Within Teamwork, you can set a time-based budget for your project.

Note: Project budgets are available on per-user Premium/Grow subscription plans and above.

Project budgets will only be accessible when the Time and Finance features are enabled for a project.

  • Site administrators and project administrators can access the Budgets subsection of the Finance tab.
    • They can view and manage existing budgets as well as create new ones.
  • Standard users and client users with permission to view project budget have view-only access the Budgets subsection of the Finance tab.
    • Granting the additional permission to manage project budget allows them to manage existing budgets and create new ones.
  • Collaborators cannot view, create, or manage project budgets.

Creating a time budget via the Finance area


Go to the Finance tab of your project and select the Budgets subsection.

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Under the Project Budget section, click the Add project budget option.

Note: Each project can only have one active project budget at a time.

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If an existing budget is set, click the three dots in the top right and select Add New Budget from the dropdown.

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A pop-up modal will open where you can set the budget information. Select Total hours from the budget type dropdown.

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Using the Hours and Minutes fields, you can manually set the time-based target for the budget.

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Start and end dates

Below the budget type field, you can click Add start and end dates to apply your budget to a custom period.

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Note: Budgets cannot overlap. Therefore, when setting a new budget, its start/end dates cannot coincide with the dates of an existing budget. 



Repeating budgets

To set the budget to repeat, select the checkbox to the left of the repeats option and choose a timeframe from the associated dropdown. Budgets can be set to repeat every week, month, or custom period (every x days, weeks, or months).

Note: A budget start date is required when setting a budget to repeat.

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Note: It is not possible to edit a repeat budget once set. To make changes to a repeat budget, the budget must be deleted and then recreated. 


Usage

Budget usage can be set as based either on:

  • Billable time - time logged that can be charged out to clients.
  • Non-billable time - time logged that cannot be billed or expensed to clients.
  • All time - all time logged (billable and non-billable)


Notifications

The budget notifications option allows you to send alerts to specific project members in the lead up to the project budget being reached. For each notification you set, you can choose:

  • Recipient(s) - select one or multiple project members to receive the notification.
    • Clicking the current assignee field will open a modal where you can pick individuals, teams, or companies.
  • Notification type - email, or mobile push notification.
  • Budget usage % - once the budget exceeds this % of total budget, the notification will be sent.

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Once you have filled out the relevant details for your budget, click Create Budget to apply it to your project.

The budget details will be displayed in the Project Budget section of your Budgets tab.

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Creating a budget via the project dashboard


You can also set a budget via the Summary tab of the project's Dashboard area.

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Near the bottom of the Summary tab, you will see a Project Budget section. If there is no existing budget for the project, click the Add a budget option.

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If there is an existing budget, click the three dots at the top of the Project Budget panel and select Add New Budget from the dropdown.

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For more information, see: Managing Project Budgets