Can I track expenses on a project?


May 26, 2017 by Nic Widhalm

When you’re working on a project and need a quick way to enter your expenses, Cloud Coach has you covered. By using our Project Financials tab, users can quickly enter and track expenses on their project, sort them by date, and even categorize by CAPEX and OPEX. Join the team this week as they answer the question, “Can I track expenses on a project?”

TRANSCRIPTION:

Hello everyone, thanks for joining us today. I’m Nic from Cloud Coach and today we’re going to answer the question, “Can I track expenses on a project?”

So, I’m right here on my project “Database build” and I want to enter some expenses against it. So I’m going to go right here to my financials tab and go into our Project Financials module. Now, with Project Financials first we get this summary tab, so we can see at a glance how our actuals are doing against our budgeted and we can filter this by months, quarters, or years. We also get the side panel which is customizable, so you can add in fields to see things like an approved budget, your total budgeted expenses, or you can even add in things for earned value and plan value.

Now, to see the specific expenses I click on this tab right here. You can see you can set up an area and sub areas underneath it, which are fully configurable to match your business areas here and then you can enter your actual and budgeted expenses. You can do it either by an amount or you can break it up if you’d like into CAPEX and OPEX here as well, so we give you both options. Now, if I want to go ahead and enter in a new expense I click right there and I can enter in multiple field levels if I want to. I can create these line items here for CAPEX and OPEX but different amounts against them and this again is fully customizable so you can put in whatever kind of information you need right there. And then once you’re done with that if you’d like you can also submit your budgeted expenses for approval if you’re in the early planning phases there as well.

All right, so just a couple quick easy ways by using that Project Financials tab that you can enter and track your expenses on a project. So, thanks again for joining us today and make sure to come back next week for another 2-minute video. Take care.

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