Glossary: Actual vs Budget reports data

Table of Contents

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) in this article, to be read side by side with Creating and managing tasks, and Actual vs Budget Reports.

Actual Hours

A sum of the total hours spent on the job (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.

Actual Value/Actual Fees

This is the total cost of the actual time spent.= Hours Worked x Employee Charge Rate. Charge rate is the default unit, however the report: Actual vs Budget by Job and Task will allow you to choose whether charge, cost or scaled cost rate is used.

Consultant Fees

The budget entered from the ‘Sub consultants we invoice’ field in the Job 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 a task.

Disb Budget to Completion

Used in place of the Disbursements estimate for a task and displayed in the Actual vs Budget by Job, 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 a task.

Fee/Fixed Fee/Fee Estimate

This is the Fee estimate from your Job Billing Details. It will be the sum of your task fee estimates. Alternatively, you can enter a single amount directly into this field.

Fee Estimate

Can also be the estimated fee for each task. Either calculated 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 Job, 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 a 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 job/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 Job Tasks screen right click on any task line to enter one or more progress assessments for each task.

Job/Project Fee Budget

Another name for the Fixed Fee/Total Fee Estimate.

WIP Value Fee Contribution

Also called Invoice Fee Contribution, WIP Value Fee Contribution, and Earnings. This is the value of hours worked by each employee on the job, apportioned to the total Fees invoiced. For the WIP Value Fee Contribution figure to be relevant, all hours worked on a job must be assigned to an invoice line amount (even if that amount is zero).

See this article for examples of the fee contribution calculation