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Budget Setup
How to Create a New Budget?
How to Create a New Budget?

Create a new budget once your deal is won or create it from your Project management or Financials tab.

Updated over a week ago

Budgets can be created in a couple of ways.

Create a budget by winning a deal

A deal is a term we use for a pitch that can turn into a project but it's still in the sales phase.

Here you can add all the services you'll sell to your client with the rates/prices for those services along with estimates for your internal purposes. Click here to learn about adding services to your deals and budgets, the process is the same!

When you mark a deal as Won here's how you can proceed:

1) create a new project from this deal
2) add the deal's budget to an existing project

3) create a budget from a deal without a project
4) don't create a project and just mark the deal as Won

In case you decide to proceed with one of the first three options, you'll have to enter budget details such as the name of the budget, budget date, budget end date, subsidiary, document template and budget owner.

The rest can be your custom fields, some of which are required. In our example below, Business unit, Client industry, Type and Expected invoicing Date are all custom fields.

In case you've chosen to create a project along with the budget or to add the budget to an existing project, you'll be able to find the budget in question in the Budgets tab of your project.

However, in case you've created a project-less budget, you'll be able to find your budget in Financials > Budgets only.

Create a budget directly from the project

You don't necessarily need a deal to create a budget. If that is the case, a budget can be created directly from an existing project.

To achieve that, open the project in question from the Project management tab, head over to the Budgets tab and click on the +Budget button in the upper right corner.

In Step One of the Budget wizard which opens after clicking on the +Budget button, you have the option to create a new budget from scratch, copy an existing one, or use a budget template.

Moving on to Step Two, within the Budget wizard, you select the client, project, budget name, currency, start and end dates, subsidiary, and owner of the budget.

Additionally, you can associate document templates with the budget, and if enabled, obligatory custom fields will be available for you to fill in.

Tip: In case you want to create a budget for internal (non-billable) purposes, select the "Internal" option from the very top in the Budget wizard.

Learn more about internal projects and budgets here.

Create a budget from the Budgets tab

To create a new budget while in the Financials tab > Budgets, simply click on the +Budget button in the upper right corner.

This will open the Budget wizard, allowing you to specify if you want to create a new budget, copy an existing one or use a budget template.

You can also associate it with a project, decide on the budget name, owner, subsidiary, start and end dates, and configure templates and custom fields as needed.

Tip: Create a budget on this page using quick-add options!

1) Hover over the Financials tab and click on the + button next to Budgets.

2) Select the Budget option from the quick-add dropdown.

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