Understanding Job Cost Budgets
After you create the job master record and cost code structure, you enter budget information for the job. Budget information includes the monetary amounts and the number of units, or quantities, related to each account.
Budgets are classified as either original or revised:
Original budgets
Original budget refers to the amounts and number of units, or quantities, set up at the beginning of a project or job. You can create an original budget by manually entering budget information for each account or by copying the budget from another job. Original budgets are not date sensitive. You can change them at any time during the project or job. If you copied the budget information when you copied the account structure, you might need to change some of the budget information for the new job. The system does not keep an audit trail of changes to original budget information.
Revised budgets
You create a revised budget when you enter a budget change order. The budget change order updates the budget for the job without changing the original budget information.
This example shows the budget information that you might enter for a cost code structure. The account number and description make up the cost code structure. The budget information that you might enter includes the unit of measure (UM), budget units, and budget amounts.
Account Number |
Description |
UM |
Budget Units |
Budget Amounts (USD) |
|---|---|---|---|---|
5001.02000 |
Site Work |
N/A |
N/A |
N/A |
5001.02200 |
Clearing and Grading |
CY |
241 |
N/A |
5001.02200.1355 |
Equipment |
HR |
180 |
4,750.00 |
5001.02200.1360 |
Subcontracts |
LS |
1 |
215,000.00 |
5001.02600 |
Sewer Work |
N/A |
N/A |
N/A |
5001.02600.1340 |
Labor |
MH |
610 |
15,000.00 |
5001.02600.1341 |
Regular |
N/A |
N/A |
N/A |
5001.02600.1342 |
Premium |
N/A |
N/A |
N/A |
5001.02600.1343 |
Burden |
N/A |
N/A |
N/A |
5001.02600.1350 |
Materials |
LF |
6,900 |
313,950.00 |
5001.02600.1355 |
Equipment |
HR |
200 |
5,100.00 |
5001.02600.1360 |
Subcontracts |
LS |
1 |
165,000.00 |
5001.02800 |
Paving and Surfacing |
N/A |
N/A |
N/A |
5001.02800.1340 |
Labor |
MH |
1,200 |
21,600.00 |
5001.02800.1341 |
Regular |
N/A |
N/A |
N/A |
5001.02800.1342 |
Premium |
N/A |
N/A |
N/A |
5001.02800.1343 |
Burden |
N/A |
N/A |
N/A |
5001.02800.1350 |
Materials |
N/A |
N/A |
15,000.00 |
5001.02800.1355 |
Equipment |
HR |
800 |
20,000.00 |
5001.02800.1360 |
Subcontracts |
N/A |
N/A |
550,000.00 |