Master Budgets

A master budget allows you to define a larger account than an engagement budget (spend). Each engagement associated can with a budget is tracked against a budget amount, with the application calculating the budget for total spend, amount remaining, and estimated spend and remaining amounts.

Master budgets can be associated with a department, however, the VMS does not require engagements to have the same department.

Each master budget is owned by a client manager. The correct permission (Sr. Mgmt (Director and Above) - Client) is required for budget ownership. For more information about this permission, see Client User Permissions.

If you need to create a new master budget from, for example, unused funds, you can use the roll-over action auth the master budget level. Rolling over budgets creates a new budget with the remaining amounts and engagements originally added to a budget. Note that closed engagements, existing billing items, and funds for existing billing items cannot be rolled over into a new master budget. You can also bulk transfer engagements from one master budget to another. For more information on these budget tasks, see the following:

You can additionally enable budget creation and revision approval for a master budget. For more information about approval routing, see Budget Settings.