Project Budgeting Template for Sage Intacct
What is a Project Budgeting Template?
A Project Budgeting Template is a comprehensive tool that project-based businesses use for planning. It allows project managers and budgeting executives to estimate project revenues, expenses, and profitability. Users can input project details, such as project type, hours, rates, start and end dates. The template then automatically associates the expenses and revenues with the corresponding GL account number for the corporate budget based on the project type. The budget is allocated across active project months, and a displayed variance compares total revenues and expenses with actual data from the previous year.
Purpose of Project Budgets
The purpose of project budgets is to analyze the profitability and financial metrics of projects. Companies and organizations use them as part of their best practices in the Project Management Office and Budgeting Department. This approach leads to better resource planning, increased profit margins, and a lower risk of capacity problems.
Benefits to Users
Using a Project Budgeting Template offers significant benefits to business users, including the ability to make informed decisions leading to greater efficiency and productivity. This type of budget form provides a clear picture of the financial health of a project, allowing users to adjust their strategy and allocate resources more effectively. Accurate forecasting helps managers identify potential issues and make informed decisions to mitigate risks before they become significant problems. By using a standard template across all projects, the budgeting process can be streamlined, reducing errors. Better understanding of project finances allows users to optimize budgets and resources, leading to better outcomes and increased profitability for the company. Overall, the use of a Project Budgeting Template improves decision-making and helps business users become more efficient in their jobs.
Project Budget Example
Here is an example of a detailed Project Budgeting Form for revenue and expense planning.
You can find hundreds of additional examples here.
Who Uses This Type of Budget Form?
The typical users of this type of budget form are: Project Managers and Planning Executives.
Other Budget Forms Often Used in Conjunction with Project Budgets
Progressive Project Management Office and Budgeting Departments sometimes use several different Project Budgets, along with payroll, capital expense and profit & loss budget forms, project reports, project dashboards, and other management and control tools.
Where Does the Data for Analysis Originate From?
The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others.
In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards?
Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards
Only Solver delivers a one-day rapid deployment, including free and instant access to $100K of value available on Day 1 in the Solver Marketplace. Solver is committed to helping you with all your advanced planning and reporting needs, so you can Accelerate Better Decisions – starting now. Take a free tour of Solver for any of these ERPs: