amount will be a calculation of the total markup percent times the sum of all sequences (regardless of group) with a line number less than or equal to the Total line number.

 

PM Project Budgets

Total

Display only, the total amount for Subtotal and Total sequences.

For sequences where Level is ‘S-Subtotal’, this amount will be the sum of the subtotal amount, plus the amount of all lines within the group with a line number less than the subtotal line number.

For sequences where the Level is ‘T-Total’, this amount will be the sum of all sequences where the line number is less than or equal to the Total line number (regardless of group).

 

PM Project Budgets