Setting Up Budget

Budget tracking allows you to stay on top of you finances and maximize project profitability.

How to Set Up Budget for Project

When you create or edit a project, under the Budget tab, select the Has budget checkbox. 

There are three budgeting methods:

  • Total project hours - the total number of hours to be spent on the entire project. Both billable and non-billable hours will count toward your budget. If you choose this method, specify the budget size in terms of hours. 
  • Total project fees - the total amount of money to be spent on the project. Billable hours are multiplied by the project's (persons') hourly rate. If you choose this method, specify the budget size in terms of monetary units.
  • Hours per person - the total number of hours for each member to spent on the project. Both billable and non-billable hours will count toward your budget. If you choose this method, specify a budget for each team member in the Budget column on the Team tab.  

project member budgets 

Budget Emails

When you create or edit a project, you can configure TMetric to sent email notifications when a project 's budget exceeds a certain threshold.  Under the Budget tab, select the Send email alerts if project exceeds checkbox and specify the threshold value for the budget.

E-mail notifications when budget is exceeded are sent to:

  • project manager
  • account owner

- if the project manager is not specified
- if the project manager is locked in the account

  • members of a project

- if they exceed a personal budget threshold in the project, the project manager receives this notification as well