Time Tracking Costs

The Costs tab connects time tracking to financial reality. Transform logged hours into cost calculations using team member rates, track project budgets against actual effort, and understand the financial implications of time spent.

Note: This is a Pro feature.

Interface Overview

The Costs view presents budget and cost analysis:

Filter Bar

Period Selection: Choose analysis timeframe:

• This Week
• Last Week
• This Month
• Last Month
• Custom Date Range

User Filter: Filter costs to specific team members.

Status Badge: Shows current budget status (On Track, At Risk, Over Budget).

Budget Summary Header

Key financial metrics displayed:

Visualization Sections

Multiple views of cost data:

• Budget progress bar
• Cost breakdown charts
• Team cost comparison
• Trend analysis

Understanding Costs

How Costs Calculate

Cost = Hours × Rate

Example:

• Sarah logs 8 hours
• Sarah's rate: $75/hour
• Cost: 8 × $75 = $600

Rate Sources

Rates may come from:

• User profile: Individual hourly rate
• Role default: Rate per role (Developer, Designer)
• Project override: Custom rate for specific project
• Client rate: What client is charged (different from cost)

Cost vs. Revenue

Cost: What you pay for time (internal rate) Revenue: What you charge for time (client rate) Margin: Revenue - Cost = Profit

Costs tab focuses on internal cost tracking.

Budget Configuration

Setting Project Budget

Budgets are configured in project settings:

1. Navigate to Project Settings
2. Find Budget section
3. Enter total budget amount
4. Set budget period (if applicable)
5. Save changes

Budget Types

Fixed budget: Total amount for entire project Monthly budget: Recurring allocation per month Milestone budget: Amount per project phase

Budget Alerts

Configure alerts for budget thresholds:

• 75% consumed: Warning notification
• 90% consumed: Critical alert
• 100% consumed: Over-budget notification

Budget Summary Metrics

Total Budget

The allocated project budget amount.

Display: Currency formatted (e.g., $50,000)

Spent

Sum of costs for logged time:

Spent = Σ (Entry Hours × User Rate)

Display: Currency formatted

Remaining

Available budget:

Remaining = Budget - Spent

Display: Currency formatted with color coding

• Green: Healthy remaining
• Yellow: Low remaining (< 25%)
• Red: Over budget (negative)

Progress Percentage

Visual representation:

Progress = (Spent / Budget) × 100

Display: Progress bar with percentage

Burn Rate

Spending velocity:

Burn Rate = Spent / Days Elapsed

Helps forecast when budget will deplete.

Cost Breakdown

By Team Member

See who's consuming budget:

By Task Type

Understand cost distribution:

By Time Period

Track spending over time:

Budget Status

On Track

Indicator: Green status badge

Meaning: Spending aligned with timeline

• Budget consumption matches project progress
• No immediate concerns
• Continue monitoring

At Risk

Indicator: Yellow/amber status badge

Meaning: Spending trending high

• Consuming budget faster than planned
• May over-budget if trend continues
• Action recommended

Over Budget

Indicator: Red status badge

Meaning: Budget exceeded

• Spent more than allocated
• Requires immediate attention
• Review scope and resources

Forecasting

Budget Forecast

Based on current burn rate, predict:

Projected Total: Expected final cost if pace continues Budget End Date: When budget will deplete Variance: Difference from plan

Forecast Factors

Forecasts consider:

• Historical burn rate
• Remaining timeline
• Team capacity
• Planned work

Scenario Planning

What-if analysis:

• "If we add a developer..."
• "If we extend deadline..."
• "If we reduce scope..."

Team Cost Analysis

Cost per Member

Compare team member costs:

• Hours contributed
• Hourly rate applied
• Total cost generated
• Percentage of budget

Rate Variations

Different rates affect costs:

• Senior developer at $100/hr vs junior at $50/hr
• Same hours, different cost impact
• Consider rate when assigning work

Cost Efficiency

Identify efficient allocation:

• Task completion vs. cost
• Quality vs. cost
• Timeline vs. cost

Common Workflows

Weekly Budget Review

Every week:

1. Open Costs tab
2. Check budget status
3. Review burn rate
4. Compare to plan
5. Address variances

Monthly Reporting

For stakeholder updates:

1. Generate month-to-date costs
2. Compare to monthly budget
3. Document significant items
4. Forecast remaining budget

Project Close-out

When project completes:

1. Final cost calculation
2. Budget vs. actual analysis
3. Margin assessment
4. Lessons learned

Client Billing

Before invoicing:

1. Review billable costs
2. Verify rates applied
3. Compare to contract
4. Generate billing report

Rate Management

Setting User Rates

Rates are configured in user or project settings:

1. Navigate to team member settings
2. Enter hourly rate
3. Set effective date (if rate changes)
4. Save

Rate Changes

When rates change:

• New rate applies going forward
• Historical entries use old rate
• Recalculation available if needed

Multiple Rates

Some scenarios need multiple rates:

• Internal cost rate
• Client billing rate
• Overtime rate

Configure as needed for your billing model.

Best Practices

Regular Monitoring

Check costs weekly:

• Early detection of issues
• Smaller corrections needed
• Better forecasting accuracy

Rate Accuracy

Keep rates current:

• Update after salary changes
• Review annually minimum
• Consider all cost factors

Budget Buffers

Include contingency:

• 10-20% buffer typical
• Accounts for unknowns
• Reduces over-budget risk

Clear Communication

Share cost status:

• Team awareness helps control
• Stakeholder transparency
• No surprise overruns

Troubleshooting

Costs show $0:

• Check if user rates are configured
• Verify time entries exist
• Confirm rate effective dates

Budget not showing:

• Budget may not be configured
• Check Project Settings → Budget
• Verify permissions to view budget

Costs don't match calculations:

• Check which rate is applied
• Verify date range
• Some entries may have custom rates

Burn rate seems wrong:

• Calculation based on working days
• Holidays may affect
• Check period boundaries

Permissions

Cost visibility is restricted:

Rates are especially sensitive—often owner/manager only.

Pro Feature Details

Costs is part of the Pro plan. Without Pro:

• Tab prompts upgrade
• Basic time totals in Log tab
• No cost calculations

What Pro Adds

• Full cost calculations
• Budget tracking
• Burn rate analysis
• Cost forecasting
• Team cost comparison

Related Features

Time Tracking Entries: Raw time data Reports: Formatted cost reports Project Settings: Budget configuration Team Settings: Rate configuration