Project profit & loss (detail view) [report]
Menu > Reports > Financial reports > Project profit & loss (detail view)
Shows profitability for a specific project with breakdowns by GL account and may include overhead allocation.
How it works
The profitability by project report is different from the company profitability reports in that it includes an overhead allocation from the GL. It is based upon posted GL transactions and is not intended to tie to the budget analysis reports which are based upon actual transactions. The overhead allocation includes any transactions entered against expense accounts that are not associated with a client. Any entry tied to a client specified as an overhead client will be included in the overhead calculation and these clients will not show up in the profitability reporting.
NOTE: GL company considerations: If a specific GL company is NOT selected prior to running the client/project P&L reports, the overhead pool will consist of all overhead transactions from all GL companies. When you specify a GL company prior to running the reports, only overhead transactions for that specific GL company will be used to calculate the overhead pool amount.
Search Criteria
Allocate overhead - Your choices are "hours, labor cost, total bill, none".
-
Hours: Total approved hours entered against specified client projects / total approved hours entered for agency = pct to allocate
NOTE: approved hours entered against overhead client projects are not included in the total approved hours entered for an agency. - Labor cost: (total approved hours entered against specified client projects * standard hourly cost from employee) / (total approved hours * standard hourly cost from employee) = pct to allocate.
- Total bill: Total revenue entered against specified client / total revenue for agency = pct to allocate.
- None: Allocate no overhead. You can then refer to the overhead allocations detail report separately for this data.
Date range - Pulls only transactions (time & expenses) within the set date range.
GL company (if enabled) - Limits data to transactions on projects set to a specific GL company.
Company type - Limits data to projects set to a specific company type.
Office (if enabled) - Limits data to projects set to a specific office
Project type - Limits data to projects set to a specific project type(s)
Project Status - Limits data to projects set to a specific project status(es)
Parent Company - Pulls the data of multiple child companies based on who the single parent company is.
Client - Limits data to projects set to a specific client(s)
Campaign - Limits data to projects set to a specific campaign
Division - Limits data to projects set to a specific division
Product - Limits data to projects set to a specific product
Account manager - Limits data to projects with a specific account manager.
Project manager - Limits data to projects with a specific project manager
Salesperson - Limits data to projects with a specific salesperson
Subtract all costs before allocation - When checked, takes [inside labor cost] and [inside misc cost] out of the overhead and net project calculations.
-
When checked: the total net value of Labor and Misc Costs for all clients will be subtracted from the total Expense Overhead value prior to applying the calculated percentage of the clients overhead.
Total Expense Net Overhead Pool - TTL of All Client Labor Net - TTL of All Client Misc Cost Net = Expense Overhead to be Allocated
(Expense Net Overhead to be allocated)* Client Pct = Allocated Expense Overhead per client -
When unchecked: the net value of Labor and Misc Costs will be shown and will be used in the calculation to arrive at an Allocated Overhead value. Expense Overhead Value.
(Total Expense Net Overhead Pool * Client Calculated Percentage of Overhead) - Client Labor Net - Client Misc Cost Net = Allocated Expense Overhead
Display options
Report layout - When you run the report and modify it, you can make a copy of the report. Which will then appear as another layout option here.
Google financial link
Copy Google link to clipboard - Can paste it into a Google Sheet to have it auto-populate there for manipulation. Refer to the Google Financials - report style guide for more info.
Net profit calculation
The following fields and calculations will get you the same end result of the Net Profit value.
[net profit]
[agency gross income] - [other expense allocated] - [total inside costs] + [other income]
([revenue] - ([allocated COGS] + [direct COGS])) - ([other expense allocated]) - ([outside other expenses] + [inside labor cost] + [inside misc cost] + [overhead allocation]) + ([other income])
Additional details
If you have the ability to modify this report, then you can hover your cursor over the available columns to see how they calculate or get a more detailed description.
For example:
If you hover your cursor over Agency Gross Income. This calculates as "Revenue - COGS". So if you wish to verify this, you can add the Revenue and COGS columns separately and see the numbers before this calculation.