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Project Reports: Budget vs. Actual and Profitability

See how each project is performing against its budget and margin targets

Knowing whether a project is profitable — not just busy — is critical. These reports show you how actual hours and costs compare to your estimates, so you can intervene early on projects that are trending over budget.

Available Reports

  • Budget vs. Actual — Compare estimated hours or budget against actual time and expenses. Each project shows the estimate, the actual, the variance, and the percentage consumed. This is your early warning system — if a project is at 80% of budget with 50% of work remaining, you know to investigate.
  • Project Profitability — Shows revenue minus costs for each project. Revenue comes from billed invoices; costs come from employee rates multiplied by hours worked. This tells you which projects are making money and which are losing it.
  • Project Time Summary — Total hours by project, broken down by user and activity. Useful for understanding where hours are going within a project.

Running a Project Report

  1. Go to Reports from the left sidebar.
  2. Select the project report you want.
  3. Filter by date range, client, or specific project.
  4. Click Run Report.

Getting the Most Out of These Reports

Project reports are most useful when you've set up project estimates and budgets — without those baselines, the Budget vs. Actual report has nothing to compare against. If you haven't set budgets yet, start with the Project Time Summary to understand where hours are going, then set budgets based on what you learn.

Run these reports regularly — weekly or bi-weekly. Catching a budget overrun at 60% completion leaves room to course-correct. Catching it at 95% doesn't.