Who can use this capability
Resourcing Administrators and Portfolio Reporters can create Budget Reports.
About budget reports
Budget reports show how much time or money has been incurred on a project and how much remains.
Budget reports pull data for the project (not just time entries within the time frame) and give you a complete overview of the project status. You can view a budget report in hours, days, or amounts.
Budget reports set to amounts include time & fees and expenses. Reports only include budget information when a project has a budget for a specific item. For example, when a project has a budget for hours, this information will be included in a budget report for hours.
Budget reports include five columns:
- Project: Name of the selected groupings. Click the group name to see individual time entries or expenses.
- Incurred: Actual amount of time already worked or money expensed for the project. Expenses with a future date will still appear in the Incurred column because the money for the expense has already been set aside.
- Future Scheduled: The amount of time or money scheduled in the future.
- Budget: Project budget. It is a fixed amount predetermined in project settings.
- Remaining: The amount of time or money still available for the project.
Understanding budget reports
Budget reports include time entries for projects outside the time frame of the report. Budget reports always show the total budgets for projects that have any data within the time range you have selected. This means that even hours or amounts outside that date range will be included.
For example, if your time frame is January, but the project started in December and runs through March, your budget report includes data for the entire lifecycle of the project.
This is intentional, as budget reports are designed to give you a holistic, high-level overview of how your projects are tracking against their entire time/fee budget. Otherwise, your project might appear to be on track because you’re not counting hours for that time frame.
- Your project has a budget of $100K.
- You already spent $50K in time so you have $50K left to use. Resource Management always shows all time spent for the duration selected.
- If you change the date range to only include $25K worth of time, it would show $75K remaining even though the math would be incorrect.
If you only want to see hours for a selected time frame, switch to a time & fees report.