The Contract Budget Items table is used to hold budget records for Contracts. Each record contains a fiscal year, cost center, budget amount, and is linked to a Contract record. Records in this table are created from within Contract records, where they are displayed in a related table under the 'Finance' tab. All Active/Paid Contract Items linked to a Contract make up the total budget for that Contract.

Use Case

If a Sourcing Event containing Sourcing Budget Items is converted to a Contract, the Sourcing Budget Items are converted to Contract Budget Items and linked to the newly created Contract.

Contract Budget Items can also be created or modified by a Contract Manager. A Budget Manager fully controls all Contract Budget Items for Contracts.

The ability to add Contract Budget Items to a Contract is dependent on its Cost Type; only Contracts with Cost Type 'Payable' can have Contract Budget Items associated with them. Under the 'Finance' tab in Contracts, one can select the Cost Center and Fiscal Year, add a Budget Amount, and click the 'Add Budget' button to convert the details to a Contract Budget Item.

All Contract Budget Items are created in an 'Active' status by default. A record's status can be changed to 'Canceled' if it no longer needs to be counted towards the overall Contract budget. If all payments against a Contract Budget Item have been made, the status can be updated to 'Paid'.

Ownership

Contract Budget Items are owned by their creator. Specifically, a Contract Budget Item record is owned by the user whose Login matches the Creator Login field.