Key Features for Effective Cost Management Expense Description: Keep detailed records of project expenses with our intuitive expense description feature. Document each expense item, including descriptions, dates, and categories, for accurate tracking and reporting. Planned Cost: Set clear budget targets and goals with our planned cost functionality. Define budget allocations for different project components or phases, ensuring that your spending stays within predefined limits. Actual Cost: Track actual expenditures against planned budgets in real-time. Easily record actual costs as they occur, providing visibility into project spending and allowing for timely adjustments as needed. Variance Analysis: Identify discrepancies between planned and actual costs with our variance analysis tool. Instantly see where your project is over or under budget, enabling proactive cost management and decision-making. Payment Status: Keep tabs on payment statuses for each expense item. Monitor payment progress, outstanding balances, and due dates to ensure that payments are made on time and budget constraints are met. Projects by Cost: Gain insights into project costs across multiple projects with our Projects by Cost feature. Compare spending trends, analyze cost distributions, and identify areas for cost optimization to drive project profitability.