This improvement lets you create and apply cost adjustments directly from the Budget vs Actual table in the project financials section, without navigating to a separate estimate. This improvement is currently in Early Access with access provided upon request. If you're interested in checking out this feature, please contact your Customer Success Manager.
What's changing?
Previously, recording a cost adjustment required navigating away from project financials to build a separate estimate. With this improvement, the Create Adjustment button appears above the Budget vs Actual (BvA) table. From the editor, adjust cost values by segment and assign general ledger (GL) accounts per line item. Save your work as a draft or apply the adjustment, and the BvA table recalculates right away.
Resources
Before and After
Before (Current)
Go to a project and open the Financials section.
Click Actions and select Build Estimate.
Create a cost-only estimate with the adjustments you need.
Sell the estimate to record it as a cost adjustment.
Return to the Budget vs Actual table to see the updated figures.
Impact: Recording a cost adjustment requires building and selling a separate estimate outside the project financials view.
After
Go to a project and open the Financials section.
Click Cost Adjustment > Create Adjustment above the Budget vs Actual table.
In the Cost Adjustment Editor, edit values in the Cost Adjustment column for the segments you want to adjust.
In the editor, enter a dollar amount and assign a general ledger account.
Click Save to confirm and apply your changes.
Impact: Cost adjustments are created and applied directly from the Budget vs Actual table without building a separate estimate.
Who uses this feature
Residential Construction and Commercial Construction
Administrators, managers, accountants, bookkeepers
Region availability: All regions
How it works for your industry
Residential Construction
A project manager reviewing a residential framing project notices material costs have shifted. They open the Budget vs Actual (BvA) table, click Create Adjustment, and edit the cost value for the Materials segment directly in the editor.
An accountant sees that labor hours on a bathroom remodel exceeded the original budget. They open the Cost Adjustment Editor, enter the adjusted amount, and assign the correct general ledger (GL) account before saving.
After a change in material sourcing, a project manager uses the Cost Adjustment Editor to record an updated cost for the Rough-In phase and saves a draft for review before activating the adjustment.
Commercial Construction
A project manager on a multi-phase office build needs to revise the budget for a specific cost segment. They click Cost Adjustment > Create Adjustment above the Budget vs Actual (BvA) table and enter the new value directly in the editor.
An accountant needs to record an unplanned material cost for a commercial renovation. They open the Cost Adjustment Editor, assign the relevant general ledger (GL) account, and apply the adjustment without leaving the financials section.
After a subcontractor change, a project manager saves a draft cost adjustment for the Subcontractor segment and reviews it with the accounting team before activating.
How to prepare?
This feature is currently in Early Access with limited access. If you're interested in trying this feature, please reach out to your Customer Success Manager.
After you're in the Early Access:
Confirm which project managers and accountants will use this feature and share the new workflow with your team before the release date.
Review any cost adjustment estimates currently in progress and decide whether they should be completed before adopting the new workflow.
Bookmark any knowledge base articles or Academy videos for team training.