Use Procore's Budgeting Tool to efficiently manage your project budgets and forecasts. By automatically aligning your contracts and change orders with your budget, Procore makes it easy to review financial performance for a single project, or across many projects.
Procore's Budget tool is always up to date with the latest contracts, change orders, and direct costs, so you don't have to copy data from reports into spreadsheets or request an updated report from Accounting. Using Procore's robust permission structure, you can provide visibility to key team members, giving them insight into the project's financial status. When combined with the power of Procore's accounting system connectors, job costs will automatically sync from Accounting and give you the up-to-date picture whenever you want to see it. With the Budget Tool's drill-down functionality, you won't have to dig through other reports to confirm whether a certain cost or change order has been incorporated. You can click on any number, see, and link to all of the included items.
Procore's budget modification ability provides a simple way of moving funds between lines without needing to make an official change order in the system. Budget modifications are stamped with the user, time and date, and reason for the change. The log of all budget modifications provides an excellent audit trail, and you can quickly access all modifications for a particular cost code with the drill down functionality in the Budget.
Procore forecasting features are a perfect blend of power and ease of use. In addition to automatically aggregating the current state of all contracts and change orders, you have the ability to do a detailed multi-line entry of forecasted costs to complete for each line on the budget. Notes can be recorded for each line as well, and all of this data can be viewed inside of Procore or printed as a PDF. Procore's budget snapshot capabilities lets you save "snapshots" of your budget at regular intervals, such as monthly forecast submissions, which will show you how the project's estimated cost at completion and anticipated savings/loss has changed over time. Historical snapshots can be analyzed, including the full detail of each line's notes and projections.