✔  Available on Grow and Scale subscriptions 1

What
Create budget expenses to account for additional one-off project costs (e.g. costs not related to hours worked).
Why
  • Account for individual fixed costs (not related to your team's team's billable rates).
  • Add expenses to be able to accurately track project profitability.
Who
  • Site admins and project admins
  • Standard users and client users with the project permission (on at least one project):
    • Manage project budget (allows users to access the Budgets area, view & manage project budgets, and view & manage budget expenses)
When
Any time you have an additional cost associated with the project, such as travel or software procurement.
What
Create budget expenses to account for additional one-off project costs (e.g. costs not related to hours worked).
Why
  • Account for individual fixed costs (not related to your team's billable rates).
  • Add expenses to be able to accurately track project profitability.
Who
  • Site admins and project admins
  • Standard users and client users with the project permission (on at least one project):
    • Manage project budget (allows users to access the Budgets area, view & manage project budgets, and view & manage budget expenses)
When
Any time you have an additional cost associated with the project, such as travel or software procurement.

Before you start

  • A project budget must exist before you can create budget expenses.
    • Budget expenses are associated with the budget that is currently active when the expense is created.
  • Budget expenses count towards the total usage of fixed fee (financial) budgets. Example: You have a $1,000 budget. $500 has been used via hours worked + a $100 budget expense added = $600 of the project's total budget used.
    • Budgets based on total hours (time budgets) do not take budget expenses into account.

Create a budget expense


  1. Click Jump to in Teamwork.com's main navigation menu.
  2. Search for and select a project.

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  3. Switch to the Finance section from the project's navigation bar. The Finance tab might be hidden under the More... option.
  4. Select the Budgets tab.

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  5. Scroll down to the Expenses tab.
  6. Click + Add expense.
  7. Enter a Budget period, Date, Assignee, Total cost, Markup amount (if billable), Total billable, Category, Title, Description, and add a file.
  8. Click Add expense.
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.

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The expenses tab shows all budget expenses created on a project over its lifetime (in the order they were created). A running Total of the budget's expenses is listed at the bottom.

💡 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 custom categories. Any custom categories will be at the top of the categories drop down menu for your convenience. 

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Edit a budget expense

Edit a budget expense from the project's Finance > Budgets section.

📝 A budget expense can be edited by its creator, a project admin, or a site admin.
 
  1. Click Jump to in Teamwork.com's main navigation menu.
  2. Search for and select a project.
  3. Switch to the Finance section from the project's navigation bar. The Finance tab might be hidden under the More... option.
  4. Select the Budgets tab.
  5. Scroll to the Expenses tab.
  6. Edit the expense's details by clicking on the fields to easily edit inline, or click the 3 dots on right right-hand side.

Delete a budget expense

No longer need an expense you created? You can delete the budget expense from the project's Finance > Budgets section.

📝 A budget expense can be deleted by its creator, a project admin, or a site admin.
 
  1. Click Jump to in Teamwork.com's main navigation menu.
  2. Search for and select a project.
  3. Switch to the Finance section from the project's navigation bar. The Finance tab might be hidden under the More... option.
  4. Select the Budgets tab.
  5. Scroll to the Expenses tab.
  6. Hover over the expense you want to delete, then click the trash can on the right.
  7. Click OK in the confirmation window.

Best practices

  • Add timely expenses: Budget expenses are added to the currently active budget. At the start of a budget, add in any already incurred expenses and then continue adding additional ones during the budget's lifetime.
  • Consistent naming conventions: Use consistent descriptions when adding expenses to make it easier to understand what's been purchased. Ex: [Software] Teamwork.com, [Meals] Customer experience.

1. Also available on legacy subscriptions: Premium, Enterprise.