✔️  Available on all subscriptions

What
Expenses are purchase records for spend related to a project. Think: tracking spend on good and services. 
Why
Keep a record of any monetary expenditures so you can better understand if you're staying on budget and on track for profitability. Add expenses to your invoices for a more granular breakdown of costs. 
Who
  • Site admins and project admins
  • Standard users with the project permission: 
    • Can access billing (allows users to view, create, and manage invoices)
      ⚠️ Turning this permission on automatically grants the user: view time log, view other people's time, and view hourly rates project permissions.
When
Create and expense when: 
  • Material goods related to the project were purchased and the cost should be accounted for. 
What
Expenses are purchase records for spend related to a project. Think: tracking spend on good and services. 
Why
Keep a record of any monetary expenditures so you can better understand if you're staying on budget and on track for profitability. Add expenses to your invoices for a more granular breakdown of costs. 
Who
  • Site admins and project admins
  • Standard users with the project permission: 
    • Can access billing (allows users to view, create, and manage invoices)
      ⚠️ Turning this permission on automatically grants the user: view time log, view other people's time, and view hourly rates project permissions.
When
Create and expense when: 
  • Material goods related to the project were purchased and the cost should be accounted for. 


Before you start

Expenses added to the Billing area of your project do not relate to budget expenses and work independently of project budgets.


Create an expense

Add an expense to your project to keep track of monetary costs that are unrelated to time logs. 

  1. Click Jump to in the Teamwork.com's left navigation menu.
  2. Search for and select a project. 
  3. Switch to the Finance tab from the project's navigation menu. The finance tab might be hidden under the More... section. 
  4. Select the Billing tab. 
  5. Click + Add Expense. 
  6. Enter an expense name, cost, date and a description. That last one's options, but highly recommended. 
  7. Click Add Expense. 
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The expense is added to the Unbilled Expenses section in the open invoices tab and you can add the expense to an open invoice. 

Best practices

  • Track accurately: If you’re spending money on goods, systems, or services to complete a project…add expenses. It’s the only way to get an accurate view into how much a project is actually costing (and you can use that information to make adjustments as needed).
  • Add as you go:  It can be easy to lose track of (or forget) expenses if you wait to add them until the end of a project. Add expenses as you go and that will help you monitor if you’re staying on budget as the project progresses as well.
1. Also available on legacy subscriptions: Pro, Premium, Enterprise.