Configuring Budget Settings

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Before you begin creating your budget, you need to set up the budget labels, savings formulas, categories and subcategories, vendors, taxes, and gratuity.


Defining Your Process

1 Access the Budget Options page. Personalize Cvent by making your cost display labels match your budgeting process. Begin by clicking Admin in the top right. Hover over Budget and, under Tracking, click Budget Columns.

2 Modify the columns. To deactivate or rename one of the columns, hover over the User-added image to the right of the column, and click Edit. Determine if the budgeting column will appear in your event and in reporting by establishing if it's Active or not. Then customize the name of the column.

 
User-added image
Click Save. Do this for each column you wish to customize.
 
NOTE: You cannot deactivate any budget columns that have been used in a previous event.
 
Setting Up Formulas

1 Access the Budget Options page. Create up to three formulas to calculate savings, like the difference between what was budgeted and the actual cost. Once set up, use them in your budgets as well as for reporting purposes. Hover over Budget and, under Tracking, click Saving Formulas.

2 Create savings formulas. Click Create Formula.
 
 
NOTE: Is the button greyed out? You already have three formulas created. To edit one of your existing formulas, hover over the arrow icon to the right of the formula, and click Edit. Make the necessary changes.

 
Give it a name. In the correct section, select the variables for the formula using the dropdowns.

 
User-added image
Click Save.

Setting Up Categories and Subcategories

1 Customize the budget categories. Hover over Budget and, under Tracking, click Budget Categories. In order to budget intelligently, you'll need to track how much you're spending and where. Modify the 15 predetermined budget categories by hovering over the arrow icon to the right of the category, and clicking Edit. Customize the name and determine if it will be active.

Click Save. Do this for each category you wish to customize.

2 Create subcategories. Get more specific with subcategories. Hover over Budget and, under Setup, click Budget Subcategories. Click Create Subcategory.

Select which budget category this will fall under and name the subcategory.

 
User-added image

Save and repeat as necessary.


Adding Vendors


1 Access the Vendor Details page. Track how much you're spending on your vendors so the data can be used in future negotiations. Hover over Budget and, under Setup, click Vendors. Click Create Vendor.

2 Enter all relevant information. Name the vendor. Enter the vendor's contact information to save yourself from searching for it in the future.

Click Save and add as necessary.


Setting Up Taxes and Gratuity

1 Access the Tax & Gratuity page.
Hover over Budget and, under Setup, click Tax & Gratuity Settings. Click Edit.

3 Set up tax and gratuity. Name your tax. Enter the default value, then choose if it should be determined by amount or percentage using the dropdown. Determine if it will automatically appear in your events.

Create more taxes by clicking Add Tax. Once you're done, click Save.


 

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