Create a budget

Set a spending target for a team, department, cost center, location, or project, and track spend against it.

Steps

1. Open Budgets and click New Budget (available from either the Dashboard or Budgets tab).
2. Fill in the sections:

Basic Information — Budget Name, Description, Fiscal Year, Currency, and Owner.

Scope (Assign To) — choose one target: User, Department, Cost Center, Location, or Project. Picking one locks the others; choose All on an axis to apply the budget to everyone. At least one scope target is required.

Period and amount — set the Budget Type (Recurring or One-Time), Period Type (Monthly, Quarterly, or Yearly), Total Budget Amount, and Start/End Date. Optionally tick Distribute evenly across periods, Allow rollover, or Shared limit.

Budget Allocation — split the total across periods in the grid. Use Add Category to add rows (categories expand to show vendors). The Unallocated row shows anything not yet assigned.

Overspend Controls — set the policy and utilization thresholds. See Set overspend controls and thresholds.

GL / Accounting — pick the GL account.

3. Click Save Draft to come back later, or Save & Activate to start tracking.

Budgeting a project

If you set the Scope to a Project, Tera prefills the start/end dates, currency, and total amount from that project's plan, and adds a WBS Allocation grid. See Budget a project across its WBS.

Note: A budget covers a single fiscal year. For work that spans years, create one budget per fiscal year.