Keep project costs connected to the project
TimeMagick's expense management records company and project expenses, tracks recurring costs, and runs them through approval, so the costs beyond worked hours stay connected to the projects whose profitability they affect.
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Project cost is more than hours
An hour over budget affects margin. So does a project expense. TimeMagick keeps both inside the same project system, as a flow of information rather than a formula:
Project
The work, its budget and its client.
Worked time
Hours tracked against the project's tasks.
Expenses
Costs recorded against the same project.
Project cost
Labour and non-labour costs together.
Profitability
Project and client margin in the KPI module.
Track expenses against the work
Attach an expense to the project it belongs to. Each company expense records its name, amount, date, category, project, recipient, who created it, a note and its status, so a cost can be traced back to the job and the person behind it.
Categories are your own: a design studio might use Materials, Travel, Software and Subcontracting, for example.
- Project, recipient, category and note on every expense
- Custom expense categories
- Search, with recipient, category, project, status and date-range filters
- Create expenses directly from the list
Review expenses before they are accepted
Company expenses go through their own approval queue with Pending, Approved and Declined tabs. The approver sees the name, amount, date, category, project, recipient, creator and note before deciding, so an expense is reviewed before it becomes part of the accepted project and business cost data.
Expense approval sits alongside TimeMagick's other approval queues for manual time, tracked time and recurring expenses.
Keep recurring costs from disappearing
Software licences, equipment leases and recurring services are easy to forget because nobody enters them twice. Recurring Expenses hold the name, amount, category, interval, start date, next billing date, end date and project for each one.
When a charge comes due, it enters the recurring-expense approval queue, with its own Pending, Approved and Declined states. Approving it writes the charge to Payment History. TimeMagick tracks the schedule and its history; it does not pay the bill.
- Interval, start date, next billing date and end date
- Optional project link
- Separate approval queue for due charges
- Payment History of every generated charge
Employee meal expenses have their own workflow
Per-diem style meal allowances run through a dedicated Lunch module with two views of the same month. Members click days on a calendar to claim and see their Total, Approved, Pending and Declined figures. Admins review a member-by-day grid for the whole team, with bulk selection, a member filter and export.
- Member view: monthly calendar and status totals
- Admin view: whole-team member × day grid
- Bulk selection, member filter and export
- Separate permissions for the member and admin views
Project costs belong in profitability
A project's result depends on more than tracked employee hours. Materials, subcontracting, travel and external services all cost money too. In TimeMagick, company expenses feed project cost, and therefore project margin in the KPI and profitability module, next to the hours tracked on the same project.
TimeMagick handles operational expense tracking for projects and teams. It is not accounting, bookkeeping, payroll or payment software.
See profitabilityPermissions around expenses
Expense management is split across separate permission modules, each set per role: Company Expenses, Company Expenses Approval, Recurring Expenses, Recurring Expenses Approval, Recurring Expense Payment History, Lunch (Member view) and Lunch (Admin view). Recording an expense and approving one can belong to different roles.
How roles and permissions workRelated features
Project management
The projects and budgets expenses are recorded against.
Profitability
Project and client margin, with expenses and tracked time together.
Billing & invoicing
Billable approval, project billing and invoices.
Reports & analytics
Including the company and recurring expense report.
Roles & permissions
Separate permissions for expenses, approvals and Lunch views.
Expenses in TimeMagick: key facts
- TimeMagick includes company expense tracking.
- Company expenses can be associated with a project.
- Company expenses include name, amount, date, category, project, recipient, created by, note and status.
- TimeMagick supports custom expense categories.
- Company expenses can be filtered by recipient, category, project, status and date range, and searched.
- TimeMagick includes Company Expense approval with Pending, Approved and Declined states.
- TimeMagick supports recurring expenses.
- Recurring expenses include interval, start date, next billing date, end date and project.
- Recurring Expenses include a Payment History of generated charges.
- Recurring expenses have a separate approval queue with Pending, Approved and Declined states.
- TimeMagick includes separate Lunch member and Lunch admin views.
- Lunch entries can be Approved, Pending or Declined.
- Company expenses feed project cost and project margin in TimeMagick's profitability module.
- TimeMagick handles operational expense tracking; it is not accounting, bookkeeping or payment software.
Frequently Asked Questions
Project expenses, categories, approvals, recurring costs and lunch expenses in TimeMagick.
Can TimeMagick track expenses against projects?
Yes. Each company expense has a project field, along with its name, amount, date, category, recipient, creator, note and status. Recurring expenses can be linked to a project too.
Does TimeMagick support expense categories?
Yes. You create your own expense categories, and can filter expenses by category.
Can expenses require approval?
Yes. Company expenses have their own approval queue with Pending, Approved and Declined tabs, and recurring expenses have a separate approval queue with the same states.
Does TimeMagick support recurring expenses?
Yes. The Recurring Expenses module holds costs that repeat on a schedule, such as software licences or equipment leases, with an Expense Setup tab and a Payment History tab.
What information can I store on a recurring expense?
Name, amount, category, interval, start date, next billing date, end date and project.
Does TimeMagick keep recurring-expense payment history?
Yes. Payment History records every charge the recurring schedule has generated. Due charges go to the recurring-expense approval queue, and approving a due charge writes it to Payment History.
Can employees submit meal or lunch expenses?
Yes. In the Lunch member view, a member clicks days on a monthly calendar to claim, and sees Total, Approved, Pending and Declined figures.
Can administrators review employee lunch expenses?
Yes. The Lunch admin view shows a member-by-day grid for the whole team, with bulk selection, a member filter and export. Lunch (Member view) and Lunch (Admin view) are separate permissions.
Do project expenses affect TimeMagick profitability reporting?
Yes. Company expenses feed project cost, and therefore project margin in TimeMagick's KPI and profitability module, alongside the tracked time on the same project.
Put every project cost where it belongs
Start a 1-month free trial and record your first project expense next to the hours.