Lessons
Basic Terms
The budgeting module is designed for initial budgeting (calculating the cost estimate/limit) of the project and subsequent entering of project costs (accruals and payments).
Create a cost estimate
You can create a project cost estimate as follows:
- Use a pre-defined cost estimate template
- Manually create your cost estimate form
- Download a saved template
Learn more on creating a new cost estimate in this module.
Import data from the scheduling module
You can automatically import actors, sets, props, costumes and other data from the scheduling module to the created blank cost estimate. This process is also described in more details in this module.
Accruals and payments
You can monitor and analyse actual project costs by accruals and payments.
Accrued costs (accruals) are the actual project costs incurred to date (both paid and unpaid) or, in other words, current liabilities to third-party contractors. Learn more about the costs in this module.
In turn, there are two types of payments, accounting and management payments, i.e. recognized as different management reporting items. Learn more about this classification in the payments module.
Fees
In accordance with the practice adopted in film production, for the convenience of working with gross and net amounts (before and after taxes), the term ‘commission fee’ has been introduced. Due to this, in the estimate form, as well as in any reports, you can see both the net remuneration/cost of services, and the amounts paid including taxes. More information can be found in a dedicated module.