Developed Project Budgeting
Clarc introduces improved project budgeting capabilities, allowing users to set profit margins and allocate budgets based on percentages. With the ability to track contracted amounts separately, users can streamline their project management and provide valuable feedback on these new features.
Set profit margins, allocate budgets with precision, and track contracted amounts separately for streamlined project management and improved financial control.
Here’s another exciting release in which we’re changing the way you manage your stage budgets within Clarc. This update introduces profit margins and percentage-based budget allocation.
Here’s what you’ll see the next time you manage your project stages:
You will now be able to:
• Set overall project budgets with a profit margin separate to your stage budgets.
• Distribute your remaining project budget to each of your stages the same way you have before, with hourly rate, fixed fee, or even a % of the total budget.
• Budgets can automatically update as the overall contracted amount changes, ensuring your budgets are always up to date.
• The profit retention percentage can be locked at a flat rate or change according to the budget required for the project.
1. Setting Up Hourly Cost to Project Budget
Before you start managing your project stages, don't forget to set up the team member hourly cost (which can be found in the admin settings) to reflect the profit margin which is show in the manage stage areas of projects.
2. Setting Up Profit and Budget
Then, you can allocate a default profit and budget % to all future projects.
More Updates from Us ...
Previously in our project budget report, budget and contracted amount were appeared under one. Now, we have contracted amount which appears separately, which you can easily keep track of.
These functions have now gone live! Start exploring now and let us know what you think. For more info click here~
We welcome your invaluable feedback on our new and existing features.