The “Project Budget Method” is an optional information about the forecasted project price or forecasted time spent on this project. You can set it on the “Create/Update Project” page by marking the checkbox “Add a Budget to this Project”.
There are 4 budget methods available in MoneyPenny:
1. Hours per Staff – you can add info on how much time (hours) your staff members are planning to spend on this project:
2. Hours per Task – you can add info about how much time (hours) is needed for each task:
3. Total Project Hours – a method used to add info on how much time (hours) is needed to finish this project:
4. Total Project Cost – how much this project should cost the client & Expense Budget (the maximum Budget for expenses)
If you choose “Hours per staff”, “Hours per task” or “Total project hours”, then on the projects list you will see the progress bar with the total hours spent and the budgeted amount:
If you choose “Total project cost”, you will see the progress bar with the amount of invoices sent to the client (based on this project) and the budgeted amount: