The Budget Tracker
Setting up financial years, entering budget and variations, and the two-stage approval chain.
The Budget Tracker holds budget, variations, and expenses for a project, split by financial year. Budget entries route through a two-stage approval — Finance first, then the threshold approver.
Getting there
- Through the Project Folder under the Program workspace
- Via the Project Link in the intake sheet, then the Budget Tracker icon on the Project Dashboard
- Via the Budget Tracker hyperlink in the Navigation section of any other project sheet
Project Information pulls through from intake: Project Title · Cluster · Objective · Project Leader · Project Type · Indicative Project Budget
Set up the financial years first
Find the Budget section and the FY 20XX placeholders beneath it. Replace each placeholder with the actual years spanning the project.
Do this before anything else — the Expenses section replicates whatever FYs you set here.
Entering a budget
Under each FY, the first row is the Budget row (Budget Type = Budget).
Step 1. Enter a Description (optional) — what the budget is for.
Step 2. In the Account column, find the cell containing <<Add Budget Account Code>> and select the applicable Account Code.
The Account Code copies itself to the other appropriate cells once selected. Set it once, correctly.
Step 3. Confirm Finance Email has pulled through from the Contact Matrix.
Step 4. Confirm the Approver matches the budget threshold. Thresholds are managed in the Reporting Line Matrix.
When testing: stay within your own threshold so the approver resolves to you.
Step 5. Enter the amount in Budget.
Step 6. Tick Send for Approval and save the sheet to trigger it.
The approval chain
Automation: 5. Approval for Budget
| Stage | Notification | Trigger |
|---|---|---|
| 1. Finance review | review — · | When rows are added or changed, and Budget is changed |
| 2. Approver sign-off | sign-off — · | When Finance Approval is Approved |
| 3a. PL notified — approved | : approved | When Approval is Approved |
| 3b. PL notified — declined | : needs another look | When Approval is Declined |
Once approved:
- Approval Date populates with today's date
- The row locks. Approved budget rows can't be edited — use a variation instead.
Entering a variation
Under each FY, the second row onward are Budget Variation placeholders (Budget Type = Budget Variation).
Same process as budget, with two differences:
- The Account Code must align to the Budget row above it
- Entering the amount triggers the approval process directly — there's no separate Send for Approval tick
The approval chain and notifications are identical.
Entering expenses
The Expenses section replicates the FY rows from Budget. In any expense placeholder row:
Required:
- Expense Name
- Description
- Account — must align to the Budget row above
- Contracted
Locked:
- Actuals — entered only by SM Finance
Optional:
Invoice Amount · Invoice # · Invoice Date · Vendor · Invoice Payment Date · Payment Status
Rollups
The template is hierarchical. Figures roll up at two levels:
- FY level — each Financial Year row totals its child rows across all numeric columns
- Project level — the Budget parent row and Expenses parent row total all financial years
Project Information also carries a Budget Summary by Account, showing Budget, Contracted, and Actuals per account code.
If rollups look wrong, check the hierarchy before checking the formulas. A row indented at the wrong level won't total into its FY.
Related articles
- Setting Up the Contact and Reporting Line Matrices
- The Project Plan
- The Project Dashboard