How can I create a budget transfer?

Using the budget transfer tool in Projectmates allows for quick movement of funds between sub-items within a project budget.

To create a budget transfer:

Helpful Hint: An approval for this feature is required. Either having the approval workflow set up from Site Admin Settings > Global Approvals, or within the Project Admin Settings > Budget is necessary to proceed.

1. Once in the project, under "Cost Tracking/Contract Mgmt", expand the Budget menu and open the budget
2. Click Budget Transfers on the left-hand menu within the budget window

   Helpful Hint: If you don't see this option, you likely don't have the proper access to edit the budget. If you are an Administrator, you can check your role in the project to see if it needs to be updated. If you are not an Admin user, please reach out to your Administrator for assistance.

3. Click + Transfer in the top-right corner
4. Select a Reason Code and Transfer Amount
5. Select the From Budget Sub-Item location, then click Add
6. Select the To Budget Sub-Item location, then click Add
7. Enter a Narrative (optional) to explain the reason for the transfer
8. Click Save & Next
9. Add any Attachments or URLs relevant to the transfer (optional)
10. Click Save & Next
11. Select the Approval workflow for the transfer and Start Approval

    Helpful Hint: Once the approval workflow is complete, the monies will be transfer to the new budget sub-item that was selected. The value will display in Column G on the Budget tab.

Click here for additional information on managing a project budget within Projectmates.