How to Create a Budget by Custom Fields for Items

TABLE OF CONTENTS

• How Budgets by Custom Fields for Items Work
• How to Set Up a Budget by Custom Fields for Items
  • Step 1: Enable Custom Fields for Items for Budgets
  • Step 2: Include Custom Fields for Items When Creating a Budget
  • Step 3: Select the Budget on a Document

How Budgets by Custom Fields for Items Work

Budgets can be structured using custom fields for items. Chart of Accounts, Classes, and General Ledger are common options, but you can use other custom item fields that fit your purchasing structure.

Here is the workflow:

1. Set up Chart of Accounts, Classes, General Ledger, or another сustom field for items and make it available in budgets.
2. Include that field when creating a budget. Then create sub-lines under a budget line and assign the relevant field value to each sub-line.
3. In a document, select a budget that contains those sub-lines. For each item, choose the matching custom field for items value. Precoro assigns the item's amount to the corresponding budget sub-line and shows its Available in Budget amount.

For example, we have a budget with a budget line called Marketing Expenses that includes two sub-lines: Advertising Services and Software. 

After selecting that budget on an invoice:

• an item assigned to Advertising Services is deducted from that sub-line and shows its available amount;
• an item assigned to Software is deducted from the Software sub-line and shows its own available amount.

This lets different items in the same document draw from different budget sub-lines.

How to Set Up a Budget by Custom Fields for Items

Step 1: Enable Custom Fields for Items for Budgets

1. Go to Configuration → Custom Fields for Items.
2. Open (or create) the needed custom item field and check the Budgets checkbox.

For detailed setup of custom item fields, see How to Create and Manage Custom Fields for Items.

Step 2: Include Custom Fields for Items When Creating a Budget

1. When you create a budget, in the What to include section, select the custom field for items you want to budget by (for example, Class).

2. Each budget line comes with a sub-line by default: assign the relevant account, class, or ledger entry to it.
   
   If you need more than one, select Add sub-line and repeat for each additional account, class, or ledger entry.

The budget line total is automatically calculated from the totals of its sub-lines.

For the rest of the budget setup (periods, deducted sum, currency), see How to Create and Edit a Budget.

Step 3: Select the Budget per Item on a Document

1. Open a purchase requisition, purchase order, invoice, or expense.
2. On the document level, select a budget that includes the needed sub-lines.
3. In the items table, select the custom field for items included in the budget (for example, Class) on each item row.
4. The item's cost is counted against the matching sub-line, and Precoro shows the Available in Budget amount for it in a separate column.