Whether you're a team leader, freelancer, or consultant, the budgeting feature is a great tool to keep track of how far along you are on a project for a client. With the advanced project settings, you can see at a glance the progression of each project. When creating a project you are able to create two different types of budgets, a Time budget or a Money budget.
Budgets can be made when creating a project or editing a project.
Money budgets are a great choice when you and a client decide on a fixed price per project. As you decide on a money budget, it's good practice to adjust or set hourly rates for users to accurately reflect the value of their time. This way you can be sure to allot your team members the correct amount of time to work on a project, while staying on budget.
Time budgets summarize all your hours spent on a project to calculate your progress. Time budgets are a solid choice when you're not so concerned about how much money you're spending per project but more how you're spending it.
Can I add a recurring budget?
Sadly you can't add recurring time or money budgets (this is something we are looking into). What you can do is set a total budget! All budgets in Timely are total budgets. We recommend you divide that total budget by how many weeks or how many months you want it to go over and allot that to your week or month when scheduling your team's time.