Budgeting: Tracking fixed costs and including in a combined report with actual fees for time entries
Several of our clients work off retainer. We are currently working on implementing hourly cost calculation based on the time we enter in Wrike. Our goal is to enter everything in wrike and then run a monthly report to sum up all the expenses from that month and subtract from our retainer.
However, we have other fixed costs like video capture days or travel expenses that are not based on time entries. It would be nice to be able to run one financial report out of wrike and have it sum both labor and fixed costs together.
Ideally, I'd like to have an item type called "fixed cost" that has a date, a manually editable "Actual Fees" and "Actual Cost" field, and could be associated with a task in a way that it shows up when we run a report based on time entries.
Fixed cost would not be associated with a specific user like time entries are.
I believe we can do something like this with custom item types right now, but we would have to run two separate reports: one for the fixed costs that is based on tasks, and one for the time based on time entries. In an ideal world, we would be able to build one report that sums all fees and costs for time and expenses that occurred in a given time range.
Thank you for submitting your feedback on budget reporting Austin Hines, I'll now share it with our Product team 👍
Lisa Community Team at Wrike Wrike Product Manager Become a Wrike expert with Wrike Discover
Lisa Wrike Team member Become a Wrike expert with Wrike Discover
I'm here in search of a solution similar to what Austin is asking for. We would like to track other non-time related costs and expenses on a project level. Things such as travel expenses, vendor costs, etc. We are piecing it together outside of Wrike now but it is messy, and would be great if a function is eventually developed to track the total project budget, not only time. This would help us to see project profitability in one tool. Keep us updated if this is on the horizon, thank you!
Thank you for sharing your use case and feedback with us, Heather McCoy! Please, rest assured that we will keep you updated 👍