Budgeting Module vs. Virtual Bookings

To create a quote/ budget you can use Virtual Bookings or the Budgeting module.

Below you'll find the main differences and advantages of both options.

Virtual Bookings	Budgeting

Pricing
Virtual Bookings are an inbuilt option to use in Projects in farmerswife. They are usually used for Quoting purposes.	The Budgeting module is a separately licensed option.

Structure
With Virtual Bookings, each Quote can have one or multiple "Virtual Bookings" where each VB has a Subtotal and you can change the order. So that give a bit more flexibility.	The Budget Module uses a FIX Structure that you setup on server setup level. It allows better comparisons but does not give much flexibility as you cannot rename the accounts or add Custom Fields (yet). There are Best Practices on setting up shot based structure or adding text elements.

Multiple Versions
Virtual Bookings allow to "save" quotes. But it's a bit more winded approach.	In the Budget window you can have as many not active quote or active quotes as you like.

Adding your services
You can add Objects to Virtual Bookings that are either hour/day based. You can also add Extras.	In a Budget you can quote by using Object Classes.

Price Agreements
Virtual Bookings - have to copy from VB to Final Invoice view	Budget - can set to default to copy to final/invoice view Forward to "To Invoice / Invoiced" View: Using this option will cause the Price Agreements to be copied to your invoice view (typically called "To Invoice/Invoiced" in the original database, or whatever name you gave it in your own) in the Project window - only if this view is pointing to Actuals (e.g. Bookings), instead of Active Budget. When later Actuals are attached to a Budget Detail, they also get added to the corresponding Price Agreement (a message pops up notifying about this). The Forecast and To Date Sell columns will not reflect the change. You would want to use this option so the same prices are applied when generating invoices for this Project. Forward to "Actuals" View: This option will copy the Price Agreements to the 'Actuals' view (typical name on the original database, or whatever name you gave it in your own). Use this option if you want to apply the Price Agreements not only to the final invoice view but also to the actuals view, so you get the good reporting across all states. If you've already attached Actuals and later use the options to forward the Price Agreements, you can multi-select the attached actuals and drag&drop onto the Budget Detail again to apply the Price Agreement to the Actuals. There's also an option to control this in the Budget window. The "Tools" menu contains a setting: "Forward Price Agreements To Project Views > No/Ask". Defaults to "No". If changed to "Ask", whenever you create or update a Price Agreement on an Active Budget, you will be asked if it should get forwarded to the "To Invoice / Invoiced" and "Actuals" views. The same will happen when you toggle the "Active" flag on a Budget.

Custom Fields
Virtual Bookings use the "project custom fields". So it's a bit more limited.	Custom Fields can easily be added on Budget level and information stored per budget.

Comparison / Reporting
With the Virtual Bookings you can do similar Reports but on Report level and only e.g. compared by Object Class.	The Budgeting window at a glance can give a better overview on what you've quoted/ budgeted vs how much was actualised (If you attach the actuals).

Related Articles