Budget Overview

The Budget displays a holistic view of financial data from your project. Budget data is imported into a table from several financial areas across your project, including estimates, approval documents, invoices, bills and if integrated, Quickbooks Online. It can be customized and shared with homeowners. 

Key Benefits

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Table of contents

1. Navigation and layout
2. Data Fields
3. How data updates
4. Permissions and sharing

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Navigation and Layout

The budget can be accessed from the left menu from within any project.

Organizing Costs: Two views

The budget page can display costs in two ways: 

1. Organized by Cost items like the estimate.
2. Organized by Cost Codes, a set of accounting codes (e.g. NAHB, 16 divisions, etc.) which may or may not match how the estimate is organized.

Access Project Details - Financials to change this Setting.

Customizing Column headers

The budget is organized into four sections:

1. Budget (Green) - Displays hard costs
2. Profit Summary (Blue)- Displays markups
3. Price Summary (Light Purple)- Displays customer prices
4. Invoiced Summary (Light Purple)- Displays collected and outstanding amounts from client invoices

Drag sections and column headers to change their position.

Select the Column Picker or to add or remove columns.

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Customer View Column Picker

You can share select budget details with clients using the Customer View column picker. To learn more, scroll down to the section title Sharing the Budget with Clients.

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Budget Data fields

The budget displays data across many different cost areas. Learn what data each column contains by hovering over the column header.

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View Summary

The Budget Summary provides a breakdown of cost and markups in several key financial areas:

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How to update financial data

As project costs change over time, your budget will update based on the creation/integration of expenses (bills), invoices, and approval documents.

Some column data, like Completion Status, Work Completed, and Internal Notes, can be updated on the page. Others are pulled from other areas of Ressio.

Learn how to update these columns below.

 

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Original Budget

Go to the Estimate page.

Locking the Estimate will populate the Original column with the builder cost from your estimate.

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Approved/Revised

When Change orders and Selections are created, approved, or declined, the Approved and/or the Revised column data will update. 

Go to the Estimate to create these, and manage them in Approvals.

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Committed

Create a Purchase Order to update the Committed column.

Purchase Orders can be created on the Estimate page.

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Applied Actuals

Actuals are project expenses. They can be material expenses, labor costs, or invoices from subs and suppliers.

These expenses can be created in Ressio, or synced from Quickbooks online.

Bills/Quickbooks 

Bills are project expenses in the form of invoices and receipts.

• See Bills Overview to learn how to add and approve expenses.

• See Quickbooks Integration Overview to learn how to pull in expenses from Quickbooks

Labor

Many builders incur labor costs as well. Along with bills, these labor costs can be tracked as Time Charges.

• See Time clock for Admins

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Invoice Summary

The Invoice Summary section of the budget includes columns such as Cooected, Invoiced, Outstanding and Balance Remaining.

Data in these columns can be updated by creating, releasing, and marking as paid Invoices in Ressio.

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Permissions and Sharing

The budget can be kept private for you and/or members of your team, or parts of it can be shared with clients.

Team member permissions

Budgets can be withheld from team members in two ways:

1. Users with the role of Team Member or Field User can be added to and removed from projects.
2. Field users are unable to view financial information in projects.

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Sharing the budget with clients

At a minimum, Ressio will share the starting and current price with the client. This is done by locking the estimate when the contract is signed.

There are a few settings in Project settings -> Customer -> Budget that control how much of the budget a client can see.

Fixed Price Project

Cost-Plus Project

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Budget Column Visibility

On cost-plus projects after adjusting budget settings you can now configure client column right on the Budget Page. 

1. Navigate to the 'Budget Page' on your project and on the right hand side, you will find the 'Customer View' panel underneath 'Columns'.
2. Click on the 'Customer View' and a drawer will pop out. 
3. You can:

   1. Select or deselect which budget columns clients can view for this job.

   2. Import visibility settings from templates or previous projects for efficiency.

     4.  Hit 'Save' to put in action.

     5.  Once you save, you can also then hit 'Preview' , to view what the client will see on      their end. It is the same view as what you would see clicking on the 👁️ on the top left of your project.

Customer Portal View

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Exporting the budget

The budget can also be shared by exporting to a spreadsheet.

To export, right-click anywhere in the budget and choose Export.

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If these settings appear to be correct, and you are still having difficulty, please contact support@ressiosoftware.com.