Budget Tracking

Wrike desperately needs to implement a budget tracking aspect to its software. Understanding what was proposed originally vs how much is actually being spent is a fundamental requirement for any project. I've seen posts about this being requested in 2016 and still nothing has been done.  At least not that I have found. In my mind it is a simple calculation. If the way forward is to create custom fields with a budget column, and an actual column, then there should be a calculation function in which I can subtract one from the other.

Upvote 16
9 comments
Official comment Spot On Innovative Approach Stellar Advice
Avatar
Lingbo Lu

Hi all! 

Our team have been working on a feature to set up rates for users and job roles so that you can track project accounting data to view, track, and forecast projects' cost and revenue. It's now open for Beta signup. 

If this sounds interesting to you, please head over to the following thread and leave comments there. https://help.wrike.com/hc/en-us/community/posts/360046901994--Read-Me-Join-the-Beta-Program-Rates-for-Users-and-Job-Roles-to-Track-Projects-Cost-and-Revenue

Looking forward to hearing from you!

0
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

Sebastian Becht - Have you tried using Calculated Custom Fields - https://help.wrike.com/hc/en-us/articles/360036858954-Calculated-Custom-Fields? Do you know if this would work for your team?

Hope that helps!

Mark Tapia Community Team at Wrike Wrike Product Manager Become a Wrike expert with Wrike Discover

Mark Tapia Wrike Team member Become a Wrike expert with Wrike Discover

0
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

Is it somehow possible to use if-conditions? Except we have a general hourly rate and a reduced one. 

I guess it should be somethink like: 

if ([rate_type] == 'general') [hourly_general]*[time] else [hourly_reduced]*[time]

0
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

You should be able to do this with Calculated Custom Fields, as long as you have the correct rate in a custom field. For example, you could have an "Hourly Rate" custom field, and put in the "client rate" or "reduced rate" as a number (instead of a word), and do math with that.

e.g. Calculated Custom Field is set to [Hourly Rate]*[Time]

Mark Tapia Community Team at Wrike Wrike Product Manager Become a Wrike expert with Wrike Discover

Mark Tapia Wrike Team member Become a Wrike expert with Wrike Discover

0
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

Hey Mark. 

Thanks for this. Seems to be a bit complicated to me to put  the hourly rate inside of every single ticket in a project... But ok, that would be a workaround.

greetings,

-sebastian

0
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

I absolutely support this request. Calculated fields are not enough if part of my project budget is not "time spent" but acquisition of equipment or other expenses. The idea would be to have a sort of "add expense" feature (similar to the time input) that would help us compare the original budget (that is easily created as a custom field) and the total expenses as of today

1
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

Hi Tomás Larriba Martínez, welcome to the Community! 🙂

Thanks a lot for your feedback! I think what you're describing can also be achieved by Custom Fields - you can add fields for the types of expenses, planned budget, total expenses, and so on. 

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

0
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

Hi Lisa,

What I need is a field where I can keep adding up expenses. As far as I know there is no way in Wrike to add expenses in a similar fashion that you add hours... I either have to create a new custom field for each expense (which creates a mess) or create a new task to input the expense in the "expenses field" and, then, use the rollup function to see the total in the project field.

If there is any other way, please let me know 😀

Cheers

0
Comment actions Permalink
Spot On Innovative Approach Stellar Advice
Avatar

Those two ways should work, but I'm raising a Support ticket for you in case there might be other ways for this too 🙂

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

0
Comment actions Permalink

Folllowing List for Post: Budget Tracking
[this list is visible for admins and agents only]

Top
Didn’t find what you were looking for? Write new post