Budget Transfer Business Process
Use the Budget Transfer business process to define, review, and approve transfers between cost codes within the project budget. The amount of this record must be zero to submit it. If you must add or remove budget from the project, use the Budget Change business process.
Characteristics
This is a Project-level business process with a workflow, provided in the system template.
Record Statuses
| Status | Resulting State |
|---|---|
| Approved | terminal |
| Rejected | terminal |
| Canceled | terminal |
| Awaiting_Review | non-terminal |
| Pending_Approval | non-terminal |
| Sent_for_Revision | non-terminal |
Workflow
The default workflow for the Budget Transfer business process is set up in a certain way; however, it may be used differently by your organization. Typically, a user with the necessary permissions can create the record and either move it directly to the end step or send it to others for review or approval. The recipients in the second step can take the action of approving or rejecting the record or send it on to others.
Creating a Budget Transfer Record
Create a Budget Transfer record by navigating to Budget Management / Budget Transfer on the Project/Shell tab, or from the Tasks log on the Home tab or relevant Project/Shell tab. Act on an existing Budget Transfer task that has been assigned to you from the Tasks log.
Complete the Budget Transfer form and attach related documents, if needed. After completing the form, select Send, and select an action in the Workflow Actions list to determine the next step in the workflow. Select Send to route the form to the next assignee.
Note:
You must enter a value in all required fields (*) before you can save the form.- Go to your Project tab, and switch to User mode.
- In the left Navigator, select Budget Management, and then select Budget Transfer.
- On the Budget Transfer page, select Create. Refer to the tables below to complete the form. You can select Save at any time to save a draft version of the form. Draft versions are stored under Drafts.
- To add attachments, go to the Attachments tab, and select Attach Files
.
- After completing the form, select Send.
- On the Workflow Action Details tab, select who should receive this BP.
- If permitted, you can add users to the CC list. These users will receive a notification about this BP but are not assigned a task.
- If permitted, you can select lists of members in the Contact List section. These members also receive a notification about this BP but are not assigned a task.
- If permitted, you can adjust task due dates for all users, or set individual task due dates for each assignee.
- Select Send.
- In the Notification window, review the content, and select OK.
The record moves to the next step in the workflow.
Completing the Budget Transfer Form
Key Information
| Field Name | Access | Description |
|---|---|---|
| Title | Required | Enter a title. |
| Amount | Read-Only | Amount of this record (the sum of the line-item amounts) |
| Reason | Editable | Budget change reason |
| Due Date | Editable | Target completion date for this record. A default duration has been set by your administrator but can be overridden here for this record. |
| Budget Transfer Version | Editable | This field is optional. If a previous budget transfer has been rejected or canceled, you can increment the version in this field. |
| Transferred Amount | Editable | A Budget Transfer BP record is always a net-zero transaction with a total amount of zero. The Transferred Amount is one side of the total transaction to show the significance of the transfer. |
Description
| Field Name | Access | Description |
|---|---|---|
| Short Description | Editable | Enter a description of 250 characters or fewer. |
| Detailed Description | Editable | The detailed information about the short-description field. The field size can be expanded. The business processes selected for auto-creation will copy this detailed description to the destination business process. |
Record Information
The Budget Transfer Record Information block displays details about the record.
| Field Name | Access | Description |
|---|---|---|
| Record Number | Read-Only | System-assigned record number |
| Status | Read-Only | Record status for a workflow BP record is based on the workflow action preceding the current workflow step. |
| Creator | Read-Only | Creator of this record |
| Creation Date | Read-Only | Date that the record was created |
| Record Last Update Date | Read-Only | Date that the record was last updated |
| Business Process Record URL | Read-Only | A shareable link to this record, for anyone with the necessary permissions |
| Project Name | Read-Only | Name of the project |
| Project Number | Read-Only | Unique Project Number |
Currency
| Field Name | Access | Description |
|---|---|---|
| Transaction Currency | Editable | If there are multiple currencies defined, use this field to specify a currency other than the project currency. |
| Rate in Project Currency | Read-Only | Exchange rate that will be used to calculate the Project Currency Amount. This will be set after the record is saved, submitted, or sent forward in the workflow. After it is set for a record, it cannot be changed. |
| Project Currency Amount | Read-Only | This field shows the amount of the transaction, according to the project currency. |
Consolidating Line Items
Budget Change line items can be consolidated from the following business processes:
- Budget Change
- Budget Transfer
- Change Order
- Change Request
- Contract
- Estimate
- Forecast
- Initial Budget
- Invoice
- Issue
- Journal Entry
- PO Amendment
- Purchase Order
- Risk
- Work Release
Completing the Line Items tab
General
Specify a cost code for this Budget Transfer line item.
| Field Name | Access | Description |
|---|---|---|
| Cost Code | Required | Enter a cost code. |
| Code Name | Read-Only | Populates the code name of the selected cost code |
Budget Details
Enter the cost for this line item as a credit (positive) or a debit (negative) amount.
| Field Name | Access | Description |
|---|---|---|
| Amount | Required | Amount of this line item |
Description
Enter a description for this Budget Transfer line item.
| Field Name | Access | Description |
|---|---|---|
| Short Description | Required | Enter a description of 50 characters or fewer. |
| Detailed Line Item Description | Editable | Enter additional detailed information about the line item description field. |