Year-by-year budget tracking for a multi-year project

Preamble

For multi-year projects, you may be asked to track your project budget year by year. Find out how Abraxio can help. 

View a multi-year project budget by fiscal year  

To view your project's budget by financial year for a multi-year project, the various budget amounts must be indicated for the corresponding years in the schedule for your budget line.  

Example below:

In this way, you can navigate between the different annual budgets for your project via the “Budget zoom” drop-down list in the Portfolio module at the detailed project budget level, see screenshot below: 

Or directly from your project's “management” screen for a macro view: 

Compare your project budget with established references

To compare your project budget with established financial references, go to your detailed project budget and select the “compare” button. 3 sub-tabs will appear: 

- Quick Access: Allows you to move up to the top of the list of the baseline report, the initial order and the reference order for the year. 

- Flash Report: Allows you to pull up all the project's flash reports. 

- Statements: Allows you to pull up all by-laws related to the fiscal year on which budget zoom is active.

Default budget zoom setting

If you have the “administration” option, you can configure the default “budget zoom” that will be presented in the detailed project budget of the Portfolio module. To do this, go to “admin”>“portfolios”>“budget”. 

1. Full budget: the project budget is presented by default over the entire project period
2. Current budget: the project budget is presented by default, with a zoom on the current budget. 

Monitoring a multi-year budget in a Flash Report 

Flash reports enable you to report on your projects and activities by taking a snapshot of all project/activity data at a given moment. For more information on flash reports, please refer to this article: Flash reports

If you're tracking a multi-year budget, you can choose to view the entire project budget directly from your flash report, or select the budget for one year of your project. 

In full project budget :

1. The Ref. column is populated with data from the reference flash report
2. The Init. column is populated with the initial budget entered in the project.

When zooming in by fiscal year, budget comparisons are made with the Finance module statements:

1. The Ref. column is populated with data from the reference Finance statement
2. The Init. column is populated with data from the initial Finance statement
   

Please note: the reference and initial statements must be configured from the Finance module. The method is explained in the following chapter “Configuring ‘reference’ and ‘initial’ statements in Finance”.

Configuring ‘reference’ and ‘initial’ statements in finance

In order for values to be displayed in the flash report when the budget is set to “Zoom by fiscal year”, the “Ref” and “Init” values must be set from Finance by the budget manager. 

From the Finance module, go to the budget name and select the “initial” and “reference” statements.  

Once this action has been completed, they will also appear as a quick-access item in the detailed project budget for comparison.

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