Hi everyone,

It's been a busy Summer for us. We've shipped a major upgrade to how Operating handles cost and currency, released a much-requested cost-capping feature, and cleared out a long list of fixes and smaller improvements. Here's what's new.

Cost capping is here

You can now cap a person's cost to the hours they're actually contracted to work. If someone logs a 12-hour day, their cost no longer balloons past what they're really paid for — Operating caps it to their working hours and attributes the cost sensibly across their projects.

You control how it works, per site:

• Cap by day, week, or month — whichever matches how you think about capacity.

• Choose how capped cost is attributed — spread proportionally across the day's entries, or prioritise billable work first.

When capping is on, time-entry lists show a dedicated capped-hours column so you can always see where a cost came from. Cost rates and revenue recognition both respect the cap automatically.

This is live for everyone now — but you have to enable it under Settings → Organization → Site. For the full details on how caps and attribution are calculated, see How cost capping works.

Faster, more accurate financial reporting, time-gated fx rates

We've rebuilt how Operating handles currency under the hood, and you'll feel it in your reports.

Previously, Operating converted currencies on the fly every time you opened a report, using a single exchange rate. Now, amounts are stored in both the project's currency and your organisation's default currency, using the exchange rate that applied at the time — so historical numbers stay correct even as exchange rates fluctuate, and reports load faster.

A few things this unlocks:

• A currency selector on reports. If your organisation works in more than one currency, you can now switch a report between your default currency and the project's own currency.

• Historically accurate figures. Change or correct an exchange rate and your past numbers reflect the rate that was actually in effect — no more retroactive drift.

• Costs shown in their original currency in planned and actual expense lists, while totals still roll up cleanly into the project currency.

Export Planned vs Actuals to CSV

The Planned vs Actuals report — for both projects and people — now has a CSV export, including optional person, project, and task breakdowns. Pull the exact view you're looking at straight into a spreadsheet for your own analysis. This brings PvA in line with the portfolio and capacity reports, which already supported export.

Smarter forecasting

Forecasting in reports now calculates progress based on absolute completion — each period's completion is measured as cumulative forecasted cost against the project's total forecasted cost, relative to your chosen cutoff date. The result is a forecast that behaves more predictably as projects move through their lifecycle. Not sure which method fits your project? How to choose a fixed-price forecast method walks through the options.

Time balance (flex time) makes much more sense now

We fixed a calculation issue where the Time Balance popover's breakdown rows didn't add up to the balance shown beneath them — a cached balance stamp was being double-counted in some cases, so the figures now reconcile exactly. We’re reaching out to everyone affected by this.

We also moved balance recalculation onto a background job, so when someone logs hours against a future date, their balance updates automatically once that date arrives rather than lagging behind. The new visualization is pretty cool way to see how much you’ve worked over time:

Find this graph by clicking on anyone’s time balance pill – for example your own, on top of the Hours UI. Please note that following Time Balance needs to be enabled for your organization in order to see it.

For teams using the API

• Pagination on reporting endpoints. Reporting APIs now support pagination for more reliable, scalable data pulls.

• New currency endpoints. You can now read your currencies and manage exchange rates directly over the REST API.

• Historical imports made easier. You can now create time entries against archived positions via the API, so backfilling past data no longer trips over archived records.

Also fixed & improved

• Part-time indicator cleaned up — the clock icon now only appears for people who are currently on individual working hours, not those who were in the past.

• Un-archive project tasks directly from the project edit dialog.

• Un-invoice time entries — If a time entry was manually marked as invoiced by mistake, you can now undo it. Select the entries in the multi-edit dialog and clear the invoiced status — no need to contact us to correct it for you.

• Revenue recognition correctness — several fixes so tentative fixed-price projects, exchange-rate changes, and edge-case time entries all report revenue accurately. For a refresher on how revenue is earned, forecasted, and corrected (including negative corrections), see How Operating calculates earned and forecasted revenue.

• Reporting fixes — Planned vs Actuals now sorts and displays planned hours correctly across all views.

• UI polish — corrected off-screen selectors when reporting hours, tab layouts on projects with many positions, timeline labels, and various alignment and spacing issues across reporting screens.

Slight changes in fonts and colors ahead of our new look

• Expect small changes in the way the app looks and feels this week and before September. The extent of changes for now is such that you don’t need to worry about your user instructions (or our support site, for that matter) to get outdated.

• We’re rolling out a proper rebrand in September, can’t wait to show it to you!