Budget Tracker

Limited Availability

Keep an eye on your budget with real-time cost reporting. Enter or import your budget, manage your costs, forecast, and track-all in one place.

Budget tracker provides the ability to:

• Import your budget from HotBudget, Showbiz, or Movie Magic in just a few clicks
  
• Track and manage each line of your budget with the ability to drill down to source payables
  
• Export a detailed cost report to share with stakeholders with a single click

To access the budget tracker, click Track Budget from the project dashboard or Actualize>Budget on the left navigation panel. You can also click View Budget from within the project dashboard. Within the budget tile, you will see a quick snapshot of the working budget, actual spending, and any variance between the two.
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Budget tracker dashboard

Compare your budget with actual spending (by summary, section, or line), then drill down to source payables to analyze any unforeseen differences.

At the top of the dashboard, view the project name, project ID, and the total number of days remaining in the project.

Just below, you’ll see a snapshot of the actual costs (what has been spent), awarded (awarded budget), overages (billings), and total (awarded budget + overages).‍

Keep track of variances

‍View the actual variance (spend vs total budget) and working variance (budget vs working). If the project is under budget, the variances will appear in green with a (-). Over budget, it will be in red with a (+).‍

From the dashboard, you can:

• Export a PDF of the on-screen cost report to provide to accounting
• Import your budget from Hot Budget, Showbiz or Movie Magic
• Add production, insurance, or contingency fees manually. (These costs will be reflected in the cost report but not actualized.)
• Access two different tab views: Summary: summary view of all sections with the ability to drill into line numbers / Summary + lines: nested view of sections + line numbers

Navigating tab views

There are two choices for viewing your budget: Summary, or Summary + lines 

Summary view acts as a top sheet, providing a view of all budget items, whereas Summary + lines is a nested view, visibility into sections and line numbers.

• To view line numbers, click the section name or the + sign to expand. This will provide visibility into the line numbers associated with each section.
• To edit a section, add fees, or fringes, click on the three dots next to a section. When editing, you can update the quantity, days, and rate.
• To view quantity, days, and rates, click Show Details in the Summary + lines tab.
• To view, edit, or add overages, click Overages. You can also access overages from the left navigation panel under Actualize.
• In the Summary + lines tab, use Jump to Section to quickly navigate between sections and lines and use the search field to quickly access line numbers.
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Importing and managing budgets

Importing a budget

From the budget tracker dashboard, click Import.

Select the radio button of the budget file you will import. Choose from: HotBudget, Movie Magic, or Showbiz.

If you would like to override cost descriptions with the imported file, enable Override cost code descriptions by selecting the toggle. 

Select the file to import and click Import.

Once imported, the budget file will appear under the Summary view.

Adding fees & fringes

Account for overhead business costs and/or markups (rent, staff employees, etc.) Choose from production, insurance, or contingency fees.

• Click Add Fees and select the type of fee you want to add.
• Across all fees that are added, you have the option of adding them to the summary level and at the section level.
• If adding this fee to a budget, you have the option to account for this cost as a percentage (%) and carry over the calculated dollar amount to actual & working.

Note: To add fringes, click on the three dots next to a section.

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‍View all transactions, edit a transaction, or add a new transaction

Adding a working budget item

To add a transaction, click on a line number. This will open the transaction drawer on the right hand side of the screen. Select the Working Budget tab. Click Add Item.

1. Type in a Payee name
2. Select the type of transaction: payroll, petty cash, or purchase order
3. Choose a sub-category: disbursements, expenses, or funding
4. Enter a rate, quantity, and date along with a description of the item and click Add

Editing a working budget item

• To edit an item, click the pencil icon. Click Update once edits are completed.
• To close the window without making any changes, click Cancel.
• To remove a payable, click the pencil icon > trash can.