Budget vs Actual by Contract report
Track each contract or grant budget in WiseCost: logged hours, approved hours and actual QuickBooks dollars, limited to its period of performance.
The Budget vs Actual by Contract report in WiseCost compares each contract or award against its ceiling. Run it from Reports → New Report → Budget vs Actual by Contract. For every Class or Project with a budget, it shows hours logged, hours approved and actual dollars from QuickBooks Online, limited to that contract's period of performance.
Who can do this: an Administrator.
It is the central report for nonprofits and grant recipients tracking a federal award's budget, and it works the same way for a contractor watching a contract's funding ceiling.
Before you start
A contract appears in the report only if it has a budget. Set the Budget (hours, dollars or both) and the Period in Company Setup → Classes or Company Setup → Projects. See Contract budgets and period of performance.
Run the report
- Go to Reports → New Report and click Budget vs Actual by Contract.
- Run it. There is no date range to choose.
How to read it
For each contract:
- Logged hours: everything recorded so far.
- Approved hours: the part that has been approved.
- Actual dollars: real amounts taken from QuickBooks Online.
All three are limited to the contract's own period of performance. A contract with no period shows its lifetime totals. That is why the report has no date range: each award is measured against its own dates.
Download
Excel, with a tab of the transactions behind the dollars. This report has no PDF. It is also saved in Report History.
Common questions
How do I track a grant's budget vs actual hours and dollars?
Give the award's Class or Project a budget and a period of performance, then run this report.
A contract is missing from the report. Why?
It has no budget configured. Add a ceiling in hours or dollars on its row in Company Setup → Classes or Company Setup → Projects.
Why can't I choose dates?
Each contract is measured over its own period of performance, not over a common date range.