Budget Formula

The Budget Formula field is used to define the rules for calculating a particular project's fee budget value.  A number of the Project Costing reports allow for comparing actuals to budgeted amounts.  This formula allows you to specify how a particular fee value's corresponding budget can be calculated. For example your Total Labor and ODC Fee budget amount may be calculated as:

[Burdened Labor Cost] + [Burdened Expense Cost]

This formula can be referenced in the Cost Report definition by choosing the [Budget Fee Calculation Method] option in the Budget Formula field on that screen.  The result of the formula will be multiple by the Fee Factor (as defined on each project's profile accounting tab).

When constructing the formula, the available field values displayed in the drop-down list will include the various budget amounts available on the Project Profile - Budget tab.

Using the +, -, *, / operators and the "Insert Item" button, you can construct your custom formula.  Note that in addition to inserting specific fields, you may also construct formulas that include constant numeric values and support for precedence through the use of parenthesis.