With this new feature, it will be a lot easier to keep track of things that are important to you as an owner. You can now:
- Allocate your budget for your cost centres.
- Track if your expense costs are still within your project's allocated budget.
- Review and edit your submissions right after you submit them.
1. Submit your expense(s) by filling out the form with the required information.
2. After submitting your expense(s), you will be directed to the new Expense Submission Page.
You can see two (2) new tiles on your submission page:
1. Total Expenses
This tile shows the sum of your submitted expenses. Click the tile to highlight its breakdown.
2. Expense Budget
This tile shows the budget status you allotted for the cost centres on your project. If you have no budget yet, click the tile to allocate a budget.
Note: This tile is only applicable for payment claim system project (milestone/lump sum/reference date) type.
Budget is based on the following computations:
- On Budget = Budget (per cost centre) > Current Costs Inclusive of GST
- Off Budget = Budget (per cost centre) < Current Costs Inclusive of GST
- You have no budget yet! = no budget
2.1 Upon clicking the Budget tile, the Expense Budget Modal will open. A prompt that explains this modal will appear for the first time. Click Continue.
2.2 Input an amount on the Budget field to allocate it to the corresponding cost centre. This budget is project-based.
2.3 Current Costs is the amount in your expense submission. Clicking the amount on Current Costs Exclusive of GST will open a modal that displays the breakdown of the amount.
2.4 Click on the Total amount to highlight or show its computation.
2.5 Click Save after making changes on the Budget. After saving the data, you will be redirected to Forecast Tool - Expenses tab. Changes made on the Expense Budget tile will reflect here.
You can learn more about the Forecast Tool here.
1. You can also review and update your latest submissions on this page.
Note: Reconciled expenses cannot be updated unless you have enabled unlock reconciled expenses.
2. You can also add a new expense submission on this page by clicking the Add Row button.
3. A new expense row highlighted in light blue will appear. Just fill out the information and click on Save button to submit the added expense row.