Updating a Budget
Your budget is called your Schedule of Values (SoV) on Textura Payment Management and reflects a list of works your organization will complete for a contract. In instances where the General Contractor does not use the Specified Sov setting, you will need to record your own budget.
If your organization has the ability to edit and itemize your budget, users assigned the Project Manager role will see a Budget task on the Project Home page after accepting a contract. Selecting the Edit Budget task from the Project Home page opens the Edit Schedule of Values page.
FAQs
How should I fill out my Schedule of Values?
The system originally displays the Schedule of Values (SoV) as one line item on the Edit Schedule of Values page. If your General Contractor does not use Specified SoV and wants to see a detailed budget, break out your SoV.
You will use the Edit SoV tab to allocate your funds to multiple line items.
My Schedule of Values is out of balance. What do I do?
If the Schedule of Values (SoV) is out of balance, it means your Working Totals and Totals values do not match. There are two reasons why an SoV may become out of balance.
There are Budgeting Errors
Navigate to the Edit Schedule of Values page. Make corrections to the red fields and save the page. When the SoV is in balance, the Working Totals and Totals amounts will both display in black.
If you cannot edit your Schedule of Values, but you do have the Project Manager role, the General Contractor is using the Specified SoV contract setting and enters budget information on your behalf. Contact your General Contractor if you need them to update your budget.
See Breaking Out Subcontractor SoV Manually.
Change Orders Need Allocating
Select the Required: Edit Change Orders link on the Project Home page to navigate to the Allocate Change Orders page. Enter the change order value in the Allocate column.
Change orders must be entered one at a time. You must allocate the first variation and save before the system prompts you with the next one.
Why does my Work Breakdown had multiple tables?
If your subcontract includes multiple components (sections of work), the Schedule of Values (SoV) will show separate tables for each component in your contract on the Edit Schedule of Values page.
You can edit each table as you would normally edit a line item, but the sum of the lines in each component must always equal the amounts in the Totals line.
Most Subcontractors will only see a single table on their Edit Work Breakdown page.
Additional Resources
- In-App Help: In the application, select the ? > Help for this Page link in the top right corner of your page. The Help topics presented are context sensitive to the page you have open in TPM.
- Documentation Library
- Support
In This Section
Allocate Change Orders for Subcontractors
Last Published Monday, February 5, 2024