Configuration

Before you start tracking project finances, you need to complete a few setup steps. In Worklenz, finance calculations are based on logged time and rates assigned to job titles. Follow the steps below in order.

Step 1: Create Job Titles

Every team member needs a job title for finance tracking to work correctly.

Go to Settings.
Click on the Job Titles tab.
Enter the job title name.
Click Create.

Repeat this for all job titles in your organization.

Step 2: Create Rate Cards

Rate cards define the hourly rates for each job role.

Go to Settings.
Click on the Rate Card tab.
Click Create Rate Card.
Enter a name for the rate card.
Select the currency.
Add the job roles you want to include.
Click Save.

Tip: Click the Add All button at the top of the drawer to quickly add all job roles at once.

Step 3: Configure Rate Card in Your Project

Now, add job roles to your project. You can do this in two ways:

Open your project.
Click on the Finance tab.
Click on Rate Card.

Option 1: Import a Rate Card

Click the Import button.
Select the rate card you created in the Settings page.
All job roles from that rate card will be imported automatically.

Option 2: Add Roles Manually

Click the Add Role button.
Select the job roles you want to add.
Repeat for each role you need.

After adding roles using either option:

Set the Rate per Hour for each role.
Assign the appropriate job role to each team member.

Step 4: Set the Project Budget

You can set your project budget in two ways:

Option 1: Click the pencil icon on the Manual Budget card section.
Option 2: Click the gear icon on the right side of the Overview section.

Enter your budget amount and save.

Important Notes

Time costs are calculated based on the estimated time per task and the logged time by each assignee. While adding estimated time is not required, we recommend asking team members to add estimated time when creating a task or at the beginning of work.
When creating a task, make sure to select whether the task is Billable or Non-Billable. This ensures accurate financial tracking and reporting.
You can add fixed costs per task in addition to the calculated costs. This is useful for expenses that are not based on time, such as materials or external services.