Create Budgets
Before you begin to create and edit budgets, set up your organization’s accounts, payers and vendors, if applicable. You will select these when entering activities, costs and charges on a budget. This user guide contains instructions for creating and editing budgets.
Set up accounts, payers, and vendors
To begin setting up accounts, payers and vendors, in the Finance top navigation bar, under Setup, make a selection.
For more information on set up, see the following user guides:
Set up Accounts and Sub Accounts
Set up and Manage Vendors
Access budgets
In the top navigation bar, under Studies, click on the dropdown menu to search for and select a study.
Click the Protocol Configuration and Budgets tab.
Tiles for each protocol version show the number of budgets and the name of the current active budget, if any, for the protocol version.
Click a protocol version tile to access related budgets and protocol-only settings.
Click a budget tile to open budget details.
Enter or edit budget information and defaults
Budget information
Budget-level information applies to the entire budget. This includes the budget name, start date, end date, holdback rate and overhead.
Important! The Budget Start Date and End Date determine whether charges flow through to Accounts Receivable (AR) and Accounts Payable (AP). Charges flow through to AR and AP only for visits and activities completed after the budget Start Date and before the End Date, if entered.
Budget defaults
Setting default accounts and sub-accounts streamlines the process of validating charges. Default accounts and sub-accounts are auto-assigned to costs and charges, but these may be edited at the line item level. Costs and charges assigned to an account go into Accounts Receivable (AR) or Accounts Payable (AP) with a status of Applied, bypassing the process of manually updating the status from Pending to Applied. Budget defaults will apply to all budget items unless values are entered at the line item level.
To enter budget information and defaults:
On the bottom right of a budget tile, click the pencil icon.
On the Budget slide-out window, enter or edit budget information and defaults. The only fields that are required are Name and Start Date. They are marked with an asterisk.
Optional fields include End Date, Holdback Rate, Overhead, Default revenue account, Default expense account, and Default sub-accounts.
At the bottom right, click Save Budget.
Navigate budget details
Click a budget tile to display details below.
Tabs display for Summary, Patient Activities, Visits, Events, Miscellaneous Charges, and Analysis. By default, the budget opens on the Summary tab that shows a summary of budget information on a grid. The grid shows visits along the top and a list of activities on the left.
On the top left of the grid, under Event/Arm, make a selection to display related visits.
Under the Event/Arm dropdown menu, select whether to show Charge or Cost.
Check the With OH box to display values including overhead, and/or check the With INV box to display values with invoiceable charges.
On the grid, select a visit or activity to open the item on the related budget tab. For example, select the Inclusion/exclusion criteria activity to open the details on the Patient Activities tab.
On the right of the Budget screen, you can also quickly +Add Budget, Export Budget, Export Billing Grid, Edit Visit Assignments, or Add Unplanned Visit.
Navigate budget lists
Budgets contain tabs with lists of Patient Activities, Visits, Events, and Miscellaneous Charges. Select a tab to show the related list below. On all budget lists, you can apply filters, search, sort, and open slide-out windows to edit budget settings and information.
On the lists, apply filters or search to quickly find what you are looking for.
Click a column header to sort the list in ascending or descending order.
On the list, click a name to open a slide-out window and enter site-specific customizations and budget information such as charge, cost, overhead, and holdback.
At the bottom right of the slide-out window, save the information.
Create a budget
Best Practice: Creating a budget for a new study protocol version
When a study moves to a new protocol version:
On the budget associated with the current protocol version, leave the end date blank to continue capturing charges for participants who are on the associated study protocol version.
Create a new budget associated with the new protocol version.
Example: AllGood Version 5 Budget: Start Date = January 1, End Date = Blank AllGood Version 6 Budget: Start Date = October 1, End Date = Blank
For protocol versions without a current active budget
At the top right of the Protocol Version screen, click Add Budget.
On the Create Budget window, enter required information: Name, Study-Protocol, and Start Date. The End Date field is optional and may be left blank to keep the budget active for an indefinite period.
At the bottom of the window, under Budget to Copy, select the budget to copy, if desired. By default, the Budget to Copy field selects the current budget, if available.
At the bottom right, click Create Budget.
For protocol versions with a current active budget
A protocol version may have multiple budgets, as long as active dates do not overlap.
At the top right of the Protocol Version screen, click Add Budget.
On the Create Budget window, enter required information: Name, Study-Protocol, and Start Date. End Date is optional and may be left blank to leave the budget open for an indefinite period.
If an active budget exists for the protocol version, the window expands to show the Current Active Budget name and End Date of Current Active Budget. If needed, enter an end date for the current active budget that is before the start date for the new budget.
At the bottom of the window, under Budget to Copy, select the budget to copy, if desired. By default, the Budget to Copy field selects the current budget, if available.
To clear the selection and create the new budget from scratch, click the X at the right of the selected budget name.
At the bottom right, click Create Budget.
When copying a budget from one protocol version to another, a notification will list any differences in protocol settings for visits, activities, and visit activities that could impact settings copying over to the new budget. At the bottom of the notification, click Continue with Create to create a new budget based on the selected budget to copy, or select Cancel to exit the Create Budget window.
On the Protocol Configuration and Budgets tab, you can also customize your site’s protocol by adding site-specific activities, creating finance aliases, and changing activity order and visibility. For more information on these configurations, or for detailed information about entering and editing budget settings and details, see the Populate Budgets user guide.
Have questions?
If you have any questions or need assistance, additional resources are available:
Send an email to Site CTMS Support: support-sitectms@verily.com
Contact your Client Engagement Manager
