Budget Overview

The Budget option in Workstatus helps you set, track, and manage project and employee budgets effectively. Adding budget to a project improves quality, speeds up delivery, reduces risks, supports innovation, and increases stakeholder satisfaction — leading to a more efficient and successful outcome.

Roles and Permissions:

• Owner/Manager/Delivery Head: They can View Budgets.
• Team Lead (User): They can't View Budgets.
• Department Head (User): They can't View Budgets.
• Project Manager (User): 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/

Read out the steps below to learn more about what Budget Overview can do for you:

• Step 1: Select Financials then Budgets from the main navigation menu.

• Step 2: Click on the budget name you want to overview, you will redirect to Budget Overview screen.
• Step 3: Here, explaining all the details of the Budget Overview page:

*On top of the page, you will see Budget name and the project name under which this budget is created.

*Also, you will a dropdown containing all the budgets under that project. You can directly switch between different budgets from here.

Month dropdown: Use this dropdown to switch between 'Month' and 'Week' views. The forecast graph will update automatically based on your selection, giving you a clearer picture of budgets over time.

Calendar: Select a custom date range from the calendar to update all details on the page. The data, including forecasts, budgets, and timesheets, will adjust automatically to match the chosen period.

Forecast chart: Enable or disable the forecast chart using the checkbox. This chart displays Billable Time, Budget Total, and Budget Used with candlestick-style graphs, helping you quickly compare planned vs. actual performance.

When you hover over any point, a tooltip will show the date range, amount, and time, giving you precise details at a glance.

Time widget:

The time widget provides a detailed overview of how project hours are managed. It shows the selected date range and breaks down time usage into three key metrics:

*Budgeted Time – The total number of hours allocated for the budget. This represents the planned effort within which work should be completed.

*Billable Time – The actual hours tracked under that budget. This helps ensure transparency in project costs.

*Remaining Time – The unused portion of the budgeted time. It reflects how much time is still available before exceeding the planned allocation.

*Remaining Time percentage = 100 - (( Billable time / Budgeted time ) * 100 )

Along with the percentages, the widget also provides a color-coded graph: green shows that usage is within the budgeted limits, while red highlights overspending of time. This makes it easier to track progress and act before overruns occur.

Budget widget:

The budget widget gives a complete picture of your project’s financial performance. It displays the selected date range and breaks down the budget into the following key metrics:

*Budgeted Total – The overall project budget, calculated based on the allocated budgeted time and the agreed billable rate.

*Budget Used – The portion of the budget that has already been consumed, reflecting the actual amount incurred so far.

*Budget Remaining – The unutilized portion of the budget, showing how much financial capacity is still available before crossing the limit.

*Budget Remaining percentage = ( Budgeted total - Budget used ) / Budgeted total * 100

Percentages are provided for quick reference, and a color-coded graph offers an at-a-glance view: green indicates spending is within the planned budget, while red highlights that the budget has been exceeded. This makes it easy to monitor project finances and take timely action if spending goes off track.

Invoicing:

The invoicing section helps you track how much of the project budget has been billed and what still remains to be invoiced. It provides the following details:

*Total – Displays the Budget Used amount, showing the overall value of time and expenses consumed from the allocated budget.

*Invoiced – Represents the portion of the budget that has already been billed to the client. This includes both timesheets and expenses that have been invoiced.

*For Invoicing – Indicates the remaining portion of the budget that is yet to be invoiced, helping you clearly identify pending billables.

*Invoiced percentage = ( Invoiced / Total ) * 100

*Remaining percentage = 100 - Invoiced percentage

Percentages are shown for each, making it easier to understand how much has been billed versus what still needs to be invoiced. This ensures transparency in client billing and helps prevent revenue leakage. Additionally, the section includes an Add Invoice button, allowing you to quickly create and add invoices directly from this page without navigating elsewhere.

Profit:

The profit widget gives you a financial overview of your project’s profitability within the selected date range. It includes the following details:

*Total Revenue – Calculated based on the project’s Budgeted Total Amount, representing the expected earnings from the allocated budget.

*Cost – The total cost incurred for the project, including resource costs and other associated expenses.

*Profit – The difference between the total revenue and the actual cost, reflecting how much profit the project has generated.

*Profit Percentage = ( Revenue ( Revenue – Cost )) ​× 100

Each metric is also shown with its percentage for quick comparison. A color-coded graph offers instant insights: green indicates profitability within the planned range, while red highlights reduced margins or losses.

Timesheet

The timesheet provides a detailed view of all the hours logged by users for the project under which the budget is created. It helps you track work, costs, and billing status at the task level. The timesheet includes the following columns:

*Task Details – Shows the specific task or activity against which time has been logged.

*Date – The date on which the timesheet is logged.

*Hours Logged By – Displays the user’s name along with their profile image to quickly identify who logged the time.

*Time Period – Captures the exact start and end timestamps for the logged work, ensuring complete transparency of working hours.

*Hours Logged – Indicates the total number of hours recorded for the given entry.

*Bill Rate – The billing rate applied to the logged hours, as defined when the budget was created.

*Amount – The monetary value of the logged time, calculated as: Amount = Bill Rate * logged hours.

*Invoiced – Marks whether the logged time has already been invoiced to the client.

*Billable – Indicates whether the logged hours are considered billable under the budget.

*Status of Timesheet – Displays the current approval state of the timesheet entry (e.g., Pending, Approved, or Rejected).

Expenses

The expenses section lists all the costs recorded by users for the project under which the budget is created. It helps you track, categorize, and manage project-related spending. The table includes the following columns:

*Category – The type of expense incurred. Categorization helps in organizing and analyzing expenses.

*Task – The task or activity associated with the expense, linking costs directly to specific project work.

*Date – The date on which the expense was recorded or incurred.

*Reason – A short description or justification provided by the user explaining why the expense was made.

*Member – The team member who submitted or is associated with the expense entry. This typically shows the user’s name and their profile image.

*Amount – The monetary value of the expense. This represents the cost incurred for that particular entry.

*Invoiced – Indicates whether the expense has already been billed to the client. This helps in identifying pending expenses that still need to be invoiced.

Filters:

Here’s a breakdown of Budget Filters: Search by, Timesheet and Expense.

*Search By – Contains the listing of members of that project along with search & multi-select functionality.

*Timesheet – Contains Timesheet Status, Billable Time and Invoiced Timesheet.

*Expense – Contains types of expenses user want to include.

Updated on: 18/09/2025