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Contents of the New Business Budgets Screen

Use the New Business Budgets screen to create budgets for new business, new contract bids, new work on existing contracts, or for any situation where a planning budget is needed but the project does not yet exist within Costpoint.  

Before you can enter basic budget details, you must create a budget ID and establish a work breakdown structure (budget hierarchy). See Create the Work Breakdown Structure for a New Business Budget for more information and instructions. This topic includes important information about rules and requirements related to creating the work breakdown structure (WBS).

After you establish the WBS, you can create the budget. However, you can only budget at one level of the hierarchy, so you must create the budget at that level. See Create a New Business Budget for instructions.

You can create multiple versions of a budget and assign a version code to each version you create. When multiple Complete versions of a budget exist, you must mark one version as final. Versions you mark as final will be used in reports and integrated with organization budgets.

Contents

Field Description
New Business Budget ID

Enter the New Business Budget ID or click to query or sort your search.

Use this to query an existing new business budget. If you want to create a new business budget, you should enter the Top level of the budget ID and then click NEW to create the top level budget.

Description

This field displays the detailed description of the New Business Budget ID.

Level

This field displays the level of the Work Breakdown Structure (WBS).

New Business Budget Status Table

Refer to the table below for more information about each field within the New Business Budgets screen, including the subtasks where you will enter specific budget details.

Column Headings Description
Create Budget At the WBS level you wish to create the budget, select this check box then use the subtasks link to enter budget details, such as Revenue Setup, Hours for resources, Amounts and Staff Escalation.
Modify Budget Select this check box to modify the working version of new business budget.
Commit Budget Select this check box to commit the Working version of the new business budget.
New Business Budget ID This is a required field. Enter the New Business Budget ID or click to query or sort your search.
Description This column displays the detailed description of the new business budget.
Version This column displays the version of the new business budget.
Version Code Enter, or click , to select a code you want to assign to the current version. The Lookup displays version codes entered on the Manage Budget Version Codes screen.

If the budget is imported from Excel, the version code defaults to N/A.

Final Version Select this check box to mark the version as final. For each budgeted level, you must mark one version with a Status of Complete as final. If no version is marked as final, an error message displays and the record cannot be saved.

Versions marked as final are included in reports. (Those with a Work Type of Proposal that are marked as final are not included in project budgets and some organization budget reports)

They are also integrated with an organization budget if your company uses the integrated method to calculate Org revenue.

Note: The integrated method is in effect when Org Budget Revenue Calculation in Configuration Settings is not selected as Org Revenue Calculation. Contact your System Administrator for questions regarding this setting, which is configured during initial system setup and should not be changed.
Work Type This column displays the work type of the new business budgets. For new records, use the drop-down menu and select from the following work types:
  • Add On
  • New Work
  • New Business
Status This column displays the status of the budget such as Working or Completed.
Level This displays the work breakdown structure level of the current row.
Active This check box is checked by default. When unchecked, it becomes inactive and the system automatically removes the New Business Budget from CER tables and any integration with Org Budget/Outlooks or Resource Planning screens.

If you set the New Business Budget ID to inactive, the Create Budget, Modify Budget and Commit Budget check boxes will be disabled. You also cannot edit an inactive New Business Budget.

The changes you made to the Active flag, will cascade down to the lower level budgets.

  • If one version of the budget is inactive, all versions of the budget and the lower level budgets become inactive too.
  • If the parent budget is inactive, a child cannot be active. the New Business Budget ID may not be set to active when the parent budget is not active
  • If the top level WBS is made ‘inactive’, all levels are also made inactive.
  • If a second level WBS is made ‘inactive’, then lower levels are also made inactive and so on.
Shared Select this check box to share the budget.
Source Budget Type Choose the source that you want to use for the budget, or choose Blank to create the budget from scratch. If you create it from scratch, there are no other required fields to complete in the New Business Budget Status table, and you can begin entering budget details by selecting any of the subtasks

To create the budget from an existing source, choose one of the following options:

  • Project Budget: Select this option to create it from a project budget.
  • Project EAC: Select this option to create it from a project EAC.
  • New Business: Select this option to create it from another new business budget.
Opportunity ID This column is integrated with Manage Opportunities in Costpoint CRM & Contracts and allows you to establish a direct link between the new business budget and an active opportunity, if Use Planning is selected on the opportunity record.

If the budget is not yet linked to an opportunity, this field displays a value of None.

You can only link to an opportunity at the top level of the budget, and the Opportunity ID saved at that level is automatically applied to the lower levels.

Click  to display the opportunities that are available for linking. Choose the opportunity to which you want to link and click Select.

After you save the record, the Opportunity ID is applied to all existing levels and displays as hyperlink, which opens the opportunity record in Manage Opportunities. The record is read-only or editable depending on user rights.

After the link is established, note the following:

  • The ID can only be changed if no completed budgets exist.
  • You receive a system message if the status of the opportunity changes from active to inactive.
Opportunity Description This field displays the description of the Opportunity ID associated with the budget.
Source Budget ID If you are creating the budget from another source, enter the ID for the source budget or click to look it up and select it.

Budget IDs that were migrated from the older Proposal Budgeting module are available to you here, when you select New Business as the source budget.

Source Version No This column displays the source version number.
Source Work Type This column displays the source work type of the selected source budget.
Owner This column displays the owner of the new business budget.
Start Date This column displays the start date of the budget if starting the budget from scratch, or edit if copying from a Source Budget.
End Date This column displays the end date of the budget if starting the budget from scratch, or edit if copying from a Source Budget.
Periods This column automatically displays the periods of the budget.
Weeks This column automatically displays the weeks of the budget.
Probability This column displays the probability that the new business will be awarded. This column displays a default probability of 100%. The value is editable, and existing values other than zero are not overwritten.
In addition, the percent value in this field is also applied to:
  • Cost and revenue amounts that are uploaded from new business budgets to organization budgets/outlooks. The default value (100%) is applied if no other value exists.
  • Key reports within Organization Budgeting, New Business Budgeting, and Business Intelligence.
Escalation This column displays the escalation details of the project budget which you can add or edit.
Org ID This column displays the Org ID of the budget. Choose from the drop-down menu of Orgs.
Account Group This column displays the account group of the budget. Choose from the drop-down menu of Project Account Groups.
Burden Template The Burden Template column is only enabled for budgets that have a status of Working.

The value in this fields display as DEFAULT if your System Administrator has not designated a specific burden template as the default version. The system DEFAULT template is based on the Current FY Pool Configuration.

Click to select the Burden Template that you want to use to calculate burden for this Budget/EAC.

Burden templates are created and managed from Planning > New Business Budgeting > Controls and Utilities > Manage Burden Templates.

Currently, the Burden Template is set to DEFAULT which means it is using the Current FY Pool Configuration.

Note This column displays any note or comment about the project budget.
Modified By This column displays the name of the user who modified the budget.
Modified Date This column displays the date when the budget was last updated.
Created Date This column displays the date when the budget was created.

Subtasks

Click the subtask links to display the lower level details of information.