Project Budget: Update of Budget Lines
When you select an inventory item in a project budget line, the system automatically populates the unit rate of the line. The mechanism of retrieving the unit rate depends on the budget line type and is supported on the following forms: Projects (PM301000), Project Templates (PM208000), Change Orders (PM308000), Change Requests (PM308500), Project Quotes (PM304500), and Project Budget (PM309000).
Update of the Project Budget by Released Transactions
The following diagram illustrates how the system updates the project budget on the release of a project transaction depending on the settings of the budget level and the budget update.
Unit Rate in a Revenue Budget Line
When you select an inventory item in a revenue budget line—that is, a line with the account group of the income type, the system automatically fills in the unit rate of the line with the item price. The system searches for an applicable price of the inventory item that is effective on the start date of the project or the document date among the sales prices existing in the system. For more details on how the system searches the price, see Automatic Price Selection: Rules of Price Selection.
Unit Rate in a Cost Budget Line
When you select an inventory item in a cost budget line—that is, a line with the account group of the expense type, the system automatically fills in the unit rate of the line with the item cost.
If the type of the selected inventory item of the budget line is labor—that is, the Labor option is selected for the item in the Type box in the Item Defaults section on the General tab of the Non-Stock Items (IN202000) form, on the Labor Rates (PM209900) form, the system retrieves the labor cost rate of the Labor Item type that is associated with the same inventory item and that has an effective date that satisfies the start date of project or the document date.
If no labor cost rate is found or the type of the selected inventory item of the budget line is not Labor, the system retrieves the following costs depending on the type of the inventory item:
- For a stock item: The Average Cost of the item from the Price/Cost tab of the Stock Items (IN202500) form
- For a non-stock item: The Current Cost of the item from the Price/Cost tab of the Non-Stock Items (IN202000) form
The following diagram illustrates the logic the system uses to select the cost for an inventory item.
Quantity in Budget Lines
The quantities in budget lines (Actual, Committed, Budgeted CO, Committed CO, and Potential) are updated in a project budget record if all of the following conditions are true:
- The project transaction has a UOM specified.
- In the project budget record that matches the transaction, a UOM is specified.
- The list defined on the Units of Measure (CS203100) form includes the conversion from the project transactions UOM to the budget record's UOM.