You create a budget after a sales deal is won.

A deal is a term we use for a pitch that can turn into a project but it's still in the sales phase. Here you can add all the services you'll sell to your client along with estimates for your internal purposes. Click here to learn about adding services to deals.

You can also add a new budget directly to an existing project while you're on the Project page. 

Go to Budgets tab and click the + button.

Give a name to your new budget and hit the Create budget button.

Services

If you're creating a budget manually (not from a deal that was won), first thing you'll need to do is to add Services.

Services define what type of work you do for a client. Also, people working on a project track time against them. You can add Hourly priced or Fixed price services.

Another type of financials you can add to a budget are Expenses. Use this option if you're focused on selling or reselling services or products (usually for a fee) rather than on time tracking.

Time warning

Keeping an eye on the time spent on a budget is very useful information. You could burn 70% of the hours estimated for the budget and not know about it. And maybe you're going to need more hours to finish the work than you thought in the first place.

Turn on Time warning for a budget if you want to get notified when it's close to being completely burned.

Put down a threshold after which you want to be notified about. You'll get an e-mail when billable hours reach the percentage of estimated hours you set up.

You can also change the budget's currency or the date for which time period the revenue and costs are reported in.

Make sure you keep all the financial information in the budget accurate (services, discounts, expenses) otherwise your profit and revenue figures won't show the real balance.

Did this answer your question?