Budget Management

Create project budgets, allocate funds across cost categories, and track variance in real time.

Accessing Budgets

Navigate to Project > Cost Management > Budgets

Creating a Budget

1. Click Create
2. Fill in the budget details:

Field	Description
Budget Name	Descriptive name (e.g. "Website Redesign Q2 2026")
Project	Link to an existing Odoo project
Total Budget	Total allocated amount
Currency	Budget currency (supports multi-currency)
Start Date	Budget period start
End Date	Budget period end

3. Click Save

Budget Lines

Break the total budget into line items by cost category:

1. Under the budget, click Add a line
2. For each line, set:

Field	Description
Cost Category	Labour, Materials, Software, Travel, Overhead, etc.
Planned Amount	Budgeted amount for this category
Analytic Account	Links to Odoo Accounting for automatic cost capture

3. The Total auto-calculates as the sum of all lines

tip

Create budget templates for recurring project types. Go to Cost Management > Configuration > Budget Templates to save and reuse common structures.

Budget Variance

The module tracks variance in real time:

Column	Description
Planned	Original budgeted amount
Actual	Costs incurred to date (from timesheets, invoices, expenses)
Variance	Planned minus Actual
Variance %	Percentage over or under budget

• Green: under budget (variance positive)
• Red: over budget (variance negative)

warning

Budget overruns trigger an automatic notification to the project manager when actual costs exceed the planned amount by a configurable threshold.

Budget Approval Workflow

1. Create a budget in Draft status
2. Submit for approval: status changes to Pending
3. The approver reviews and clicks Approve or Reject
4. Approved budgets become active and start tracking actuals

Revising a Budget

1. Open the active budget
2. Click Revise
3. Adjust planned amounts
4. Add a revision note explaining the change
5. Submit for re-approval if required

The revision history is maintained for audit purposes.

Need Help?

Contact SDLC Corp at sdlccorp.com/contact-us