--- title: Create and compare financial baselines for your projects description: Create and compare financial baselines to get a snapshot of the project expenses and compare the planned costs with the actual expenses. locale: en-US canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/project-workspace/create-compare-baselines-pws.html release: australia product: Project Workspace classification: project-workspace topic_type: task last_updated: "2026-03-12" reading_time_minutes: 1 breadcrumb: [Manage financials, Project Workspace, Project Portfolio Management, Strategic Portfolio Management] --- # Create and compare financial baselines for your projects Create and compare financial baselines to get a snapshot of the project expenses and compare the planned costs with the actual expenses. ## About this task This video is recorded using Strategic Planning view. Navigation for Project Workspace might differ but the functionality remains the same.\[Omitted video\] Description: Create and compare financial baselines ## Before you begin For more information regarding financial baselines and how the comparison works, see [financial baselines](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-workspace/using-financials-prj-wrkspc.md). Role required: it\_project\_manager ## Procedure 1. Navigate to **Workspaces** > **Project Workspace** and open a project. 2. Select **Financials** from the left menu. 3. Create or compare baselines.

Option	Description
Create a baseline	1. Select Create baseline button \(\[Omitted image "fin-create-baseline-button.png"\] Alt text: Create baseline button.\). Create financial baseline window appears with the Name field is auto-populated with current date. You can edit this field to name your baseline. \[Omitted image "fin-create-baseline-window.png"\] Alt text: Create financial baseline window with Name and Description fields. 2. In the Description field, enter a brief description to identify this baseline and select Save. A baseline is created capturing the planned costs and expense is captured. Note: You can [activate a scheduled job](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/scenario-planning-in-spw/baseline-scheduler-job.md) to automatically create financial baselines.
Compare baselines	1. Select the Baselines \(\[Omitted image "fin-baselines-tab.png"\] Alt text: Baselines tab.\) tab to view the list of existing baselines. 2. Select any two baselines and select the Compare baselines \(\[Omitted image "fin-compare-baselines-button.png"\] Alt text: Compare baselines button.\) button. Comparison view of the selected baselines is displayed. For more details, see [Using baseline comparison view](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/scenario-planning-in-spw/using-financials-spw.md).

Option

Description

**Create a baseline**

1. Select **Create baseline** button \(\[Omitted image "fin-create-baseline-button.png"\] Alt text: Create baseline button.\). Create financial baseline window appears with the Name field is auto-populated with current date. You can edit this field to name your baseline. \[Omitted image "fin-create-baseline-window.png"\] Alt text: Create financial baseline window with Name and Description fields. 2. In the Description field, enter a brief description to identify this baseline and select **Save**. A baseline is created capturing the planned costs and expense is captured. **Note:** You can [activate a scheduled job](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/scenario-planning-in-spw/baseline-scheduler-job.md) to automatically create financial baselines.

**Compare baselines**

1. Select the **Baselines** \(\[Omitted image "fin-baselines-tab.png"\] Alt text: Baselines tab.\) tab to view the list of existing baselines. 2. Select any two baselines and select the **Compare baselines** \(\[Omitted image "fin-compare-baselines-button.png"\] Alt text: Compare baselines button.\) button. Comparison view of the selected baselines is displayed. For more details, see [Using baseline comparison view](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/scenario-planning-in-spw/using-financials-spw.md).

**Tip:** You can migrate existing financials baselines of your projects or demands from Classic UI to Financials in Next Experience. For more information on how to migrate financial baselines of demands, see [Migrate financial baselines of demands to Next Experience](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/demand-management/migrate-fin-baselines-demands.md). For more information on how to migrate financial baselines of projects, see [Migrate financial baselines of projects to Next Experience](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/migrate-fin-baselines-projects.md). **Parent Topic:**[Managing financials for your projects](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-workspace/using-financials-prj-wrkspc.md)