Within Teamwork, you can use the dedicated Budgets area to view and manage budgets and other financial aspects of your project.
Note: The Finance area is available on per-user Grow/Premium subscriptions and above.
Go to the Finance tab of a project and select the Budgets subsection.
The Budgets area is divided into subsections allowing you to manage different components of your project's finances.
- Project budget - set a time
budget or financial
budget for the project.
profitability - track the
project's overall profitability.
- Budget expenses -
budget for once-off and other fixed costs
relating to your project.
You can view your current project budget, timeline and usage on the left side of the Budgets area.
Note: If an existing budget's start date is in the future, it will not be displayed until that date has arrived.
Hovering over the budget timeline will display details of how much of your budget has been used by a certain date and a total billable cost. Depending on your project permissions, you can also manage the budget directly from this view.
The project profitability section allows you to track the overall cost, billable total, and profit for the project. This calculated based on the billable total minus the total cost for the current date range.
You can use the profit toggle to display the profit column as a currency amount or percentage of cost that the profit represents.
Accounts on Scale subscriptions will have an additional option to View profitability report which will bring you directly to the site-level profitability report.
The budget expenses section allows you to add expenses to a project's budget to account for any additional individual costs that maybe required beyond logged time.
Expenses added to a financial budget will be taken into account when calculating the project's budget usage however, they will not be reflected in time budgets.
Note: Expenses added to the Billing area of your project do not relate to budget expenses and work independently of project budgets.
For more information, see: Managing Project Budgets