The first step in the process of financial management setup is to create a new budget. Users can create either budget template or a browser budget. From there you will convert that budget to a template, or leave it as a free-standing “Browser Budget”. See Budget Types to learn more about each type.
Note: It is not recommended to associate a calendar with a Browser Budget as any associated calendar modifications will not update in the browser budget. The user would then need to remove the calendar and re-associate it to see the calendar changes in the budget.
If a budget template type is created, that budget should then be associated with a calendar, and any necessary modifications and adjustments should be made to the costs. From there, milestones (payment triggers) need to be configured to define what should be paid, to whom, and how that payment milestone is achieved.
· See Budgets, for more information about budget configuration and types
· See Milestones, for more information about milestone configuration and types
Before getting started however, it is important to understand that both budgets and milestones build upon the information established in the foundational elements created in other modules of Velos eResearch, such as calendars, studies and patient management.
Of all of these elements, calendars are the driving force behind Financial Management, in that they are the source of most cost information for budgets, they define patient schedules used to generate Visit and Event milestones, and more generally are required to generate a meaningful budget. Therefore Financial Management cannot function properly without all of these elements being in place first.
Warning: At a minimum, ensure that study calendars and studies are configured prior to setting up budgets and milestones.
To learn more about these foundational elements, refer to the following sections of the user guide:
