--- title: How to Create a Budget description: Budgets allow work order costs to be tracked against a budget allocated for a contractor or site --- [Skip to content](https://help.fmiworks.com/knowledge/how-to-create-a-budget#main-content) English Show submenu for translations [Log a Ticket](https://help.fmiworks.com/knowledge/kb-tickets/new?hsLang=en) [Go to Customer Portal](https://help.fmiworks.com/support?hsLang=en) [![Logo.svg\]](https://help.fmiworks.com/hubfs/Logo.svg)](https://www.fmiworks.com/) Open main navigation Close main navigation - English Show submenu for translations - [Log a Ticket](https://help.fmiworks.com/knowledge/kb-tickets/new) - [Go to Customer Portal](https://help.fmiworks.com/support) Get expert help, any time you need it - There are no suggestions because the search field is empty. 1. [Help Centre](https://help.fmiworks.com/knowledge?hsLang=en) 2. [Facility Teams](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en) 3. [Financial](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#financial) # How to Create a Budget ## Budgets allow work order costs to be tracked against a budget allocated for a contractor or site This article is for FMI Works users who have been given the permission of Works Manager  ### How Budgets can be used There are two options when using the Budgets feature to track work order costs. 1. Budgets for specific contractors. 2. Budgets for sites. #### Budgets for contractors These are budgets for work done by a specific contractor, where a contract agreement is in place, for an agreed dollar amount. The agreement can cover one or many sites. For example, a Budget for a contractor that has been engaged to conduct planned maintenance. #### Budgets for sites These are budgets for work done at specific sites. There is an agreed dollar amount for a particular site and/or trade. For example, an electrical budget per site, which rolls up into the total electrical budget for multiple sites. ### Steps for creating a budget Budgets work together with [Contracts](https://help.fmiworks.com/knowledge/how-to-manage-contracts?hsLang=en). Follow these steps to set up your budget. 1. Add a new budget. 2. Create a contract. 3. Link the budget to the contract. #### Step 1: Add a new budget Go to the *Services* module and select *Financials* \> *New Budget.* *![](https://help.fmiworks.com/hubfs/image-png-Jul-24-2023-11-10-34-0572-AM.png)* To add a new budget: 1. Add a *Name* for the budget. 2. Choose the *Financial Year* or tick the *Use custom dates* checkbox and enter the *From Date* and *To Date*. The selected dates control the budget status, and the system will automatically update the status from *Active* to *Expired* once the expiry date has passed. 3. Add the total *Planned Amount $* (numerical value only). 4. Select *Save Budget.* 5. Once the budget is saved, a confirmation message will appear. #### Step 2: Create a Contract A budget must be linked to a contract before the budget is operational. To create a contract for the budget, follow the instructions in [How to Create a Contract](https://help.fmiworks.com/knowledge/how-to-manage-contracts?hsLang=en). A budget that is not linked to a contract cannot be used, as the contract enables the work order costs to be linked to the budget. #### Step 3: Link the budget to the contract Go to the *Services* module and select *Financials* \> *Budgets.* Locate your budget and then select the *Modify* button next to the relevant *Budget Name.* *![](https://help.fmiworks.com/hubfs/image-png-Jul-24-2023-11-12-12-2549-AM.png)* From the *Edit Budget* page, select *Add Contract Budget.* ![](https://help.fmiworks.com/hubfs/image-png-Jul-24-2023-11-12-27-3312-AM.png)This will open the *Add Budget/Contract* window. ![](https://help.fmiworks.com/hubfs/image-png-Jul-24-2023-11-12-44-1990-AM.png) The *Choose Contract* field contains a drop-down list of all contracts. Select the relevant contract and enter the *Planned Amount of Budget* to be allocated to this contract. Once this is done, select *Ok.* Select *Save Changes.* Note: A budget can be linked to multiple contracts. This is useful if different budget amounts need to be allocated to different sites. You will need to ensure that the *Planned Amount* for the linked contracts adds up to the *Planned Amount* on the budget. ### Worked Examples #### Example #1: Contractor Budget A contractor has been engaged to conduct planned maintenance for three sites. The budget amount is $30,000 for the current year. 1. Create a budget for $30,000 for the year. 2. Create a contract for the term of the agreement with the contractor. Add the three sites to the Contract. 