On standard Core reports, it seems that Cost is the factor of hours entered multiplied by the employee’s individual cost rate (Employees screen), and then summed together by project sub-phase. What is the difference between Amount and Cost in standard Core reports?
Cost is calculated as Hours x Cost Rate and represents the costs incurred by the company on any project while as Amount is the total charge amount being budgeted or billed. It is calculated as (Hours x Bill Rate) x [1 + (Tax 1 + Tax 2 + Tax 3)]. Budgeted represents the budgeted services and expenses while as Spent represents the actual services and expenses logged for the project against the contract amount.