Manage Cost Code Budgets for Projects

Overview

Add a New Cost Code with a Budget

Copy Cost Codes from Another Project

Update a Cost Code Budget

Understand Budget Updates vs Variations

Bulk Update Budgets Using Spreadsheet Import

FAQs

Videos

Overview

Cost code budgets define how project costs are planned and tracked in Lentune. You can assign budgets when creating cost codes, update them individually, or make bulk changes using spreadsheet import. Budgets can also be revised through variations, allowing you to separate original estimates from approved changes. Reviewing cost code budgets regularly helps ensure accurate forecasting, visibility of committed and spent costs, and alignment between project performance and financial expectations.

Add a New Cost Code with a Budget

When creating a new cost code, you can assign a budget at the same time.

Within a project, click "New cost code". Enter the required details, including code, description, cost type, project, general ledger code, and budget amount. Click Save to create the cost code with its initial budget.

Copy Cost Codes from Another Project

You can copy cost codes from an existing project to save time and maintain consistency.

Within a project, click More, then select Copy from other project. Choose the project you want to copy from, then select whether to copy budgets.

If you choose to copy budgets, the initial budget values will be brought across with the cost codes. If not, the cost codes will default to a $0 budget.

Update a Cost Code Budget

You can update a budget by editing the initial value on a cost code.

Double-click to open the cost code, update the Initial Budget field to the new amount, then click Confirm to save your changes. This method is best used when correcting or adjusting the original budget.

Understand Budget Updates vs Variations

Editing the initial budget changes the original value and does not create a variation record. Use this approach when correcting a budget.

If you need to track changes separately and retain the original budget, create a variation instead. Variation values will appear alongside the cost code and contribute to the revised budget.

Read this article to learn more about creating and managing variations.

Update Budgets Using Spreadsheet Import

For bulk updates, you can export cost codes, edit them in a spreadsheet, and re-import the changes.

Within a project, click "More", then "Export to Spreadsheet". Open the downloaded file and update the InitialBudget column and the RevisedBudget column so that they are the same value - unless you have variations against the cost code, in which case these values will be different. Save the file, then return to Lentune and select Import from spreadsheet to upload it.

Read this article to learn more about creating and managing variations.

FAQs

When should I edit the initial budget instead of creating a variation?
Edit the initial budget when correcting or adjusting the original estimate. Use variations when you need to track approved changes separately.

Can I update multiple cost codes at once?
Yes, use the export and import spreadsheet feature to update budgets in bulk.

How do variations affect cost code budgets?
Variations add to the original budget to create a revised budget, helping track approved changes separately.

Videos