You can create Profitability Reports which show cost, revenue and profit per project by combining project estimates with actual time, expense, and custom entry data in a single report. Profitability Reports can be created on the Standard Reports screen, which is accessed via the Reports menu.
Figure 28.22. Profitability Report
Report Options
Profitability Reports provide calculated fields for reporting on project costs, revenues, profits and ROI. Then main report output shows project financials, along with other selected data specific to the project. In addition to the project summaries, the Profitability Report includes the ability to drill down into the details of the time, expense and custom data that is used to calculate the project financials. So long as a project has hours/expenses logged against it, you can click on the project name to expand or collapse the detailed report that contains a list of the individual records.
The date range options for Profitability Reports are the same as those offered in other report types. However, the way they are used to filter data is somewhat different. In most report types, the dates determine what actual hours or expenses are shown in the report. For Profitability Reports, the dates are used to filter on active projects for the date range. In other words, all projects with start or end dates that fall within the report date range are shown in the report, regardless of whether or not actuals were entered during the period. If you are not entering start and end dates for your individual projects (or scheduled start and end dates for scheduled projects in Journyx), you may override the date range for the report under the Report Filters section. If you are using Journyx Projectlink to import any of your projects from MS Project, you will need to use the MSP Start and End Date fields to store dates for your unscheduled projects.
You are only allowed to override the report date range if you select some project filters for the report first. Otherwise, you may have difficulty running the report if you are trying to include every project in your system. Journyx recommends either limiting the report date range or the project list in order to ensure the report will run in a reasonable amount of time. This report is not only running calculations for project financials, but it is also rolling up totals from task, to summary task, to project.
There are a few project filtering options that are unique to Profitability Reports. Under Report Filters, the Profitability Report includes most of the same options available for other report types. The option to disable the report date range when project filters are in place was discussed above. Another project filter option unique to the Profitability Report is the Project Type filter. This filter is only needed if you are using Journyx. In Journyx, you can choose to limit the report to scheduled projects, unscheduled projects or include both. The last option for report filtering can be found under Report Output Options, and it allows you to limit your list of projects to a specific level of the project hierarchy (e.g., level 1 is any project directly under the "root" or top level project).
Additional options specific to Profitability Reports under Profit Calculation Options are:
Pay Rate source for Cost fields
Profitability Reports include project cost fields that multiply the user hours worked by a specific pay rate in the Journyx system. This option allows you to choose the pay rate source for the cost calculations in this report. The choices for rate source are:
- User
- Project
- Project-Activity
- Assignment (Journyx only)
NOTE: Project-Activity rates cannot be used for "projected" field calculations because they require actual selections as the time is entered. Projected fields are available for Journyx only.
Bill Rate source for Revenue fields
Profitability Reports include project revenue fields that multiply the user hours worked by a specific bill rate in the Journyx system. This option allows you to choose the bill rate source for the revenue calculations in this report. The choices for rate source are:
- User
- Project
- Project-Activity
- Assignment (Journyx only)
NOTE: Project-Activity rates cannot be used for "projected" field calculations because they require actual selections as the time is entered. Projected fields are available for Journyx only.
Actual Cost is sum of
This option allows you to choose what data will be included in the Actual Cost field for this report. You can limit it to your time/labor data, or you can include expense and other custom types of data as well.
Actual Revenue is sum of
This option allows you to choose what data will be included in the Actual Revenue field for this report. You can limit it to your time/labor data, or you can include expense and other custom types of data as well.
Additional options specific to Profitability Reports under Fields to Display are:
Actual Fields
The "actual" fields include Actual Cost, Actual Revenue, Actual Profit and Actual ROI%. Actual Cost and Actual Revenue are calculated based on your selections in the Profit Calculations Options section of this report. Actual Profit is Actual Revenue minus Actual Cost. Actual ROI% is Actual Profit divided by Actual Cost.
Budgeted Fields
The "budgeted" fields include Budgeted Cost, Budgeted Revenue, Budgeted Profit, Budgeted ROI% and Budgeted Work Hours. All of the budgeted fields also have variance and variance % calculations for comparison to their respective actual fields. For example, Budgeted Cost Variance is Budgeted Cost minus Actual Cost. You can also view the variance amount as a percentage. Budgeted fields must be filled in manually for each project. You can fill them in at the project level, or you can fill them in at the task level and roll the amounts up to the project.
NOTE: Budgeted Work Hours comes from the Estimated Hours field for Journyx (unscheduled) projects. Like the other budgeted amounts, you can estimate your hours at the project level or roll it up from the individual tasks. If you are using Journyx, Budgeted Work Hours is calculated based on the scheduled work for your assignments.
Projected Fields
The "projected" fields are only available in Journyx and include Projected Cost, Projected Revenue, Projected Profit and Projected ROI%. All of the projected fields also have variance and variance % calculations for comparison to their respective actual fields. For example, Projected Cost Variance is Projected Cost minus Actual Cost. You can also view the variance amount as a percentage. Projected Cost and Projected Revenue use the rate selections under the Profit Calculations Options section of this report to multiply pay and bill rates by the amount of scheduled work assigned to a project or task. Projected Profit is Projected Revenue minus Projected Cost. Projected ROI% is Projected Profit divided by Projected Cost.