Budget: Project Costs per Day/Month
The Budget table shows project costs for the previous day and the selected month to allow financial managers to properly plan investments and profit projections.
The formula for calculating each value depends on the type of project: Internal Project (the company pays for work) or Commercial Project (the client pays for billable hours).
Setting up
To ensure the data appears in the Budget table, follow these steps:
- Connect the task tracker to the project. This is necessary for Enji to receive worklog information. Instructions for connecting task trackers
- Set up employee rates. This is necessary for Enji to know the cost per hour of the employee's work.
Instructions for setting up rates in Internal Projects
Instructions for setting up rates in Commercial Projects
Budget formula for internal projects
| Yesterday | Current month | |
|---|---|---|
| Actuals | The cost of the team’s work on this project for the previous day. Net Cost ¹ / Logged_Time_all (all projects for yesterday) × Logged_time_project (this project for yesterday) | The cost of the team’s work on this project for the current month. Net Cost / Logged_Time_all (all projects for the month) × Logged_time_project (this project for the month) |
| Time worked | The amount of time the team spent yesterday on this project. | The total time the team spent on this project for the current month. |
¹ This formula will not work for employees without a Net Cost value set. The last available Net Cost is used for calculations. If an employee has a Net Cost set for May and then a new Net Cost is added for July, the Net Cost for July will be used in the formula.
Budget Formula for commercial projects
| RATE TYPE | FORMULA |
|---|---|
| Only Hourly Rate specified | Hourly Rate × Logged_Time Epic(Task) |
| Only Monthly Rate specified | (Monthly Rate / Total Logged_Time across all Epics (Tasks) in the project) × Logged_Time of a specific Epic (Task) |
| Both Hourly Rate and Monthly Rate specified | Hourly Rate × Logged_Time Epic (Task) + (Monthly Rate / Total Logged_Time across all Epics (Tasks) in the project) × Logged_Time of a specific Epic (Task) |
| Billed To Customer | Not considered |
Net Cost and Billed To Customer are not considered in commercial project calculations. If the employee's rate in the project changes, the most recent entry will be used for calculations.