Budgets can be thought of as the total amount of financial resources that are allocated to a project, and can be made up of more detailed, sub-budgets. The purpose of creating budgets and sub-budgets in Mastt is to provide control over the actual project costs and ensure we are tracking if the project is over or under the budget, a metric which we call variance. To create a budget, follow these easy steps.
Step 1: From the , click 'Add Budget'. This can be done from the 'Overall' page or 'Budgets' page.
Step 2: From the Add Budget form, enter a Budget Title, Amount and Status. We can add sub-budgets afterward!
Step 3: Once you've created a budget, you can then create sub-budgets from the
Step 3: The Add Sub-Budget form allows you to add Sub-Budget rows by clicking 'Add Sub-Budget'. To each row, add a Sub-Budget Title, Amount and Status. We can add even more sub-sub-budgets if you need to, up to 7 layers!
A few rules to be aware of:
- You can't add sub-budget amounts that total more than the parent budget. The light grey 'Unallocated Budget' row at the bottom is there as a guide to show you how much you have left to allocate.