What it is
Budgets fail when hours, price and dates are worked out in three places. This workbook ties them together: hours by phase and level become a standard fee, the standard fee is compared with the proposed fee, and the phases are laid on a calendar against the report release date.
It shows realization at the proposed fee, the blended and effective hourly rates, the fee needed to reach your target realization, hours per calendar week by phase, overlaps and float. A worked example with illustrative numbers and live formulas sits on the Instructions sheet.
When to use it
- Pricing a proposal before the engagement letter goes out.
- Setting the engagement budget at planning and loading it into the time system.
- Checking that a compressed timetable is realistic for the hours budgeted.
What’s inside
- Rates sheet for levels, standard rates and target realization
- Budget: eight phases by five levels, fee by phase and by level with a tie-out
- Fee comparison: realization, blended rate, effective rate, fee needed for target
- Timeline: dates, calendar days, hours per week, overlap and float checks
- Worked example on the Instructions sheet
Standard cited
This template follows AU-C 300 (planning); firm practice. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use. See AU-C 300 explained.
Questions
What is realization?
The fee divided by the standard value of the hours at your standard rates. The workbook computes it for the proposed fee and shows the gap to your target.
Why does fee by level have to equal fee by phase?
They are the same total built two ways: row by row and column by column. If they differ, a formula range has been broken. The sheet shows a red check.
How should hours be split by level?
Use the history of similar engagements. Partner hours at planning, review and reporting; manager hours at review; staff hours at fieldwork. Check the share-of-hours row against your usual mix.
What does negative float mean?
The last phase ends after the target report release date. Shorten a phase, start earlier, add staff or move the target.
Related templates
- Time and Budget Variance Workbook (Excel)
- CPA Fee Proposal Letter
- Engagement Kickoff Checklist
- Busy-Season Capacity Planner (Excel)
Last updated 11/05/2026. All free templates.