To enable billability:<\/p>\n\n\n\n
- \n
- Open Workspace settings<\/strong><\/li>\n\n\n\n
- Go to Billable hours<\/strong> section in Permissions<\/strong> tab<\/li>\n\n\n\n
- Turn on Activate billable hours<\/strong> <\/li>\n<\/ol>\n\n\n\n
<\/figure>\n\n\n\n
This way, all the entries created on that workspace will be marked as billable, allowing you to set a budget and effectively monitor expenses.<\/p>\n\n\n\n
You can customize billability settings for specific projects as needed.<\/p>\n\n\n\n
To enable project billability<\/a>:<\/p>\n\n\n\n
- \n
- Open the Projects<\/strong> page in the sidebar<\/li>\n\n\n\n
- Choose the project you wish to configure<\/li>\n\n\n\n
- Navigate to the Settings<\/strong> tab <\/li>\n\n\n\n
- In the Billable<\/strong> by default<\/strong> section, toggle the switch to enable billability<\/li>\n<\/ol>\n\n\n\n
<\/figure>\n\n\n\n
With this setting, all tasks created for that project will automatically be billable.<\/p>\n\n\n\n
Now, you can proceed and set up a project budget. <\/p>\n\n\n\n
To set up project budget: <\/p>\n\n\n\n
- \n
- Navigate to the Projects<\/strong> page<\/li>\n\n\n\n
- Select the desired project from the list<\/li>\n\n\n\n
- Click on the Settings<\/strong> tab<\/li>\n\n\n\n
- In the Project estimate<\/strong> section, select Project budget<\/strong> from the dropdown menu<\/li>\n<\/ol>\n\n\n\n
<\/figure>\n\n\n\n
If you are manually tracking the budget, don\u2019t forget to set the applicable rate.<\/p>\n\n\n\n
Budget estimation details<\/h2>\n\n\n\n
- \n
- The budget forecasting chart is made out of the values on the X and Y axes, with the intersection representing the data points<\/li>\n\n\n\n
- All numerical values follow your Workspace settings<\/strong> for formatting<\/li>\n\n\n\n
- Values are displayed with two decimal places, and the currency is determined by your Workspace settings or a specific client<\/li>\n<\/ul>\n\n\n\n
Y axis<\/strong>:<\/p>\n\n\n\n
- \n
- Represents monetary values (amount of money)<\/li>\n\n\n\n
- The minimal value is where the two axes first intersect, while the maximal value is the highest point on the chart within the selected date range<\/li>\n\n\n\n
- Only numbers are shown, excluding currency symbols<\/li>\n<\/ul>\n\n\n\n
X axis<\/strong>:<\/p>\n\n\n\n
- \n
- Displays dates, with the time range adjustable at the top right corner of the page<\/li>\n\n\n\n
- Horizontal line above the Y axis represents the project’s budget. This status line adjusts if the project’s budget changes, including weekly, monthly, or annual resets.<\/li>\n<\/ul>\n\n\n\n
When the project’s budget is exceeded, the forecasted line will continue beyond the estimated budget line, reflecting continued expenses.<\/p>\n\n\n\n
For example: If the budget for the initial months of the year was $5,000 and $150 was spent, the budget line will be positioned on the chart according to its value relative to the Y axis. <\/em><\/p>\n\n\n\n
Check out Forecasting project budget chart<\/a> for more details.<\/p>\n\n\n\n
\nRelated articles<\/h3>\n\n\n\n
- \n
- Forecast project completion<\/a><\/li>\n\n\n\n
- Forecast chart<\/a><\/li>\n\n\n\n
- Track budget & estimates<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"In addition to tracking time spent on projects and tasks, Clockify allows you to…","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_helpful_status":1,"_searchwp_excluded":"","footnotes":""},"categories":[65],"tags":[],"class_list":["post-20115","post","type-post","status-publish","format-standard","hentry","category-project-forecasting"],"acf":[],"featured_image_src":null,"author_info":{"display_name":"tamara radijevac","author_link":"https:\/\/clockify.me\/help\/author\/tamara-radijevac"},"_links":{"self":[{"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/posts\/20115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/comments?post=20115"}],"version-history":[{"count":29,"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/posts\/20115\/revisions"}],"predecessor-version":[{"id":27461,"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/posts\/20115\/revisions\/27461"}],"wp:attachment":[{"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/media?parent=20115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/categories?post=20115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clockify.me\/help\/wp-json\/wp\/v2\/tags?post=20115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- Forecast chart<\/a><\/li>\n\n\n\n
- Forecast project completion<\/a><\/li>\n\n\n\n
- Values are displayed with two decimal places, and the currency is determined by your Workspace settings or a specific client<\/li>\n<\/ul>\n\n\n\n
- Go to Billable hours<\/strong> section in Permissions<\/strong> tab<\/li>\n\n\n\n