About Vendor Budgets

When creating a new project A collection of activities and related items to be managed over a defined time range, such as timecards, expenses, milestones and budgets., or assigning a vendor resource A contact that works on a project. to an existing project, you must create a vendor budget An amount used to manage expenditure on customer purchase orders, internal budgets, outbound vendor purchase orders and work orders. A budget must be associated with a project.. When creating a vendor budget:

• Ensure the Type field is set to Vendor Purchase Order.
• Ensure the Account field is populated with the account name for that vendor.

When you create a vendor purchase order budget, a new object called Budget Header is created and associated with your budget. By default, the budget header enforces strict limits on the amounts vendors can invoice for, based on the Amount and Expense Amount fields. You can edit the budget header to allow these amounts to be exceeded. See Editing Budget Headers.

When the vendor resources enter timecards and expenses, PSA associates those timecards with the appropriate budget header for the vendor account for future invoice creation and reconciliation.