Examples of Tracking the Consumption of Individual Budgets

The following examples show how you can use budget allocations to track the consumption of individual budgets based on the timecard splits that are allocated to them.

Note:

In these examples, budget allocations are assigned to milestones because it is a quick way to set a default budget allocation which is then assigned to linked timecard splits. Assigning a budget allocation to a milestone does not cause any milestone amount to be allocated to the related budgets. Only timecard split values are allocated to budgets in this release.

Tracking Consumption of Individual Customer Purchase Order Budgets by Timecards

A project to supply a business system to a customer has two milestones named Consultancy and Training. The customer raises separate purchase orders for the consultancy and training phases of the project. The following customer purchase order budgets are created in the project, with the appropriate customer purchase order number stored in the Customer Reference field:

Budget Name	Customer Reference
Consultancy Funds	PO_1
Training Funds	PO_2

A budget allocation using the Consultancy Funds budget is assigned to the Consultancy milestone, and a budget allocation using the Training Funds budget is assigned to the Training milestone.

After a week's work on the project, your consultant submits a timecard for 3000 USD against the Consultancy milestone, and a timecard for 2000 USD against the Training milestone. When the timecard splits are included in financials, the Amount Consumed field on the Consultancy Funds budget increases by 3000 USD, and the Amount Consumed field on the Training Funds budget increases by 2000 USD. This means that you can immediately see how much of each budget has been consumed.

When the timecard splits are billed, PSA copies each budget's customer reference to the associated billing events: PO_1 is copied to the billing event created for the 3000 USD booked against the Consultancy milestone, and PO_2 is copied to the billing event created for the 2000 USD booked against the Training milestone. When the billing events are released for invoicing, these customer references are included on the invoices. This means that the customer can identify which purchase order each invoice relates to. For more information, see Passing Customer References through to Billing Events.

Tracking Consumption of Multiple Internal Budgets by Timecards

An internal project is funded by three budgets from three separate cost centers. The budget allocation assigned to a milestone is as follows:

Budget Name	Percent Allocation
Cost Center A	60%
Cost Center B	30%
Cost Center C	10%

A timecard for 1000 USD is submitted against the milestone. When the timecard's splits are included in financials, the cost is allocated across the three budgets as: Cost Center A 600 USD, Cost Center B 300 USD, and Cost Center C 100 USD. The Amount Consumed field on each budget updates to include these amounts so that you can immediately see if there is any risk of overspend.