Developed and maintained by ProWorkstack · Development and review process
Budget trade license renewal fees, training, administration and a reserve using your verified renewal schedule and actual costs.
Your results
Enter your inputs and select Calculate.
How this calculator works
Direct cost = due licenses × (renewal fee + training cost) + shared one-time costs. Administration value = due licenses × administration hours × total hourly cost. Total economic budget = (direct cost + administration value) × (1 + contingency fraction). Monthly reserve = total budget ÷ months available.Worked example
Six due licenses at 150 renewal fee and 100 training cost plus 200 shared costs produce 1,700 direct cost. Six × 1.5 admin hours × 30 = 270 of time value. With 10% contingency, the economic budget is 2,167. Spread across 12 months, the reserve target is 180.58 per month.Assumptions
Defaults illustrate the arithmetic, not market prices or expected performance. Use measured quantities and documented costs. All monetary inputs must use the same currency.Interpreting your results
The tool does not determine legal requirements, fees, eligibility or renewal dates. Use the relevant issuing authority and your own due-date register. The economic budget includes staff time; cash required can differ. A level monthly reserve does not replace a schedule of actual payments.Calculation formulas
- direct
count*(fee+training)+shared- admin
count*admin_hours*rate- total_cost
(direct+admin)*(1+contingency/100)- Total renewal budget, including admin time
total_cost- Monthly reserve target
total_cost/months- Fees and training before extra budget allowance
direct- Admin time value before extra budget allowance
admin- Extra budget allowance
(direct+admin)*contingency/100
Frequently asked questions
Can I use a different currency?
Yes. Choose your currency and enter every monetary amount in that currency. No exchange-rate conversion is performed.
Where should my assumptions come from?
Use your own matched operational records, invoices, agreements and measured task times. The worked example explains the calculation and is not a benchmark.
Maintained by ProWorkstack · Last reviewed: 2026-10-04 · Development and review process