Approve Budgets

Approve budget approval request

When a budget approval has been requested, the pending request appears in the Items Pending Approval list for all users with Approve Final Budget permissions. These requests are also displayed on the Home page in the Items Pending Approval section. Below are steps for responding to an approval request from the Cost "Quick Links" Menu.

  1. Go to the Cost Quick Links menu.
  2. Click Items Pending Approval.

    3. For a detailed description of this page, see Items Pending Approval Page Overview.

  3. Click the Approve or Reject link for each pending request.

Approve budget

If you have Approve Budget permission, you can approve a budget.

When approving a project with a currency that is different from the account currency:

  • If the budget has no line items or line items that have '0' value, approving the budget will not lock in an exchange rate.

  • If the budget has line items with a non-zero value, the exchange rate is locked in for the budget. Note that the budget can be approved only if there is an exchange rate for the approved date.

  1. Go to the Budget Details page.
  2. Click Approve.
  3. Enter the approval date.

    4. The approval date is based on the account time zone. This only applies to projects that have a currency different from the account currency.

    If an exchange rate was configured for the approved date, the conversion amount is displayed. You can click View Exchange Rates to view a list of all the exchange rates for the project currency that exists on the account for that currency.

    The Amount in account currency is based on the following calculation: Amount in account currency = Total budget in project currency / Exchange Rate

  4. Click Approve Budget.