{"id":1354,"date":"2026-07-30T18:48:49","date_gmt":"2026-07-30T13:18:49","guid":{"rendered":"https:\/\/www.teamtrace.app\/blog\/?p=1354"},"modified":"2026-08-05T17:53:31","modified_gmt":"2026-08-05T12:23:31","slug":"june-update-2026","status":"publish","type":"post","link":"https:\/\/www.teamtrace.app\/blog\/june-update-2026\/","title":{"rendered":"TeamTrace\u00a0\u2013 June 2026 Feature Updates\u00a0"},"content":{"rendered":"\n

Budget\u00a0<\/h2>\n\n\n\n

Fixed Fee Budget <\/h3>\n\n\n\n

TeamTrace now supports project budgeting. Within any project\/project types (Kanban or Scrum), administrators and managers can configure budgets, track expenditure, and monitor financial performance against set targets. <\/p>\n\n\n\n

Note: A <\/em><\/strong>budget cannot be started before its set Start Date.<\/em> <\/p>\n\n\n\n

Navigation: <\/strong>Project \u2192 Select Any Project \u2192 Budget \u2192 Budget List<\/em> <\/p>\n\n\n\n

Step 1: Set Team Member Rates\u00a0<\/strong><\/p>\n\n\n\n

Before adding a budget, you must configure the billable rate\/hr for at least one person. <\/p>\n\n\n\n

Click <\/strong>+ Set Team Member Rate and enter the following for each team member: <\/p>\n\n\n\n

    \n
  1. Billable Rate\/hr:\u00a0<\/strong>The rate charged to the client for each hour worked.\u00a0<\/li>\n<\/ol>\n\n\n\n
      \n
    1. Cost Rate\/hr:\u00a0<\/strong>The internal cost incurred for each hour worked.\u00a0<\/li>\n<\/ol>\n\n\n\n

      Note<\/em><\/strong>:<\/em> The project currency selected during project creation will be displayed here.<\/em> <\/p>\n\n\n\n

      Note:<\/em><\/strong>\u00a0The\u00a0<\/em>People Cost Rate\/Hour<\/em><\/strong>\u00a0defined during project creation is used as the default\u00a0<\/em>Cost Rate\/Hour<\/em><\/strong>\u00a0for that user in all budgets under the project.<\/em>\u00a0<\/p>\n\n\n

      \n
      \"\"<\/figure><\/div>\n\n\n

      Note:<\/em><\/strong>\u00a0While creating a budget, you can set the\u00a0<\/em>Cost Rate\/Hour<\/em><\/strong>\u00a0for each team member. Any updates made to these rates will automatically be reflected when editing the user’s\u00a0<\/em>Cost Rate\/Hour<\/em><\/strong>\u00a0from the\u00a0<\/em>Project Creation<\/em><\/strong>\u00a0screen.<\/em>\u00a0<\/p>\n\n\n\n

      Step 2: Add a Budget<\/strong> <\/p>\n\n\n\n

      Once team member rates are configured, click + Add Budget to proceed. <\/p>\n\n\n

      \n
      \"\"<\/figure><\/div>\n\n\n

      Under Budget Type<\/strong>, select Fixed Fee<\/strong>. <\/p>\n\n\n\n

      Fill in the following fields: <\/p>\n\n\n\n

        \n
      1. Budget Name\u00a0<\/li>\n<\/ol>\n\n\n\n
          \n
        1. Currency\u00a0<\/li>\n<\/ol>\n\n\n\n
            \n
          1. Budget Amount\u00a0<\/li>\n<\/ol>\n\n\n\n
              \n
            1. Start Date\u00a0<\/li>\n<\/ol>\n\n\n\n
                \n
              1. End Date\u00a0<\/li>\n<\/ol>\n\n\n\n

                Step 3: Set Financial Targets (Optional)<\/strong> <\/p>\n\n\n\n

                You can define profitability targets for the project by enabling the Set Financial Targets option. <\/p>\n\n\n\n

                Enter the desired Profit Margin<\/strong>. The Target Profit<\/strong> and Target Cost<\/strong> will be calculated automatically. <\/p>\n\n\n\n

                Once all required fields are completed, click Create Budget to save the budget to your project. <\/p>\n\n\n

                \n
                \"\"<\/figure><\/div>\n\n\n

                Step 4: Start the Budget<\/strong> <\/p>\n\n\n\n

                After the budget is created, it will appear in the Budget List. To activate it: <\/p>\n\n\n\n

                Click the three-dot menu<\/strong> on the right side of the budget entry and select Start Budget<\/strong>. <\/p>\n\n\n\n

                You may also review or update team member rates at this stage. Rates entered in INR will be dynamically converted to the project’s budget currency (e.g., USD) based on the prevailing INR-to-USD exchange rate at the time. <\/p>\n\n\n\n

