Actual vs Budget Reports

Once you’ve started using Tasks for your projects and timesheets you can learn from them over time.

Tasks(also known as Stages, Phases or Matters) can be used to see how good staff are in getting through work allotted to them, as well as how good you are in your estimates.

You can analyse data entered against tasks either as hours worked or a budget amount.

Even if you don’t have a budget or estimate for a task (be it a variation, or something that you are charging at an hourly rate) it’s a good idea to assign the item of work as a task to your project. You can leave the hours and fee value equal to zero.

Later on you can look at the actual time and cost assigned to the task and get a better idea of budgeting for the next job of the same type. Or you can use the tasks to simply know approximately how much time these variations to jobs typically take (and how they can affect staffing and scheduling of other jobs).

After using Abtrac for about 18 months, one of our clients, told us “I work out the budget very scientifically and then I add on 30%”.

He’d learnt after using Abtrac for that period of time that he was under-quoting and thus writing off to that extent on nearly every project.

We’d recommend reading this article about Actual vs Budget reports in conjunction with our Creating and Managing Tasks article, and also this one here which includes a glossary of the data within the Actual vs Budget reports.


The following Actual vs Budget reports are useful for analysing hours and fees estimated and recorded against a project.

  • Actual vs Budget Summary by Project

  • Actual vs Budget by Project*

  • Actual vs Budget by Project and Task*

  • Actual vs Budget by Project, Task and Additional Values*

  • Actual vs Budget by Project and Task (Fees only)*

  • Actual vs Budget by Project and Task (Hours only)*

  • Actual vs Budget by Project and SubTask

*These reports compile and display information from your project, timesheet and invoice tables within your Abtrac data file.

If you have a large number of current clients and projects you may find it more efficient to filter these more detailed reports by Office, Client, Project or Project Manager – rather than running the reports for all projects in your system.

Actual vs Budget Reports: Data Glossary

Before you start using Actual vs Budget reports it’s useful to understand where the data they display comes from. We’ve included a definition for the relevant columns, (including an example calculation where applicable) here in a separate page so you can view the terms side by side with the images below. You can also scroll down and view the same Actual vs Budget Reports: Data Glossary at the end of this article.

 


Actual vs Budget Summary by Project

Actual vs Budget Summary by Project displays the Client Name, Project Code, Project Description, and optionally groups/filters by Project Owners.

For each it gives the Actual Hours worked, Project Fee Budget (Fee Estimate/Fixed Fee), Actual Value of Time, Variance (between fees), and the Percentage Fee Consumed.

Actual vs Budget Summary by Project

Actual vs Budget Summary by Project

 


Actual vs Budget by Project

Actual vs Budget by Project displays Client Name, Project Code, Project Description, and the Fixed Fee from Project Billing Details.

For each project it gives a totals line showing: Fixed Fee, WIP Value Fee Contribution, Estimated Hours, Actual Hours, Variance (between hours), Estimated Value, Actual Value, Variance (between values of work), Percentage Fee Consumed.

As well as a total the report details the Employee names, charge rates and  extensions for all the actual hours worked. If you’ve built up your estimates using sub-tasks these lines will include estimates for each employee as well as for the project as a whole.

Actual vs Budget by Project

Actual vs Budget by Project

 


Actual vs Budget by Project and Task

Before previewing the Actual vs Budget by Project and Task report you can choose whether charge or cost rate is used for actual values.

The report displays Client name, Client Code, Project Code, Project Description, and the Fixed Fee from Project Billing Details. The report groups Actual vs Budget totals by Client as well as by Project.

For each Project the report details each Task and shows: WIP Value Fee Contribution, Estimated Hours, Actual Hours, Variance (between hours), Estimated Value, Actual Value, Variance (between values of work), Percentage Fee Consumed, and a Progress Assessment.

Actual vs Budget by Project and Task

Actual vs Budget by Project and Task (no Task Groups)

 

If you use Task Groups then the Actual vs Budget by Project and Task report will first order and group by Task Groups, and then by Task.

Actual vs Budget by Project and Task (with Task Groups)

Actual vs Budget by Project and Task (with Task Groups)

 


Actual vs Budget by Project, Task and Additional Values

Before using the Actual vs Budget by Project, Task and Additional Values report you’l need to enable the Additional Values estimate columns in the Tasks screen from  Administration > Settings > User Control Settings. Read more about Additional Values here.

The report displays Client name, Client Code, Project Code, Project Description, Project Owner, and the Fixed Fee from Project Billing Details.

For each Project the report details each Task and shows:

Estimated Hours (Original), Actual Hours, Variance (between Estimated and Actual Hours), Projected Additional Hours

Estimated Value (Original), Actual Value, Variance (between Estimated and Actual Values), Projected Additional Value

Disbursements (Actual), Disbursements Budget to Completion, Forecast Completed Value.

Actual vs Budget by Project and Task and Additional Values

Actual vs Budget by Project and Task and Additional Values

 


Actual vs Budget by Project and Task (Fees only)

The report displays Client name, Client Code, Project Code, Project Description, Project Owners, and the Fixed Fee from Project Billing Details. It groups Actual vs Budget totals by by Project.

For each Project the report details each Task and shows: Fee estimate, Fees invoiced*, Actual Fee Values, %ge of Budget Spent, Unbilled Fees, Date of last invoice, Percentage progress assessment, Sub Consultant fees budgeted, and Sub Consultant fees invoiced*, Disbursements invoiced*.

Actual vs Budget by Project and Task (Fees only)

Actual vs Budget by Project and Task (Fees only)

 

*This report is only available for billable projects. And the report will only show relevant billable/invoiced information where the invoice line amount also has a relevant time or cost line assigned to it.

