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  1. Projects
  2. Profit Factor

Fixed profit factor

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Last updated 1 month ago

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Configuration

To configure the calculated profit factor the feature for this must be enabled. The feature is listed in the Modules section under Setup / Settings / General.

By activating the feature (remember to save), a new menu item will be available in the left panel in Setup / Settings / Projects.

Select "Fixed" and enter the company defined profit factor to be used for calculations, save this selection to get started.

Visualization

By activating the fixed profit factor a few fields will appear in various locations

Project

On the project main page, the defined profit factor is shown at the bottom of the first left section. The value shown is the one used for the specific project.

In addition, as this is a value that can be edited on the project, when clicking the "Edit" link for the project, the field is available to be edited.

Project Report

The first option "Fixed profit factor" will show the factor for the projects, if only company factor is used, this will be the same for all projects. Where the factor has been changed, the factor used for the project is shown.

Calculation

The calculation of the values shown in the report are done as part of loading the report. Each time the report is updated, new values will be calculated if there have been new registrations of data added.

Values calculated

The data used in the calculation of the columns listed as options in the report are the hours registered on the project as well as the supplier invoices.

To explain the calculations and values used, each of the columns are described here.

Profit based on factor

The column "Profit based on factor" will make use of the total cost of hours registered for the project, this is multiplied with the defined factor and from the result of the multiplication, the same cost is subtracted

(HoursCost∗FixedProfitFactor)−HoursCost(HoursCost * FixedProfitFactor) - HoursCost(HoursCost∗FixedProfitFactor)−HoursCost

WIP based on factor

The column "WIP based on factor" is using the using the same cost as used in "Profit based on factor" and add this to the result from that column

ProfitBasedOnFactor+HoursCostProfitBasedOnFactor + HoursCostProfitBasedOnFactor+HoursCost

WIP net total based on factor

The column "WIP net total based on factor" is using the result of the "WIP based on factor" and subtracting the amount invoiced.

WIPBasedOnFactor−InvoicedWIPBasedOnFactor - InvoicedWIPBasedOnFactor−Invoiced

Suppliers net

The column "Suppliers net" is calculated from the supplier invoices that exists. The total amount from all supplier invoices and subtracting the amount from those supplier invoices that have been invoiced.

SupplierInvoicesTotal−SupplierInvoiceInvoicedSupplierInvoicesTotal - SupplierInvoiceInvoicedSupplierInvoicesTotal−SupplierInvoiceInvoiced

Work in progress net total

The column "Work in progress net total" is calculated using the previous two columns, "WIP net total based on factor" and "Suppliers net", the two values are added to each other

WIPNetTotalBasedOnFactor+SuppliersNetWIPNetTotalBasedOnFactor + SuppliersNetWIPNetTotalBasedOnFactor+SuppliersNet

In the project report a number of columns will also be available for selecting. These are explained more in the paragraph

values calculated