To add a new budget account:
- Click on
Loan Servicing in the left panel of The Mortgage Office®. - Click the Loans drop-down.
- Click Construction from the Loans drop-down.
- From the grid, select the loan record you want to modify.
TIP: If the record you want to edit is not visible, use the grid's vertical scroll bar to scroll the contents of the grid up or down, or click 
Find to search for the record by entering your own search criteria. For additional information see How to use find and How to use the data grids.
- Click
from the options available on the top panel or double-click on the item. - Click
Terms from the list located on the left of the window, and select the Construction Tab. - Click the Project tab.
- Click the Budget & Cost Breakdown hyperlink to open the Construction Budget / Cost Breakdown window.
- Click
to add new Project Budget Account. - Enter the following information:
|
Field |
Description |
|
Budget Account |
Enter the budget account number you want to use. Three digits ranging between 000 to 999. TIP: Click |
|
Budget Group |
Once a valid budget account number is entered, the parent group account number and description are displayed. These are a read-only fields. |
|
Budget Amount |
Enter this account budget amount. |
|
Holdback Amount |
Enter amount to hold back from the budget amount. The amount available for payment displayed by the system will be the Budget Amount less the Holdback Amount. |
|
% Completed |
Enter a number indicating the current percentage of completion. For example, if the budget line is for framing and is currently half done, enter 50% here. |
|
|
Select to hold all payments on this budget line item. TIP: Although you can enter and schedule vouchers for budget items on hold, the system will prevent you from paying a voucher with a distribution containing one of more items on hold. |
|
Chart of Accounts |
Quick shortcut to open the Budget Master Chart of Accounts maintenance window. |
|
Notes |
Click to enter Notes to a construction budget account. |
to open a lookup window that allows you to select an account from the Budget Master Chart of Account from the 
Hold- Click
OK to save and exit or Cancel to abort.
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