Approved Timesheets
The Approved Timesheets column shows the total cost of all approved timesheet entries associated with a specific cost code or budget item.
When a timesheet is approved:
Buildern calculates the labor cost using the assigned Hourly Cost of the team member.
The calculated amount is added to the Approved Timesheets column.
These values represent validated labor expenses that have been reviewed and approved by your team.
ℹ️ Note- Approved timesheets are considered finalized labor expenses and contribute directly to the financial tracking of your project.
Pending Timesheets
The Pending Timesheets column displays the sum of timesheets that have been submitted but are still awaiting approval.
These entries represent potential upcoming labor costs. Although they appear in the Budget tab, they are not yet counted as confirmed project expenses.
This visibility helps project managers review labor entries before approval and anticipate upcoming budget changes.
This column allows project managers to anticipate future labor costs and review them before approval.
💡 Tip - Regularly review Pending Timesheets to ensure labor hours are approved on time and reflected accurately in your budget.
Actual Column
The Actual column represents the total confirmed expenses recorded in the project budget.
This value includes:
Approved Bills
Approved Timesheets
Once a timesheet is approved, its calculated labor cost is added to the Actual column, contributing to the overall real cost of the project.
ℹ️ Note - The Actual value allows teams to compare planned budget values with real project costs, helping identify cost overruns early.
Projected Cost Column
The Projected Cost column represents upcoming or expected project expenses that have not yet been finalized.
Submitted timesheets are considered Projected Cost until they are approved. Once a timesheet is approved, its calculated labor cost moves from the Projected Cost column to the Actual column.
Cash vs Accrual Accounting Methods
Buildern also supports two accounting methods that determine how expenses appear in the Actual and Projected Cost columns.
You can switch between these methods by navigating to:
Settings → Finance → General Settings→ Scroll to the bottom of the page.
Cash Method
With the Cash method, expenses are recognized based on the date they are paid or approved.
When a bill is paid or a timesheet is approved, the expense appears in the Actual column.
Before payment or approval, expenses such as bills or submitted timesheets appear in the Projected Cost column.
This method reflects the actual cash flow of the project.
Accrual Method
With the Accrual method, expenses are recognized based on the date they are created, regardless of when they are paid.
Pending bills or timesheets (when the service has already been provided) appear in the Actual column.
Draft items are not counted in any column until they are submitted or moved forward in the workflow.
Keep exploring to discover more Buildern tools that support efficient project management.
Happy Building!