When a single project encompasses various work streams, billing models, or service lines, tracking everything under one financial umbrella can get complicated. By enabling multiple budgets within a project, you gain granular control over time tracking, expenses, and team allocations.

Enabling multi-budgets

To enable the multi-budgets feature for your entire account:

1. Click on your Profile icon in the navigation sidebar and select Settings.
2. From the left-hand menu, scroll down and click Financial management.
3. Check the box labeled Enable multiple project budgets.

Creating budget fields

Each budget can have its own individual fields. To create a new budget field:

1. Navigate to Settings and scroll down to the Fields section.
2. Select Budget Fields.
3. Click Add new budget field or Add a new section.
4. Configure the field by assigning a Name and a Type. You can also add a description and mark the field as private if needed.

Creating multi-budgets in a new project

1. Go to the Projects tab and click New Project.
2. Under the Financials tab, select the Multi Budget option.
3. Click New Budget to create the first budget.
4. Enter the Budget name, Status, Billing method, Start date, and End date.
5. Configure the billing method fields based on your selection:

6. Fill in the budget fields in the next window and click Save.
7. Repeat steps 3 to 6 to add more budgets to the project.

Creating multi-budgets in an existing project

1. Open the project.
2. Go to Project Settings.
3. In the Budget Management section, click Add Budget.
4. For each budget, enter a budget name (for example, Discovery or Implementation), configure the billing type and revenue recognition method, set the status, and fill in any custom fields.

Once a budget is created, manage it using the More actions (three-dot) menu next to the budget name:

• Set as default - Make a specific budget the primary reference for project financials.
• Check audit logs - View a detailed history of changes and updates made to that budget.

Managing budgets in projects

Once budgets are added to your project, you can configure additional settings from inside the project. Go to Project Settings, navigate to Budget Management, and open a budget. You will see a window with three tabs.

Budget details and custom fields

Review and update native fields such as name, dates, billing method, status, revenue recognition method, amount, and hours - as well as any custom fields and sections configured at the account level.

Custom fields can be used to store information such as:

• Linked sales order or opportunity identifier
• Region or business unit
• Any other financial or operational metadata needed at the budget level

You can also link a Salesforce object from this section.

Adding team members to budgets

In the Team Members section, add the individuals authorized to work against this budget, or remove those who should not consume from it.

Effects of budget membership:

• Only team members in a budget can be allocated to that budget.
• Only those members can track time and record expenses against that budget when restrictions are enabled.
• Removing a member from a budget does not remove them from the project. Removal from the project only happens through project-level actions.

Linking revenue entries to budgets

In the Revenue Entries section inside the budget settings, you can recognise revenue against the budget in the same way you would for a project.

Linking tasks and phases to budgets

When your project uses more than one budget, you may need to distribute specific tasks or phases across different financial lines. For example, a "Requirements Gathering" task could be tracked under a Discovery budget, while a "User Training" phase draws from a separate Enablement budget.

To associate a budget with a task or phase:

1. Open the Project Plan.
2. Select the specific phase or task you want to edit.
3. If editing a task: Navigate to Additional info in the task window, scroll to Financial settings, and select the budget or budgets the task should consume from.
4. If editing a phase: Click Edit project phase and select the appropriate budgets.
5. Save your changes.

With budgets linked to tasks and phases:

• Time tracked against that task or phase uses the selected budgets.
• Expenses linked to that task or phase use the same budgets.
• Auto allocation for that task consumes from the chosen budgets.
• Budget filters in the project plan can be used to focus on items linked to specific budgets.