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Project budget setup

In case you are project captain (owner) or Admin, you can setup financial budget and time capacity for particular project.

Budgets keeps you on track. You have immediate overview if there is enough money left or it has been overdrawn.

Who can see the budget?

Financial budget and time capacity of the project can access only it’s owner or admin. Invited users see their own reports only.

Project currency

When creating a new project, it is important to select correct currency, because it cannot be changed later. Freelo operates with following currencies:

  • Czech crown (CZK)
  • Euro (EUR)
  • US dollar (USD)

All financial reports over the tasks have the same currency within one project.

Select the correct currency for your project.
Select the correct currency for your project.
TIP:

Currency in the running project can no longer be changed. Always think ahead when creating a project in which currency you want to report.

How to set up budget

Go to project detail and via setting icon on the right click Set project Budget.

How to set project budget.
How to set project budget.

In following form enter financial budget and/or time capacity in hours. Confirm via Save Budget Settings.

Enter financial budget and time capacity for a project.
Enter financial budget and time capacity for a project.

Budget is visible at the top right corner when you are in project detail. It can see only project captain (owner) and Admin of the project.

Project with financial budget 350 € and time capacity 10 hours.
Project with financial budget 350 € and time capacity 10 hours.

Each report over a task is deducted from budget. Total amount is visible in green color as long as it is still within the budget. When you overdraw either of them it turns red.

Example of deducted reports from project budget.
Example of deducted reports from project budget.
Example of exceeded financial budget.
Example of exceeded financial budget.

Divide exact financial budget for To-Do list and have even better overview.

Repeated budget

When setting project budget you can add regular repeating. It means that the financial budget and time capacity clears at the certain time. For example every first day each month or quarterly.

When you already have a budget click Budget setting / repeating. Check box Repeated budget and appears another setting.

How to set repeated project budget.
How to set repeated project budget.

When you are adding first project budget, just click checkbox Repeated budget. Confirm the setting via Save Budget Settings.

Example of repeated project budget every first day each month.
Example of repeated project budget every first day each month.
Examples:

  • Every month you work for the client 10 hours.
  • With a client you have a fixed hourly rate and you want to check that you do not work more than you agreed on.
  • Sometimes you can find out you have some time left and can do something extra.

How to reset budget

Anytime you can manually reset the budget. Go to project detail and click the already set budget. Then click orange button Reset budget manually.

How to reset project budget manually.
How to reset project budget manually.

In following window confirm via Reset.

Budget history

Thanks to budget repeating it is regularly cleared. Time and costs are zero. Each period counts its own reports.

In Budget History you can see balance for particular period. Via small arrow you can see detailed reports from the time period.

One time period within the project budget.
One time period within the project budget.
Example of project with long budget history.
Example of project with long budget history.
Updated on 21.5.2021

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