---
title: "Setting Up Budget Tracking for a Project in Ontraccr"
url: "https://help.ontraccr.com/en/article/setting-up-budget-tracking-for-a-project-in-ontraccr"
language: "en"
last_updated: "2025-06-06T23:09:22.365Z"
---

# Setting Up Budget Tracking for a Project in Ontraccr

## 📊 **Setting Up Budget Tracking for a Project in Ontraccr Overview**  
 

Budget Tracking in Ontraccr lets you **plan**, **monitor**, and **control** your project finances.

You can set labor, material, overhead, and equipment costs — plus forecast profits — all from inside each project.

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## 🎯 **Why Set Up Budget Tracking?**

-   Track your **estimated vs. actual costs** over time.
-   Set **clear cost expectations** before work starts.
-   Monitor **profit margins** throughout the project.
-   Break down budgets by **phases** if needed (e.g., floors in a building).

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## 🛠️ **How to Set Up Budget Tracking**

In the **Budget Tracking** step (Step 5) while creating or editing a project:

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### 1\. ✅ **Enable Budget Tracking**

-   Check the **Track Budget** box to activate the page.

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### 2\. 📊 **Choose How to Build the Budget**

You have two options:

### 📈 **Option 1: Build Estimate (Auto-Calculate)**

-   Check **Build Estimate**.
-   Enter **cost values directly into your Cost Codes**.
-   Ontraccr **automatically calculates**:
    -   Total Labor Costs
    -   Material Costs
    -   Overhead
    -   Equipment Costs
    -   Estimated Profit

✅ Best if you want to **build the estimate inside Ontraccr**.

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### ✍️ **Option 2: Manual Entry (Enter Totals)**

-   Leave **Build Estimate** unchecked.
-   Directly type in:
    -   Estimated Labor Hours
    -   Labor Costs
    -   Material Costs
    -   Overhead Costs
    -   Equipment Costs
    -   Burden Rate (e.g., 32% extra to cover benefits, insurance, etc.)
    -   Contract Value
    -   Expected Profit

✅ Best if you **already have estimates** prepared externally.

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### 3\. 🏗️ **Optional: Add Project Phases**

If you have **Phased Cost Codes**:

-   Scroll down to the **Phases Section**.
-   Add Phases (e.g., "Level 1 Framing," "Level 2 Plumbing").
-   Assign relevant phased Cost Codes to each Phase.
-   Set budgets for each phase separately.

🧠 **Tip**: Phases help track detailed progress — great for large, staged projects!

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## 📅 **Optional: Add Dates and Timelines**

-   Click **Add Dates and Timelines** if you want to track:
    -   Project Start Date
    -   Project End Date
    -   Key Milestones

✅ **Helps in reporting and scheduling** across projects!

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## 📈 **Monitoring Allocated Hours**

If you enter **Estimated Labor Hours**, Ontraccr:

-   Tracks how many hours you allocate to Cost Codes.
-   Shows you how much you’ve allocated vs. estimated.
-   Warns you if you **over-allocate** beyond your target!

📢 **Red Highlight** if you exceed allocated labor hours.

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## 🧠 **Important Rules & Tips**

**Cost Codes Must Be Set First**:

You can’t build a budget if no Cost Codes are assigned to the project.

**Burden Rate Matters**:

Accurately setting a burden rate ensures true cost tracking (e.g., benefits, insurance costs).

**Add Phases for Detailed Budgets**:

Helps track over/under budget issues before it’s too late.

**Use Contract Value for Profit Calculation**:

Without a contract value entered, profit forecasting won't be possible.

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## ✅ **Example Scenario**

You're managing a $2M commercial renovation.

-   Estimated Labor: 5,000 hours
-   Material Costs: $400,000
-   Overhead: $150,000
-   Equipment: $50,000
-   Burden Rate: 30%
-   Contract Value: $2.2M

You set this up manually to instantly forecast expected profit and monitor costs.

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## 🚀 **Summary**

Budget Tracking in Ontraccr gives you a **powerful financial control tool** — from day one through project closeout.

Set your budgets right early, and you’ll have real-time insights all the way through!