How do I create a project, including a budget?

In TimeStatement, project time can only be recorded after a client and at least one related project have been created. You can create as many projects per client as you like.

Tip: With TimeStatement, you can create a sample project with your standard settings – such as project details, employees, tasks, expense categories as well as flat rates and retainers. You can reuse this template for future projects: clone the sample project in just a few clicks and all predefined settings are transferred to the new project automatically.

To create a project in TimeStatement:

1. Click the "Projects" tab and then "Create Project".

2. You can now use an existing project as a template. All relevant details are then copied automatically, including assigned members, project tasks, expense categories and – if you enable "Copy Flat rates / Retainers" – also the flat rates and retainers. If you want to create a completely new project from scratch, leave the "Template" field empty and click "Next".

3. In the next step, enter the most important project details: the project name and the client. You can add a "Reference number", set a "Start" and "End" date or add a "Remark". These details are for information only and don't affect the project.

Note: Every project must be assigned to a client. Each client can have several projects.

4. Next, set the billing type. Several options are available:

• • Not billable: If the project isn't invoiced, for example because it's an internal project.
  • Project hourly rate: If a single hourly rate applies to the entire project.
  • Task hourly rate: If different tasks have different hourly rates.
  • Employee hourly rate: If billing varies by employee.

5. You can also make other important settings, such as the "Currency" (for example euros), the "Hourly rate", an expenses flat-rate, the detailed invoice feature (i.e., whether invoice items are shown cumulated or in detail) and the "Budget type".

6. Once you have entered all the details you want, finish creating the project by clicking "Save".

7. After the project has been created, you can customize it further by adding members, defining project tasks, setting up expense categories or setting up flat rates and retainers.

How do I set a budget for a project?

To define a budget for a project:

1. Click the "Projects" tab and select the project.

2. Under "Budget type", you can choose between "Time budget" and "Money budget". Then enter the limit below: in the "Time budget" field (hours) or, with "Money budget", in the "Budget amount" field.

3. Optionally, you can set a "Budget start date" and decide whether and when the first and second budget notifications ("1st budget notification", "2nd budget notification") should be triggered. These notifications are sent to both admins and project leaders.

4. With "Money budget", you can also enable "Include expenses in budget" if needed. This option is only shown for "Money budget". By default, only project time is included in the budget, not expenses.