How To Understand The Financial Data in The Budget Section?

This article will walk you through accessing the “Budget” section and understanding the financial data associated with the project.

Written by Buildern Support

Updated 1 year ago

The budget section summarizes all the financial information related to your project. Select your project and go to the “Budget” section to access it.

You can pick and hide columns to be shown on the table.

Budget tab

In the budget tab, you can see the list of cost lines grouped by cost categories. The information about each cost line item is divided into the following columns:

Original Cost - this value is the original amount of the estimate, that was approved by the client or the initial amount the user entered in the estimates section.
Pending changes - this is the amount of pending approved change orders.
Variance - this is the amount of variance purchase orders, that are not linked to any CO.
Revised = Original + Pending + Variance
Estimated= Original Cost
Released PO - this includes the number of released purchase orders
Pending PO - this includes created and not released purchase orders
Bills - this includes the number of bills per cost item
Paid - this includes the number of bills that are already marked as paid.
Outstanding = Bills - Paid
Expected - this is the amount of released and not yet accepted change orders
Projected - this equals = Expected + Revised
Remaining = Revised - Bills %/total = Revised/Sum of Revised*100
Complete - this is a checkbox that can be set manually or is ticked automatically when Paid = Projected = Revised

There are also optional columns, where you can choose to see one of the following indicators:

Estimated vs Revised = Revised/Estimated*100 - 100
Estimated vs Projected = Projected/Estimated*100 - 100
Revised vs Expected = Expected/Revised*100
Estimated vs Projected = Projected/Estimated*100 - 100
Pending vs Revised = Pending PO/Revised*100
Bills vs Revised = Bills/Revised*100
Variance vs Revised = Variance/Revised*100
Bills vs POs = Bills/Purchase orders*100
Outstanding vs Bills = Bills not yet paid/Bills*100

At the bottom of the budget, you can access the totals section which shows the following information:

Price - shows the contract rate
Total costs - The sum of Revised
Actual margin =Total Price (from Estimates) - Total costs
Actual Profit - Price - Total costs
Expected margin - Total Price (from Estimates) - Sum of Projected
Expected profit - Price - Sum of Projected

Please note: You can export the following data right to your computer. Just click on the “Download” icon located next to the “Show/hide columns” and it will be downloaded in a CSV format.

If you still have any questions or require additional support, feel free to contact us: Send an email: [email protected], or give us a call at +1 (650) 334-0378. We’re always happy to help you.

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