Project Budgeting Tool

Enter the project name and total budget, then add each cost with a category, description, and estimate. Update actual costs as invoices or receipts become available. Keep all entries in the same currency and decide whether every amount includes tax so the totals are comparable.

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BUDGET, ESTIMATE, AND ACTUAL COST

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The budget is the overall spending limit you enter. Estimated costs describe what you expect each item to cost; actual costs describe spending recorded so far. These are different views of the project. A low actual total early in the project does not mean the remaining work will be free.

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WORKED EXAMPLE

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Suppose the budget is $5,000. Materials are estimated at $2,000 and labour at $2,500, giving a total estimate of $4,500 and a $500 gap to the budget. If recorded actual spending later reaches $4,600, the remaining budget is $400. That amount still needs to cover any unpaid or unrecorded costs.

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CHECK THE SCOPE OF EACH LINE

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Separate materials, labour, delivery, permits, taxes, and other relevant costs. Avoid counting a deposit and the full invoice as two separate costs unless the invoice entry excludes the deposit. Record allowances consistently, and identify estimates that have not yet become confirmed prices.

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Review the difference between estimated and actual costs to see which items changed. For a realistic forecast, consider recorded spending together with the cost of unfinished work. This tool totals your entries; it does not verify quotations or forecast future price changes. Export a CSV to retain a snapshot and update the plan as the project progresses.