Use project budgets to forecast and keep track of the financial outlook of your projects. Scoro compares budgeted data with real time results, so you'll always have a clear overview of how well you're staying within the budget.
Note! Budgets is a paid add-on. To add it to your site, go to Settings > Administration > Plan, Add-Ons & Billing.
When creating a new project, you can choose if and what kind of budget to use. Fill in all project-related data and just tick the Compare with quote or budget checkbox.
You have three options, when creating a project budget:
1. Compare actual results with amounts on quote. This means all actual income and cost is compared to the quoted amounts and cost.
2. Use a simple budget. Fill in the estimated amounts for invoices, bills and labor cost that are then compared to the actual income and cost.
3. Create an detailed budget or several under Budgets and link them to the relevant project in the project modify view.
There are two autosuggest fields that you can use to link the relevant budgets to this project. The Income field shows only the budgets based on sales documents, the Cost field shows the budgets based on purchase documents.
Note! Make sure you add a deadline to your project, this is needed to link a budget to the project.
When adding a new budget, fill in all relevant data like a title, input (what the actual results are compared to, e.g. invoices), period, etc. Pick Projects as the budget type (click Break down by) and select the relevant project from the autosuggest field. Or link the budget to the relevant project from the Actual results project filter. Read more on creating a budget.
The project summary table gives a quick overview of the project's financial outlook. Here, both estimated income and cost are taken into account when comparing the project-related budgets to actual results.
If you are using labor cost, the table will show both labor cost and bills under cost, otherwise cost is calculated based on bills.
You can get to the relevant budgets by clicking on either Invoices (to the income budget) or Bills (to the cost budget).
The Difference numbers are displayed in green if they are positive – you are earning more than spending. If you are losing money, the numbers are displayed in red.
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