Enter Project Budget Changes

Prerequisites

The following steps assume you have already enabled the control change log and you want to process project level changes to the project's negotiated cost (NC), enter a value for authorized unpriced work (AUW), or make other contract budget base adjustments to undistributed budget (UB) or management reserve (MR).

  1. Select Project Data > Projects. The Manage Projects tab window displays.
  2. Click on the Structure [Select] dropdown in the Ribbon Menu and select the project you want from the list.
  3. Select the Change Control tab.
  4. Click on the Adjustment dropdown in the lower right of the tab.
  5. Select NC and AUW. The Project Adjustment dialog box displays.
  6. When applicable, in the Debit Acct dropdown, select the account you want to decrease the budget amount. In some instances, you may want to accept the default setting of None. For example, you would leave this set to None when you are increasing the authorized unpriced work. You have two other options for this dropdown - select either Authorized Unpriced Work or Negotiated Cost.
  7. In the Credit Acct dropdown, select the account you want to increase the budget amount. For example, when there is a contract modification that increases the authorized unpriced work, select the applicable account. You have three options for this dropdown: None, Authorized Unpriced Work, or Negotiated Cost. In some instances, you may want to accept the default setting of None when you are processing a debit transaction to either Authorized Unpriced Work or Negotiated Cost.

  8. When you have selected Authorized Unpriced Work in Step 7, the Addl Credit Acct dropdown is enabled. Use this option to also credit either Undistributed Budget or Management Reserve the same amount - these are the only two options for the dropdown.

    Tip:

    All changes to the negotiated cost should be processed through the authorized unpriced work account. Begin with a credit to authorized unpriced work and undistributed budget or management reserve to keep the contract budget base numbers in balance. Once the work effort has been negotiated with the customer, you would debit the authorized unpriced work account and credit the negotiated cost account.

  9. Enter the budget Value for the transaction. This could be a debit value, credit value, or transfer between accounts.
  10. For the Change Number, you can accept the auto generated number or enter a user defined reference number.
  11. Enter notes in the Comment section in the dialog box to document why you made the transfer.
  12. Click Save in the Ribbon Menu. The account values are updated in the Change Control tab.
  13. Optional. Close the Manage Projects tab.
  1. Select Project Data > Projects. The Manage Projects tab window displays.
  2. Click on the Structure [Select] dropdown in the Ribbon Menu and select the project you want from the list.
  3. Select the Change Control tab.
  4. Click on the Adjustment dropdown in the lower right of the tab.
  5. Select UB and MR. The Project Adjustment dialog box displays.
  6. In the Debit Acct dropdown, select the account you want to transfer budget from. For example, if you want to move budget from Undistributed Budget, select that account. The budget for the account also displays in the dialog box so you know the amount available to transfer.
  7. In the Credit Acct dropdown, select the account you want to transfer budget to. For example, if you selected Undistributed Budget in Step 6, you would select Management Reserve.
  8. Enter the Value you want to transfer between the accounts.
  9. For the Change Number, you can accept the auto generated number or enter a user defined reference number.
  10. Enter notes in the Comment section in the dialog box to document why you made the transfer.
  11. Click Save in the Ribbon Menu. The account values are updated in the Change Control tab.
  12. Optional. Close the Manage Projects tab.

What to Do Next

  • You may want to produce a budget change log report to verify your transactions. In the Run By report option, select Project when you want to review just the project level changes, select Account when you want to review the control account and subordinate work package changes, or select All to review the project level and control account level changes.