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Enable Project Revenue Tracking

Owned by Jaramy Conners
Last updated: Jul 26, 2024 by Su-Lyn Rosenberry
2 min read

In addition to tracking a project's cost, you can track a project's revenue. Financial Manager considers only the hours logged to a project as revenue. Tracking revenue also lets you discover a project's profitability when you compare the revenue with the actual costs.

The revenue is calculated by multiplying the number of hours logged by a Billing Rate:

  • If there are hours logged in the Billable hours field in Tempo Timesheets worklogs, the Billing Rate is applied only to these hours.

  • If there are no hours logged specifically as Billable, the Billing Rate is applied to all hours logged to a project.

  • Hours logged as Billable to Internal Issues (such as vacation or sick time) are not included in the project's revenue calculation.

Track Revenue

  1. Open a Financial Manager project.

  2. Click Configuration in the upper right.

  3. Select General on the left, and enable Revenue Tracking.

  4. Navigate to Members and Roles on the left.

  5. Set an Hourly Billing Rate as the default rate to use for all team members who have logged time to the project (Billable or not).

    rates_page_billing_updtd.png

  6. Optionally, set a Billing Rate for an individual team member who has logged time to the project.

You can view the project's revenue information on the Scope and Overview tabs:

  • In the project Scope, you can see the number of Billable hours and the Revenue. Compare billable hours to time spent.

  • In the Overview, you can see the Revenue. Compare it with the cost to see the project’s profitability.

 

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