Budgets & Job Cost Tracking in VeriClock

VeriClock job costing helps track job progress by hours or dollars to keep projects on budget and on schedule. Administrators can assign dollar or hour budgets to jobs across multiple time frames—including daily, weekly, monthly, payroll period, or all-time—with overtime costs calculated at the correct pay rate. Budget progress can be viewed directly from the job record, monitored in customizable reports, and supported with automated alerts when cost or hour thresholds are reached, providing clear visibility into labor spend and job performance.

For information on adding jobs, see Adding and Editing Jobs

Budgets can be tracked in:

• Dollars - this option tracks the cost of employee hours at their pay rate. To track budget in dollars, pay rates must be added for each employee that will be clocking into that job. See Setting Employees' Pay Rate *Any overtime worked for a job will be calculated at the cost of the overtime rate*
• Hours - this option tracks the number of hours for any employee clocking into this job.

Budget Time Frames

To track a job budget, a dollar and/or hour amount must be entered for one or more of the following time frames:

• All Time Cost/Budget - this option tracks ALL dollar cost and/or hours, clocked into that job for the life of the job.
• Monthly Cost/Budget - the monthly option tracks the dollar cost and/or hours clocked into that job for the entire calendar month.
• Weekly Cost/Budget - the weekly option tracks the dollar cost and/or hours clocked into that job for the week as set in your account. To view the calendar week set in your account, go to the tabs: Time>Add Time Grid. To change your start day, see Setting the Company Payroll Period.
• Daily Cost/Budget - the daily option tracks the dollar cost and/or hours clocked into that job for each day. The daily budget for days in the past can be viewed in reports.
• Payroll Cost/Budget - This option tracks ALL dollar cost and/or hours that have been clocked into a that job for the entire pay period. To set your account pay period, see Setting the Company Payroll Period *Your account pay period also sets the start and stop days of your calendar week.*

Add A Budget To A Job

To add a budget, go to the tabs: Job>click Add Job, or click the blue Edit button to the right of a job to edit an existing job>click on the Budget tab>add the dollars and/or hours for any/all the time frames being tracked>click Save.

View Budget Progress

After adding budget info into a job, you can click the Show Progress button from the tabs: Jobs>to the right of the job click the blue Info button>a blue Load Progress button will be displayed for each budget that was entered. This will display the progress of all clock events for that job within the listed time frame.

View Job Costing In a Report

Budgets can be tracked in reports for any time frame a report is generated for. See Customizing Your Reports & Templates. Budget columns can be enabled in your report by scrolling to the bottom of the displayed fields box. *Report totals will differ if the budget time frame being tracked differs from the report time frame.*

Job Costing Alerts

Alerts can be set to notify when a job reaches an hour or dollar milestone. See Alerts - Job Cost for more information on setting up job costing alerts.