Select “Set Budget…” under the Time menu, click on the Budget button in the Tool Bar, or click on the budgets to bring up the Budget window.  The budgets you set are for the current document only.

Enter a charge amount and/or an elapsed time amount to set the budget.
Choose whether or not you want the budget calculated using all time records or just marked time records, and also the display options.

After setting up the budget, the budget values are displayed at the bottom of the TimeSlice document.  See the example below.  The budget, status bar, and percentage are updated continuously.

If the charge or elapsed time goes over budget, the budget amount and percentage fields are highlighted.