If there is no assigned time or cost, then the invoiced amount is unable to be assigned to an task – and  the invoiced amounts will not match your invoice listing totals.


Actual vs Budget by Project and Task (Hours only)

The report displays Client name, Client Code, Project Code, and Project Description. It groups Actual vs Budget totals by Project.

For each Project the report details each Task and shows: Estimated Hours, Actual Hours, Variance (between hours), and the percentage fee consumed. If Task Groups are used the report will also show Task Groups.

Actual vs Budget by Project and Task (Hours only)

Actual vs Budget by Project and Task (Hours only)

 


Actual vs Budget by Project and SubTask

Displays Client name, Project Code, Project Description, and the Fixed Fee from Project Billing Details. The report will also optionally group by Project Manager.

For each project it shows: Fixed Fee, WIP Value Fee Contribution, Estimated Hours, Actual Hours, Variance (between hours), Estimated Value, Actual Value, Variance (between values of work), Percentage Fee Consumed, and a Progress Assessment.

This report is an extension of Actual vs Budget by Project. All amounts are broken down further by Task, and then Sub Tasks (Employees), Disbursements are also included and detailed line by line.

Totals are given by Task, and for the entire Project.

Actual vs Budget by Sub Task

Actual vs Budget by Sub Task

 


Actual vs Budget Reports: Data Glossary

We’ve included a definition for the relevant columns in the report images above, (including an example calculation where applicable).

This same glossary is also here in a separate browser page so you can view the terms side by side with this reports article.

  • Actual Hours
  • Actual Value
  • Consultant Fees
  • Consultant Fees invoiced
  • Disb Budget to Completion
  • Disbursements invoiced
  • Fee/Fixed Fee/Fee Estimate
  • Fee Estimate
  • Fees invoiced 
  • Forecast Completed Value
  • Percentage Fee Consumed (% Fee Consumed)
  • Percentage of Budget Spent/ %ge of Budget Spent
  • Progress Assessment
  • Projected Additional Hours
  • Projected Additional Value
  • Project Fee Budget
  • WIP Value Fee Contribution
  • Unbilled Fees
  • Variance

  • Actual HoursA sum of the total hours spent on the project, sometimes rounded to a whole number. In some reports you can choose whether to show the Actuals for the life of the Job, or for a certain date range.

    AbtracOnLine - Date filtering for Actuals

    AbtracOnLine – Date filtering for Actuals

  • Actual Value/Actual Fees – This is the total cost of the actual time spent.= Hours Worked x Employee Charge RateCharge rate is the default unit, however the report:Actual vs Budget by Project and Task will allow you to choose whether charge or cost rate is used.

    AbtracOnLine – Charge or Cost rate for Actuals

    AbtracOnLine – Charge or Cost rate for Actuals

  • Consultant Fees – the budget entered from the ‘Sub consultants we invoice’ field in the Project tasks screen.
  • Consultant Fees invoiced – shows the invoice line amount for that task. This field will only show an invoiced amount in Actual vs Budget reports if the invoice line amount also has a sub-consultant disbursement assigned to it. If there is no disbursement, then the invoiced amount is unable to be assigned to an task.
  • Disb Budget to Completion – used in place of the Disbursements estimate for a task and displayed in the Actual vs Budget by Project, Task and Additional Values report
  • Disbursements invoiced – shows the invoice line amount for that task. This field will only show an invoiced amount in Actual vs Budget reports if the invoice line amount also has a disbursement assigned to it. If there is no disbursement, then the invoiced amount is unable to be assigned to an task.
  • Fee/Fixed Fee/Fee EstimateThis is the Fee estimate from your Project Billing Details. It will be the sum of your task fee estimates, alternately you can entered an single amount directly into this field.
    AbtracOnLine - Project Fee Estimate

    AbtracOnLine – Project Fee Estimate

  • Fee Estimate – Can also be the estimated fee for each task. Either calulated by Abtrac from Hours x Charge Rates, or a number entered by you.
  • Fees invoiced – shows the invoice line amount for that task. This field will only show an invoiced amount in Actual vs Budget reports if the invoice line amount also has time assigned to it. If there is no time, then the invoiced amount is unable to be assigned to an task.
  • Forecast Completed Value – displayed in the Actual vs Budget by Project, Task and Additional Values report. A calculation of :

Estimated Value + Projected Additional Value + Disbursements Actual + Disbursements Budget to Completion = Forecast Completed Value

  • Percentage Fee Consumed (% Fee Consumed) – The fee estimate less the actual value.
  • Percentage of Budget Spent/ %ge of Budget Spent – Actual Fees divided by the Fees invoiced (Another way of looking at write ons/ write offs)
  • Projected Additional Hours – a second estimate of time against an task with an original hours budget
  • Projected Additional Value – the additional fee value calculated from any Projected Additional Hours
  • Progress Assessment/% Progress – usually entered by the project manager it indicates how far through each stage the team feel they are  – “I think we’re nearly halfway” etc…This percentage is not related to any estimates or actual amounts.From the Project Tasks screen right click on any task line to enter one of more project assessments for each task.
    AbtracOnLine - Right Click to Enter Progress Percentage estimates

    AbtracOnLine – Right Click to Enter Progress Percentage estimates

    AbtracOnLine - Task Progress Assessment

  • Project Fee Budget  – another name for the Fixed Fee/Total Fee Estimate.
  • WIP Value Fee Contribution – the value of hours worked by each employee on the project, apportioned to the total Fees invoiced.For the WIP Value Fee Contribution figure to be relevant all hours worked on a project must be assigned to an invoice line amount (even if that amount is zero).
  • Unbilled Fees – the value of any time for a task which is yet to be assigned to an invoice line.
  • Variance – the difference between the budget amounts and actuals in each report. This will be either hours, value of hours, fees etc.

Abtrac KB# 2067