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 are shared between Budgets and Expenses tabs for more seamless expense tracking. Expense data syncs across the entire Finance tab, removing the need of double expense entry and a holistic view of your finances. 


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 Budgets tab, scroll down and click on the Expenses tab. Click + Add Expense. 
  5. Or select the Expenses tab, and click + Add Expense.
  6. Enter a Budget period, Date, Assignee, Total cost, Markup amount (if billable), Total billable, Title, Category, Description, and add a file.
  7. Click Add Expense. 
The expense is added to the Unbilled Expenses section in an invoice where you can add the expense to an open invoice.
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Use the AI Autofill to automatically populate fields on the expense! Simply click Try AI Autofill, upload your image, and Teamwork.com will do the rest. Do note: 
  • Budget period and Markup must be adjusted manually.
  • Only one file can be used per AI Autofill.
  • File types of JPEG, PNG, and WEBP are supported.
  • Always double check the data before confirming and adding the expense.
💡 Helpful tip 💡 When assigning a Category, click ⚙️ Manage categories at the bottom of the drop down menu. Here you will see all the default categories, but more importantly you can add and manage custom categories. Any custom categories will be at the top of the categories drop down menu for your convenience. 

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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.