The Project Profitability Forecast report is designed to give you an advanced view of your project's financial performance by not only considering the tracked time to date but also projecting future billable amounts based on your task estimates.
This report helps you better understand the expected profitability and margins of your projects, allowing for more informed financial decisions and project management.
Report Structure
The Project Profitability Forecast report is divided into several key sections:
Billable Total To Date — The sum of all billable amounts from time entries of the project to date.
Forecasted Billable Total — Sum together:
Billable Amount from time entries without associated tasks: The total billable amount of time entries that are not linked to any tasks.
Billable Amount from completed tasks: The total billable amount of time entries linked to completed tasks.
Estimated Billable Amount from open tasks: This is calculated as the time estimates from open tasks multiplied by the billable rate.
Note: The billable rate used is determined by the project settings (either the project billable rate or the default billable rate of members). If no rate is set, the rate defaults to $0.
Costs To Date — Sum together:
Labor Cost to date: The total labor cost incurred so far on the project.
Non-billable project expenses: All expenses related to the project that are not billable.
Forecasted Total Costs — Sum together:
Forecasted Labor Cost: This includes:
Time tracked on time entries without associated tasks multiplied by the cost rate of the time entry assignee (if available).
Time tracked on completed tasks multiplied by the cost rate of the time entry assignee (if available).
Time estimates on open tasks multiplied by the cost rate of the assignee (if available). If time tracked on a task is superior to the time estimate, then we use time tracked instead.
Non-billable project expenses: All expenses related to the project that are not billable.
Forecasted Profit
Forecasted Billable Total minus Forecasted Total Costs.
Forecasted Margin
Forecasted Profit divided by Forecasted Billable Total multiplied by 100.
Feel free to reach out to our support team if you have any questions or need further assistance with this feature.