The project budgets feature lets you plan, set, and keep track of all of your project hours and costs directly within your account. There are three budget types available:
Set the overall time to be spent on a project (e.g., 600 hours). When new tasks are scheduled, the number of hours remaining in the project budget is reduced accordingly.
In addition to the budget display on the project card and within the popup menus, the Project Summary tab within Reports provides an overview of your projects and their budgets as they are being worked on.
Set the overall cost of a project (e.g., $20,000) and your team's hourly rate. The hourly rate can be different for each person or the same for the whole team.
When new tasks are scheduled, their cost is subtracted from the project budget.
Set your team's hourly rates and track the costs of each task they are assigned.
As with the total fee budget, rates can be customized for each person or set the same across the board.
Tips and Tricks:
- Default hourly rates for individuals can be set within their profile cards on the People page.
- Project specific hourly rates can be set from the Team tab within the project card. Updating a person's default rate will not change their existing project specific rate.
- Tasks can be set as Billable or Non-billable from the Tasks tab within the project card. Non-billable tasks added to Billable projects will not count towards your project budget.
- The budget summary displays red when a project is over budget.
- Dragging a task to extend it will display a notification at the top of the Schedule when the project is over budget.
- The default currency can be changed from within Account Settings.
- All Admins can see project budget rates. Project Managers can be granted this access on an individual basis by checking the permissions box within their profile.