                Step 5: View the Budget Dashboard<\/strong> <\/p>\n\n\n\n

                Click on the budget entry to open its dashboard. The dashboard displays the following: <\/p>\n\n\n\n

                  \n
                1. Budget Overview\u00a0<\/li>\n<\/ol>\n\n\n\n
                    \n
                  1. Total Budget\u00a0<\/li>\n<\/ol>\n\n\n\n
                      \n
                    1. Used Budget\u00a0<\/li>\n<\/ol>\n\n\n\n
                        \n
                      1. Remaining Budget\u00a0<\/li>\n<\/ol>\n\n\n\n
                          \n
                        1. Profitability\u00a0<\/li>\n<\/ol>\n\n\n
                          \n
                          \"\"<\/figure><\/div>\n\n\n

                          Budget Tabs\u00a0<\/h3>\n\n\n\n
                            \n
                          • Time Logs<\/strong>\u00a0\u2014 Displays billable hours for team members who have activated the\u00a0TeamTrace\u00a0activity tracker for this project.\u00a0<\/li>\n<\/ul>\n\n\n\n
                              \n
                            • Rate<\/strong>\u00a0\u2014 Shows the billing and cost rates configured for each team member.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n
                              \n
                              \"\"<\/figure><\/div>\n\n\n

                              Adding Expenses<\/strong> <\/h3>\n\n\n\n

                              Click + Add Expense<\/strong> and fill in the following fields: <\/p>\n\n\n\n

                                \n
                              • Title:\u00a0A brief label for the expense.\u00a0<\/li>\n<\/ul>\n\n\n\n
                                  \n
                                • Expense Type:\u00a0Select either One-Time or Recurring.\u00a0<\/li>\n<\/ul>\n\n\n\n
                                    \n
                                  • Date\u00a0<\/li>\n<\/ul>\n\n\n\n
                                      \n
                                    • Currency\u00a0<\/li>\n<\/ul>\n\n\n\n
                                        \n
                                      • Amount\u00a0<\/li>\n<\/ul>\n\n\n\n
                                          \n
                                        • Description\u00a0<\/li>\n<\/ul>\n\n\n\n

                                          One-Time Expense:\u00a0<\/strong>A single deduction is made from the total budget.\u00a0.<\/p>\n\n\n

                                          \n
                                          \"\"<\/figure><\/div>\n\n\n

                                          Recurring Expense: <\/strong>You will be prompted to set the recurrence frequency \u2014 Weekly, Monthly, Yearly, or a Custom Date. You must also specify a Start Date and End Date for the recurring cycle. <\/p>\n\n\n\n

                                          Once added, the expense entry will appear in both the Expense tab and the Budget Dashboard. <\/p>\n\n\n\n

                                          Note: <\/em><\/strong>Only admins, managers, or users with the appropriate permissions can view budget data. Two budgets cannot have overlapping date ranges. Each budget must have a distinct Start Date and End Date.<\/em> <\/p>\n\n\n\n

                                          Time & Material Budget <\/h3>\n\n\n\n

                                          The team member rate configuration for Time & Material budgets follows the same process described in the Fixed Fee section above. <\/p>\n\n\n\n

                                          Note: A <\/em><\/strong>budget cannot be started before its set Start Date.<\/em> <\/p>\n\n\n\n

                                          Navigation: <\/strong>Project \u2192 Select Any Project \u2192 Budget \u2192 + Add Budget<\/em> <\/p>\n\n\n\n

                                          Step 1: Add a Budget<\/strong> <\/p>\n\n\n\n

                                          Click + Add Budget<\/strong> and select Time & Materials<\/strong> as the Budget Type. <\/p>\n\n\n\n

                                          Fill in the following fields: <\/p>\n\n\n\n

                                            \n
                                          • Budget Name\u00a0<\/li>\n<\/ul>\n\n\n\n
                                              \n
                                            • Currency\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                \n
                                              • Budget Amount\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                  \n
                                                • Budget Repeats\u00a0(if applicable)\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                    \n
                                                  • Time Log Approval\u00a0(see Scenarios below)\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                      \n
                                                    • Start Date\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                        \n
                                                      • End Date\u00a0<\/li>\n<\/ul>\n\n\n\n

                                                        You may also set a Default Billable Rate that will apply across this budget. <\/p>\n\n\n\n

                                                        Click Create Budget. You will have the option to set or review team member rates after creation. <\/p>\n\n\n\n

                                                        Time Log Approval Scenarios<\/strong> <\/h3>\n\n\n\n

                                                        Scenario 1: All Times Are Auto Approved<\/strong> <\/p>\n\n\n\n

                                                        All time logs are automatically approved when a user records their time.  <\/p>\n\n\n\n

                                                        The default billable rate set for the budget will be reflected in the dashboard.\u00a0\u00a0<\/p>\n\n\n\n

