Setting a budget can be a great way to track a project’s progress. You’ll be able to see how much of your budget has been used and how much remains. This information reveals whether your project is progressing as expected, can warn you about potential problems, and helps you give better quotes in the future.
Setting a project budget
An admin can add a budget by going to the 'Projects' page and clicking the 'No budget' label (or select multiple projects and apply settings in bulk) and directly inside some integrations by means of our browser extension.
- A budget can be set in a form of hours or fees (only billable projects).
- Budget settings allow you to prohibit reporting time for anyone (including admins) if the budget is exceeded. There will be a warning when trying to log hours and all running timers will be automatically stopped reaching the threshold.
- Decide to include or exclude expenses from budget calculations (fee-based budgets).
- You can enable an option to automatically reset a project’s budget every Day, Week, or Month (recurrent budget). This option is available for hourly and fee-based budgets.
- Decide is regular members can view a project’s budget, which is open to admins only by default.
You can choose if you want to send notifications on a certain % of a budget reached, and also select the team admins who you'd like to get notified on that.
Setting a client budget
The budget can also be set at the client level when for example it's more convenient to have one budget for several projects at once.
Analyzing budget progress
You can see all projects that have budgets, what was spent, and what remains on the 'Projects Budget' dashboard (you need to be an admin).
If you want to check the history of the budget usage, click on a project name to open its summary. The same summary page is available for a client.
Lastly, you can build a custom report to see the project budget and progress on it.