3. Select *Modify* option on the budget to add the contract to the budget. #### Example #2: Site Budget A total budget of $20,000 has been allocated for electrical work across two sites. The first site has a budget of $15,000 and the second site has a budget of $5,000 for the current year. 1. Create a budget for $20,000 for the year. 2. Create a contract for the first site for $15,000 then create a contract for the second site for $5,000. 3. Select *Modify* from the budget and add the first contract to the budget with the *Planned Amount* of $15,000. Then add the second contract to the budget with the *Planned Amount* of $5,000. ### More information See articles [How to Use Budgets to Manage Costs](https://help.fmiworks.com/knowledge/how-to-use-budgets-to-manage-costs?hsLang=en), [How to Edit a Budget](https://help.fmiworks.com/knowledge/how-to-edit-a-budget?hsLang=en), and [Reports for Managing Budgets](https://help.fmiworks.com/knowledge/reports-for-managing-budgets?hsLang=en). - [Resources](https://help.fmiworks.com/knowledge/resources?hsLang=en#main-content) - [Getting Support](https://help.fmiworks.com/knowledge/resources?hsLang=en#getting-support) - [Overviews](https://help.fmiworks.com/knowledge/resources?hsLang=en#overviews) - [Set Up](https://help.fmiworks.com/knowledge/resources?hsLang=en#set-up) - [Advanced Set Up](https://help.fmiworks.com/knowledge/resources?hsLang=en#advanced-set-up) - [Product Updates](https://help.fmiworks.com/knowledge/product-updates?hsLang=en#main-content) - [FMI Works Product Updates](https://help.fmiworks.com/knowledge/product-updates?hsLang=en#fmi-works-product-updates) - [Pulse Product Updates](https://help.fmiworks.com/knowledge/product-updates?hsLang=en#pulse-product-updates) - [Technical & Security](https://help.fmiworks.com/knowledge/technical-security?hsLang=en#main-content) - [Application Programmer Interface (API)](https://help.fmiworks.com/knowledge/technical-security?hsLang=en#application-programmer-interface-api) - [Cloud Specifications](https://help.fmiworks.com/knowledge/technical-security?hsLang=en#cloud-specifications) - [Operational Requirements](https://help.fmiworks.com/knowledge/technical-security?hsLang=en#operational-requirements) - [Security Policies](https://help.fmiworks.com/knowledge/technical-security?hsLang=en#security-policies) - [Security Updates](https://help.fmiworks.com/knowledge/technical-security?hsLang=en#security-updates) - [Facility Teams](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#main-content) - [Assets](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#assets) - [Dashboards & Reporting](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#dashboards-reporting) - [Financial](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#financial) - [Locations](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#locations) - [Planned Maintenance](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#planned-maintenance) - [Standard Requests](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#standard-requests) - [Supplier Management](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#supplier-management) - [User Management](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#user-management) - [Work Orders](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#work-orders) - [Attachments](https://help.fmiworks.com/knowledge/facility-teams?hsLang=en#attachments) - [Requesters](https://help.fmiworks.com/knowledge/requesters?hsLang=en#main-content) - [Accessing FMI](https://help.fmiworks.com/knowledge/requesters?hsLang=en#accessing-fmi) - [Requests](https://help.fmiworks.com/knowledge/requesters?hsLang=en#requests) - [Contractors](https://help.fmiworks.com/knowledge/contractors?hsLang=en#main-content) - [Accessing FMI](https://help.fmiworks.com/knowledge/contractors?hsLang=en#accessing-fmi) - [Accreditations & Inductions](https://help.fmiworks.com/knowledge/contractors?hsLang=en#accreditations-inductions) - [Quotes](https://help.fmiworks.com/knowledge/contractors?hsLang=en#quotes) - [Work Orders](https://help.fmiworks.com/knowledge/contractors?hsLang=en#work-orders) [![FMI](https://help.fmiworks.com/hs-fs/hubfs/FMI%20Logo%20Orange-1.png?width=99&height=33&name=FMI%20Logo%20Orange-1.png "FMI")](https://www.fmiworks.com/) Copyright © 2026, FMI Software Pty Ltd trading as FMI Works