In project tasks, what is the difference between budgeted and actual?

Project tasks feature budgeted and actual fields for both time and expense entry. The budgeted value should be the amount (of time or money) the project manager forecasts for a project task. As actual work is done on a task, values are added to the actual fields. Having both allows you to compare how close you are to hitting or exceeding your budgeted time or expenses. Keeping on top of budgets vs. actuals is one of the key roles played by project managers.