ProjectsUpdated
Project profit
See the hours, budget, revenue, cost and margin on a project, set the rates behind them, and spot projects that are over budget or over their hours.
Every project keeps a running count of the hours logged on it, what that work is worth, what it cost you and the margin left. Use it to catch a project before it goes over.
Before you start
- Turn on the Time tracking module. Profit is worked out from the hours logged on the project. See Turn modules on and off.
- Set your team's rates. Owners and admins go to Settings > Members and fill in each person's Bill rate and Cost rate.
Things to know
- Only owners and admins see cost and margin. Other members see a dash.
- An hour is valued at the rate on the entry, then the project's Bill rate (per hour), then the person's own bill rate.
- Cost is each hour times the person's cost rate, plus expenses booked against the project.
- If someone has no cost rate, margin shows a dash with Cost unknown · set cost rates.
See a project's numbers
Open the project's full page. The highlight cards at the top show:
| Card | What it shows |
|---|---|
| Hours | Hours logged, against Hours sold if you set it, and how many are left or over |
| Budget | The work's value plus expenses, against the Budget. With no budget it reads Spent so far |
| Unbilled | Billable work not on an invoice yet, and how old the oldest is |
| Margin | The margin as a percent, against your target |
Cards turn amber when a project is close to its budget or hours, and red when it's over.
See revenue and cost in detail
- Go to CRM > Projects and click the project to open it at the side.
- Scroll to Profit.
Profit lists Revenue, Cost, Margin, Hours, Eff. rate and Unbilled hours for the life of the project. Revenue here counts invoices that have been sent, not drafts.
Set a target margin
- Go to Settings > Revenue.
- Under Target margin, type a percent next to Projects aim for.
A project's Margin card turns amber under this target and red well under it.
Find projects that are over
Go to CRM > Projects and click the Overview tab. Over budget and Over hours count the active projects that have gone past their budget or their hours sold. Hours by project shows where the team's time goes.