Budgeting third-party costs
Plan and budget third-party costs with Vertec
How this feature creates benefits
By planning and budgeting third-party costs, companies can plan external outlays (for example, material or external services) in a targeted manner in individual project phases. This gives you more transparency as to which costs are planned in which phase. In addition, the actual status of these costs (planned, ordered, invoiced) can be compared with the budget. This facilitates more precise cost control and supports the early detection of deviations. By clearly allocating the types of expenses to phases, controlling in your project management becomes more efficient.
How it works
In Vertec, purchases – i.e. external outlays such as materials or external services – can be entered as a record directly on the respective project phases. Each expense item is assigned to a defined expense type for which a specific budget amount can be set. This creates a clearly defined financial framework for each phase.
The entered outlays are given a status such as "planned", "ordered" or "received". These statuses make it possible to compare the progress and the actual development of the expenditure against the initial budget. In an overview list, the totals of the individual status groups are compared, which allows for a structured analysis.
Optionally, it can be set in the system that only those types of expenses for which a budget has been defined can be entered on a phase. This creates additional commitment in project planning. For advanced requirements, Vertec also offers the option to perform individual calculations based on the entered outlays.
Knowledge Base Articles
Prerequisites
Modules "Services & CRM", "Purchases"
Related features
External Services, Budgeting projects and phases
Frequently asked questions
What ERP features does Vertec offer?
From service and expense recording to post-calculation, costing and controlling: With Vertec you are optimally positioned as a project- or mandate-oriented service company. With the Business Intelligence module, you can even visualize data directly in the Vertec interface.
A complete overview can be found in the overview of features.
How do I create a budget plan with Vertec?
Budget planning can be done in Vertec at the level of a project, sub-project, subphase, or service type, where you define the corresponding budgets. It is also possible to allocate budgets by customer or across all projects.
How can I allocate budget for my external services?
You can either budget these as an overall line or allocate individual lines to several projects.
Can I control my budgets across all projects?
You can have all projects or all phases displayed as a list, so you can see which budgets are planned where and which services and other costs have been incurred per project. With the BI module, you can visualize such data and adapt the presentation to your requirements.
How can I test Vertec without obligation?
You may test Vertec for 30 days free of charge and without obligation in your personal test environment.
Start your free trial now.
Can I compare my budgeted values with my actual values?
Yes, this is a standard feature of Vertec. You can enter budgets on a project, phase or on activity level. Performance recording makes it easy to display target/actual comparisons. With the BI module, you can visualize such data and adapt the presentation to your requirements.
Which company size is Vertec best suited for?
Vertec is ideally suited for companies with 20+ employees.
