Launch
Grant Thornton Professional services02893-01Solar Century Africa Energy engineering 73992-01
  1. Getting started
  2. The organization
  3. Project management
  4. Task management
  5. Budgeting
  6. Change management
  7. Resource allocation
  8. Time tracking
  9. Expenses
  10. Clients and invoicing
  11. Leave tracking
  12. Real-time reporting
  13. Proposals
  14. Templates
  15. Integrations
  16. Account settings
  17. Open API

Budget pro

One convenient place to manage your project's financials. You have complete control how revenue and spending is calculated. Budget pro, along with smart project tools like document approvals and process flows help you stay on budget.

Available for projects that are part of an Organization with an Unlimited subscription.

Take a tour

See all the options for defining your project's budget, shown here in dark mode.

  • Analytics
  • Fundable milestones
  • People and roles
  • Line-items
  • Expenses
  • Budget settings
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Analytics
Real-time automated insights on your project's financials. At-a-glance metrics and deep dive across all metrics affecting your project

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Fundable milestones
Only applicable if you set "Fixed-bid" as your revnue model. Track fundable milestones that can be approved and ready for invoicing.

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People and roles
Roles represent a placeholder that person can fill (Designer, Engineer, Manager, etc...). The duration of a role and the cost and bill rates define cost and revenue based on time worked.

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Line-items
Extremly flexible and versatile calculations for one-time and recurring costs and revenue. You can add items like: Travel 300km x $5, Pizzas $45, Monthly server costs $180 per month and more.

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Expenses
Track and approve project expenses directly from Budget pro or the PM Workspace

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Budget settings
Define key aspects of your budget such as revenue model, currency, OT calculations, billable/non-billable or adding PO number for client projects.

Budget configuration

Options relating to Budget are available in Budget Pro for organizations with an Unlimited subscription.

These settings are first defined when you create the project and can be altered here after.

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LabelFeatureDescription
ASettings tabAccess this in Budget pro as an Admin or Prohect manager
BRevenue model

A project can be billable or non-billable. For a project to be considered billable it must have a client (specified in Project settings)

If a project is not billable, revenue will not be calculated but internal costs will be tracked if you have roles with an internal cost.

If a project is billable or is planned to generate revenue...

  • Fixed-bid

    Fixed bid is a probably the most common type of revenue model, where you quote a customer a fixed amount for the work. This can then be broken down into fundable milestones like 25% up-front, 25% for xyz and 50% upon completion.

    Fixed bid allows you to define these milestones and also approve them for invoicing.

  • Retainer budget

    Retainers allow you to plan for a fixed, recurring revenue amount. The frequency can be set to Monthly, Weekly or even Daily so you define things like $8,000 per month, $2,500 per week or $1,000 per day

    This recurring amount will estimate your budget until the end of the project and calculate actuals as the project progresses.

  • Time and materials

    Time and materials means all your time, effort and expenses will be compensated as revenue. So all your timesheet hours, line-items will be calculated daily and can be invoiced on demand as you wish.

    This is the ideal revenue model for a vendor, but few customers tend to agree to it because cost overruns are billable and the vendor has incentive to delay the project.

  • Hybrid

    You can combine all of the above for complete flexibility and control. For example you may have selected "Fixed-bid" but then add one-off line-items as revenue that can be invoiced on demand or by adding a bill rate to person in Roles missionX will start calculating their time based on that bill rate. Whatever combinbation you can think of, missionX supports it.

  • MX-Gantt

    MX-Gantt is a bit of a unique scenario as it was designed to track revenue at the task and phase level as bottom-up estimation of your WBS. Therefore it is recommended that all revenue be defined in your project plan

CBudget and currency

Set the currency to use for this project's budget calculations. This will affect reports at the Organization level.

Approved budget. This can be an approved amount by a client for a fixed-bid, the amount you have budgeted for an internal project, or just an estimate how much you expect to spend as a baseline.

DOvertime settings

missionX automatically tracks overtime for timesheet enabled projects. How you track overtime is defined in the Organization Config panel but can be overridden at the project level.

Tracking overtime can be done by OT hours per day or total OT hours each week. See Approving timesheets for more details