Create 4 Line Duration Budget (Copy)
Andrea Jaroslawski
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28 steps
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2 minutes
Workday
Create Baseline Budget
- Projects **must** have an **End Date** in order to have a budget. - If an End Date is missing, you will be prompted to enter it during budget creation.
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- On the project record, click [[Financials tab]] - Click [[Plan]] subtab
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- Click [[Create Budget]]
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- For [[Plan Name]] field, enter the **Project Name followed by *'Baseline'***
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- For [[Plan Calculation Type]] field, select **Duration by Task (from Resource Forecast) (Baseline)**
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- For [[Project Budget Template]] field, select **Matrix Billing Budget**
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- For [[Project Budget Template Options]] select **Apply to All Project Plan Tasks**
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- [[Revenue Calculation Method]] will default to **Project Time and Expense**
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- Click [[OK]]
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Click [[Done]]
Generate Plan Workbook
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- Click [[Financials tab]], then [[Plan]] subtab
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- Navigate to Baseline Plan - Click [[...]] next to Plan Name
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- Under Actions, hover over [[Plan]] - Select [[Generate Plan Workbook]]
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- Click [[OK]]
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- Click [[OK]]
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- Click [[OK]]
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- Click [[Done]]
Maintain Budget via Plan Workbook
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- Click [[Financials]] tab, then [[Plan]] subtab
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- Click the [[link]] under [[Plan Workbook]]
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- A prefilled Worksheet will open with one **Labor** and three **Nonlabor Revenue** lines for each Project Task
If **Project Tasks** are added to the Project Plan **after** Budget creation, you will need to: 1. Manually add one labor row and three nonlabor rows (if applicable) per Project Task 2. Select Project Plan Task 3. Select Revenue Category (see options below) 4. Select Currency 5. Enter revenue amount as a credit (negative value) 6. The fields below (Column A : Column C) will autofill 1. Cost/Revenue, Labor/Nonlabor, Company **Revenue Categories:** - Services *(Labor)* - Pass Through Subs & Equipment *(Nonlabor)* - Pass Through Other General Expenses *(Nonlabor)* - Pass Through Travel and Expense *(Nonlabor)*
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- In the [[Amount]] column, enter the total for each line as a **credit** (negative dollar amount)
Before closing or navigating away from the Plan Workbook, you **must** complete the next step: Update Plan from Workbook
Update Plan from Workbook
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- Click [[Actions]]
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- Under Actions, hover over [[Plan Workbook]] - Select [[Update Plan from Workbook]]
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Click "OK"
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Click "Done"
- Navigate back to Project Record to continue process via the browser back arrow or Workday Search Bar
Assign Plan as Baseline
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- On the project record, click [[Financials]] tab - Click [[Plan]] subtab
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- Click [[...]] next to the Plan name
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- Under Actions, hover over [[Plan]] - Select [[Assign Plan as Baseline]]
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- Click [[OK]]
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