Budgeted costs and revenue in Moment's Project Plan

In this article we will cover some simple concepts regarding budgeting costs and revenue in Moment's project plan.

Budgeting costs in the project plan

Costs in the project plan depend on two factors.

• Payroll related costs. Alternative we can think of it as the minimum amount of revenue required for an employee to covers his/hers own costs.

• Expenses. These are necessary purchases of materials needed in a project, for example maps, travelling costs or services from an external supplier.

In order for Moment to calculate payroll costs accurately, you need to fill in a co-workers hourly rates. If these rates are not accurate or nor up-to date, Moment will not be able to calculate payroll costs for the project. If any of the co-workers in a project does not have a complete hourly rate page, it will show a picture like this in the project plan's financial view:

In this picture you can see under "employee true cost" there are several red warning triangles. This indicates that there aren't any values in the hourly wage for the co-workers that allow for a proper calculation of costs. When hourly rates are lacking, the budget column for employee true cost may also just show zero values.

Depending on the rule you have set up for calculating the employee true cost under setup > settings >project, you can still have a calculation of the employee true cost if it is defined under role. To see this go to setup > roles to see the hourly rate basis.

In other words: If you are not getting any employee true cost values in the project plan, make sure that the hourly rates are defined either on the co-workers page or under roles. This will in turn depend on the rule assign for the calculation of employee true cost.

Expenses

You can budget expenses in the project plan in a very simple manner. If you know beforehand that you will get expenses, you can add them in the following way :

Simply go to the tab expenses in the project plan, choose an activity and then simply add them:

In the example above, we have added expenses on the cost side and on the income side. We have accounted for a small difference in our favor to account for surcharges etc.

Budgeting income

it is important to emphasize that in Moment you cannot budget for a monthly basis. The project plan allows for estimates in total. You can estimate a total fee in the price setup. In turn this will show up in the project plan under "key figures" after you enable for "expanded version":