How Budgets Work

The Clerk Budgets app tracks budgets based on data from other Clerk apps. Please install at least one application from the list below so that Clerk Budgets can work properly:

• Clerk Invoices
• Clerk Quotes

Here’s a general outline of how budgets work:

• Any invoice or quote from the external app can add to the budget or spend it.
• You can set a static budget amount as well. Invoices or quotes that add to the budget will be summarized with this static budget.
• Each invoice or quote could be linked to multiple budgets with different modes (spend/add)
• Money and time budgets could be tracked independently for each budget
• Each budget has its own currency. Only invoices and quotes in that currency will affect the project budget.
• There are Regular and Retainer budgets. Retainer budgets will add Retainer Withdrawals records to each invoice or quote that spends the budget. Retainer withdrawals will use the budget balance to cover the invoiced or quoted amount until the budget balance is spent.

Other articles in this section will reveal more detailed information about Clerk Budgets.