To manage your budget effectively, you can prioritize either budgeted time or budgeted amount. This feature provides flexibility to maintain control, even with changes in billable rates.
Admins can choose to control the budget by amount or time in Settings > Time & Budgets > Budgets > Budget Estimates.
When controlling by amount, the total estimated budget remains constant despite rate changes. The budgeted time will automatically adjust to compensate for rate changes, keeping the estimated amount fixed.
Impact of Rate Changes
Custom Rate Changes: A change to a custom rate affects only the specific time entry.
Colleague or Role Rate Changes: Updates to colleague rates or role-specific rates will affect all active estimates using that rate.
Scenarios where updating a rate will not affect estimates:
Completed Work Items: Updates to rates impact only active work items. Changing the status of a completed work item to active will apply the updated rate.
Submitted Time Entries: Time entries submitted for approval are locked, and changes to rates will not affect these entries.
Approved Invoices: Time entries included in approved invoices are locked, and rate changes will not affect these estimates.