The budgets in Fizure can contain an unlimited number of line items (e.g. things like equipment costs, man hours and material costs that you have to keep track of).
The uploaded budget can be divided into categories and subcategories.
Check the following guide to learn more.
PS: If you are still in the role of preparing the budget for your project, you may find the following resources useful:
Where can I find the project budget template?
You can download an example Fizure project budget template here or by clicking "Download Template" when creating a new project.
What information should my budget include?
The only two columns you need to fill out are "Article name" and "Estimated" (for estimated cost). The rest are optional.
A) Fizure lets you easily upload your budget similar to the following one where you just track the line items and associated costs :
To upload such a simple budget, just fill in FIzure budget template as seen on the following image:
B) Or a more comprehensive budget where you want to track items on the unit level, where jobs are divided into categories and where you keep track of estimated costs and the project budget for the project manager.
Which cost codes should we be using?
You can upload the budget with the cost codes that you prefer. Just enter the preferred values in the ID column. The values can be numbers, text or text and number. Example IDs 001, 12, E1, EE.
However, in order to get the most out of your company's spend data, we strongly recommend using one set of cost codes for all projects that are run in the company.
This lets the estimators to access and use historic costs data for estimating, let's project managers quickly find past item costs, contracts, pay applications and more.
Why and how to use budget categories
It's smart to divide your budget into chronological phases (Site preparation, foundation works,..., roofing, etc.) So when the project is ongoing, you'll be able to track how the first phases ended up costing compared to your plans. If you've exceeded the budget you can immediately take action.
Additionally, you can divide the budget into categories by events, materials, labor, services, etc.
To divide the budget into categories, just add the Category in the Article name column and leave the following columns empty.
The first level categories need to be marked with 1 in the Hierarchy column.
If the first level article contains subcategories, then the first level subcategory needs to be marked with no 2. Similarly, you can mark N number of subcategories.
How to keep track of estimated units, quantities and costs
You can upload your budget spreadsheet with the line item estimated costs, units, and quantities.
Once you exceed the budget for any item, keeping track of estimates lets you analyze who made the error: if the materials and jobs were poorly planned by the designer, or were the costs poorly estimated.
Upload your budget spreadsheet with the proposed cost to the customer (Optional)
Project budget for Project Manager (Optional)
When the estimated budget and the budget for project managers are different, then the project manager budget should be added in the column marked with the red arrow.
When uploading such a budget, the initial cost forecast of the budget will be equal to the project manager budget.
When the project is ongoing and you update the project cost forecast, then you can keep track of the cost forecast change from the dashboard.