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Step 1: Creating an account

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If your project already has issues, you can edit them to ensure that they are associated to the appropriate account and have time estimates.

Step 2: Creating a folio

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Now that you have set up your project and your accounts, you are ready to start using Budgets! When working with Budgets, the first step is to create a folio. A folio is aBudgets project that lets you define a financial plan, a scope, and a time frame for your Jira project. Folios can be associated with any number of Jira projects.

Create a new folio and use your Jira project to define the scope, and select to track Cost & Revenue. Give the folio a name (e.g. 'project_name folio'), select USD as the currency,  and pick a start and end date for the folio.

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Step 4: Planning expenses for your folio

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Along with the salary forecast, you need to plan for other expenses such as travel costs, software licenses, training, etc. 

Plan some expenses that are related to your project and classify them by category and type.

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With your planned costs approved, you can plan the revenues you expect the folio will generate. In this step you will plan consulting revenue from four full-time consultants. Assign them the Member role, the planned effort should be 100%, with a price rate of $95.00/hr. Select From and To dates to match the folio start and end dates.

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Step 7: Adding staff to your folio

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When you are ready to proceed with your folio, you can add the people who are working on the project to your folio. Be sure to check that the people are available by going to the Resource Planning overview in Tempo Planner. Filter by role and find out who is available (4 full-time + 1 day). Now go back to your folio to add your staff. Use folio's start and end dates and set the availability to 100%. Because you are using global user rates, the Cost Rate is fixed.

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Step 9: Logging non-billable hours for the staff

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Worked hours are hours that were spent working on the folio's scope by folio members. The worked hours will be included in costs and revenues. Navigate to Tempo Timesheets and log non-billable hours for your staff on project issues that are linked to your OPEX account. Make sure that the Billable field has 0h. Repeat for each member of your folio. 

When you go back to your folio, you will see the logged hours in the Actual Costs. 

The Actual Revenue, on the other hand, is still 0.

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Step 10: Logging billable hours for the staff

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The folio's Report tab offers several reports where you can visualize, analyze, extract, and export data in many ways. Go to the Report tab and play around with the following reports:

1. Forecast Report
2. Issue Costs Report
3. Expenses / Revenue Report
4. Steering Committee Report

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