We use a lot of projects in our business and we need to set expense and revenue budgets for each project and track it, is that possible?
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Yes it is possible. Budgets have been changed in Odoo 17.4 and we longer need dates on budget lines or budgetary positions. We can allocate budgets and track them on project following these steps:
- Let's assume we have a project for Pepsi.
- I will create two Budgets; one for expenses and one for Revenue and assign them to Project Pepsi:
3. At this point because the Budgets are not open yet, they will not be reflected on the Project Updates yet:
4. After I open both Budgets they will start to reflect on the Project Updates:
5. I will create an Invoice and a bill, hit the analytic account of the Project Pepsi and see how it will be reflected on the project's budget and on the revenue budget:
6. If an invoice or a bill is in draft state and hasn't been posted, it won't affect the project's budget but it will show in the project's profitability under the To Invoice:
7. After you're done with the budget you can mark it as done:
Thank you for the good question and the detailed explanation above.
Starting from Odoo 18, the budgeting framework has changed a bit and is now less convenient for practical use. You can still plan Revenue and Expenses on an accrual basis using Analytic Budgeting. Of course, your project must be defined as an analytic account to make this work.
When you post a Customer Invoice or a Vendor Bill, Odoo will record the budget consumption automatically.
However, the limitation of this approach is that it only covers accruals, not real cash movements. It doesn’t allow you to monitor planned and actual cash inflows and outflows.
To solve this, our team at ERPixel developed a dedicated Odoo Cash Flow Budget module. It lets you plan both incoming and outgoing payments by project, department, or business unit, and compare them with actual bank transactions.
This module also integrates with Payment Requests, which means you can pay only approved expenses linked to your budget.
Good luck with your project budgeting!
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