---
title: The Budget Tracker
description: How the Budget Tracker works in Smartsheet, including budget approval routing, variations, expenses, and rollups.
---

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# 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

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