Stay in control of your budget and decide whether the budgeted time or the budgeted amount is a priority for your firm. If your firm prefers to keep budgeted amounts in check, you now have the ability to fix the budgeted amounts to help achieve this. This level of flexibility enables you to stay firmly on track, even when billable rates undergo changes.

Previously, budget control was based on time. If your billable rate on a task changed, your budgeted hours would remain fixed, but the total amount of the budget estimate would change accordingly.

Now, you can choose whether you’d like to control your budget by time or amount. Admins can select this option in Settings > Time & Budgets > Budgets > Budget Estimates.

When you choose to control the budget by amount, even if the rate changes on a budget estimate, the total estimated amount of the project will remain the same. This is because the budgeted time will automatically adjust to compensate for the change in the rate, whereas the Estimated Amount will stay fixed.

If a custom rate is changed, this would only affect that singular time entry. However, should you change a colleague rate or the rate for a role and task type combination, this will then be reflected in all active work that has estimates using that colleague rate or that role and task type rate respectively.