Budgets

The Budget option in Workstatus helps you set, track, and manage project and employee budgets effectively.
This feature ensures better resource planning, cost control, and helps keep your projects profitable and on track.

Roles and Permissions:

Owner/Manager/Delivery Head: They can Add/View Budgets.
Team Lead (User): They can't Add/View Budgets.
Department Head (User): They can't Add/View Budgets.
Project Manager (User): They can't Add Budgets, but they can View Budgets if enabled from Project Settings.

Please refer following link for accessing Roles and Permission : https://support.workstatus.io/en/article/workstatus-roles-and-permissions-guide-zzkoo6/

Don’t worry, creating Budgets within Workstatus is simple. Read out section below to learn more about what Budgets can do for you:

How to View Budget screen?

Step 1: Select Financials then Budgets from the main navigation menu. We can see the headers as below:

Step 2: You will land on Budget listing page. Budget listing page contains details of Budgets, Filters, Search functionality, Add Budget button ( User as Project Manager won't be able to see Add Budget button ) and pagination feature.

Budget details

Here’s a breakdown of budget details in Workstatus:

Budget Name: A unique name to identify the budget.
Type of Budget: Defines whether the budget is Fixed Fee, Time & Materials or Retainer.
Client: The client associated with the specific project for which the budget is created.
Project: The project linked to this budget.
Status: Indicates whether the budget is "Delivered" or "In Progress."
Margin Percentage: The expected profit margin set for the budget.
Budgeted Time Usage: Tracks the estimated time vs. the actual time spent on the project.
Revenue: This represents the total income generated from the project associated with the budget. It helps track whether the project is meeting financial goals.
For mathematical calculation of Revenue, please refer: https://support.workstatus.io/en/article/how-revenue-is-calculated-in-budget-yg0f7p/

Search

The Search functionality on the Budget page lets you quickly find specific budgets by their name.

Filters:

Here’s a breakdown of Budget Filters:

Budget Type, Projects, Billable, Budget Status, Revenue, Margin, Exclude Expenses.

After applying Filters, it will look like

Updated on: 19/03/2025