                                                        Time logs will be marked as auto\u00a0billable,\u00a0and no manual approval action is\u00a0required.\u00a0<\/p>\n\n\n\n

                                                        Scenario 2: Billable Times Are Manually Approved<\/strong> <\/p>\n\n\n\n

                                                        Admins or managers must manually approve time logs submitted by users.  <\/p>\n\n\n\n

                                                        Approval can only be performed after the close of the working day \u2014 not before.  <\/p>\n\n\n\n

                                                        In the Time Logs tab, entries will display a Pending status until the day ends, and approval is actioned. <\/p>\n\n\n\n

                                                        The Dashboard, Rate, and Expense tabs function identically to those described in the Fixed Fee Budget section above. <\/p>\n\n\n\n

                                                        2. Setting Leave Types\u00a0<\/h2>\n\n\n\n

                                                        TeamTrace now allows organizations to entitle leaves on a monthly basis. This feature is available under the Entitlement tab after creating a leave type.  <\/p>\n\n\n\n

                                                        Entitlement Tab <\/h3>\n\n\n\n

                                                        This section determines how a leave is entitled to an employee. Previously, leaves were applicable via Yearly option only. Now it can be set to Monthly<\/strong>, which means entitlement is granted on a per-month cadence (and activates the Monthly Entitlement<\/em> section below). <\/p>\n\n\n

                                                        \n
                                                        \"\"<\/figure><\/div>\n\n\n

                                                        Pro rata & accrual controls <\/p>\n\n\n\n

                                                          \n
                                                        • Enabled pro rata<\/strong>\u00a0\u2014 When checked, entitlement is calculated proportionally for partial periods:\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                            \n
                                                          • Round Up<\/strong>\u00a0\u2014 fractional entitlement is rounded up to the next whole unit (most generous to the employee).\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                              \n
                                                            • Normal Rounding<\/strong>\u00a0\u2014 standard mathematical rounding (fractions of 0.5 and above round up, below 0.5 round down).\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                                \n
                                                              • Round Down<\/strong>\u00a0\u2014 fractional entitlement is rounded down to the nearest whole unit (most conservative).\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                                  \n
                                                                • Cross year leave<\/strong>\u00a0\u2014 Governs leave behavior across the year boundary.\u00a0<\/li>\n<\/ul>\n\n\n\n

                                                                  Monthly Entitlement <\/h3>\n\n\n\n
                                                                    \n
                                                                  • Monthly Entitlement Qty<\/strong>\u00a0\u2014 The number of leave units credited per month under Monthly mode. Mandatory because the mode is set to Monthly.\u00a0<\/li>\n<\/ul>\n\n\n
                                                                    \n
                                                                    \"\"<\/figure><\/div>\n\n\n
                                                                      \n
                                                                    • Auto lapse enabled<\/strong>\u00a0\u2014 When checked,\u00a0accrued-but-unused leave automatically lapses\/expires at the end of the applicable period.\u00a0<\/li>\n<\/ul>\n\n\n\n
                                                                        \n
                                                                      • Allow advance booking<\/strong>\u00a0\u2014 When checked, employees can apply for leave against entitlement not yet\u00a0accrued\u00a0\u2014\u00a0i.e.\u00a0booking future\u00a0monthly\u00a0leaves\u00a0ahead of the balance\u00a0actually being\u00a0credited.\u00a0<\/li>\n<\/ul>\n\n\n\n

                                                                        3. Consolidated Timesheet\u00a0<\/h2>\n\n\n\n
                                                                          <\/ol>\n\n\n\n

                                                                          A consolidated timesheet covering both TeamTrace and FieldTrace is now available for admins and managers, showing active hours alongside punch-in and punch-out times. <\/p>\n\n\n

                                                                          \n
                                                                          \"\"<\/figure><\/div>\n\n\n

                                                                          Navigate to Analytics > Others > Consolidated Timesheet. <\/p>\n","protected":false},"excerpt":{"rendered":"Budget\u00a0 Fixed Fee Budget  TeamTrace now supports project budgeting. Within any project\/project types (Kanban or Scrum), administrators and managers can configure budgets, track expenditure, and monitor financial performance against set targets.  Note: A budget cannot be started before its set Start Date.  Navigation: Project \u2192 Select Any Project \u2192 Budget \u2192 Budget List  Step 1: Set Team Member Rates\u00a0 Before adding a […]","protected":false},"author":2,"featured_media":1358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates"],"acf":[],"yoast_head":"\nTeamTrace\u00a0\u2013 June 2026 Feature Updates\u00a0 - Teamtrace - Insights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.teamtrace.app\/blog\/june-update-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TeamTrace\u00a0\u2013 June 2026 Feature Updates\u00a0 - Teamtrace - Insights\" \/>\n<meta property=\"og:description\" content=\"Budget\u00a0 Fixed Fee Budget  TeamTrace now supports project budgeting. 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