Finance
Budgets
A budget is the financial plan for a piece of work. ShootHive keeps budgets at two scopes — project and shoot — so you can plan a whole engagement and each day within it.
Project and shoot scope
A shoot budget plans one production day. A project budget plans the whole engagement. They work together: a project's totals roll up its own budget plus every shoot budget inside it.
Income lives only on the project budget; shoot budgets are for expenses. So a shoot shows what it costs, and the project shows what it costs and what it earns.
Line items and rate profiles
A budget is built from line items — one row per cost or income. Each line has an amount and can be tagged with a cost category, so totals group the way an accountant expects.
Instead of typing the same crew rate every time, apply a rate profile to a line. The profile fills the number in, and changing it later updates from one place.
Approving and locking
A budget moves through statuses — draft, approved, locked. Approving signals the numbers are agreed; locking freezes them so they can't drift after sign-off.
A locked budget's plan can't be edited any more — only actuals and payments are recorded against it. To change the plan, the budget is reopened.
Key terms
- Budget
- A financial plan at project or shoot scope.
- Budget scope
- Whether a budget covers a whole project or a single shoot.
- Line item
- One cost or income row in a budget.
- Rate profile
- A reusable, named rate applied to a budget line so you don't retype it.
- Locked
- A budget frozen after approval; only actuals are recorded against it.
Common questions
Where is revenue recorded — project or shoot?
Income lives on the project budget. Shoot budgets track expenses; the project's totals combine both.
What does locking a budget do?
It freezes the plan after sign-off. Only actuals and payments are recorded against a locked budget; reopen it to change the plan.
How do rate profiles help?
A rate profile is a reusable rate. Apply it to a line instead of typing the amount, and update it in one place later.