Tracking a Project's Revenue

Abstract

How to track a project's revenue

In addition to tracking a project’s cost, you can track a project’s revenue. Cost Tracker 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 field in Tempo Timesheets time records, 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.

Check out this video to see how to track revenue with Cost Tracker:

To track revenue:
  1. Click Configuration in the upper-right.

  2. Select Roles & Rates on the left.

  3. On the Team Rates page, turn on Revenue Tracking.

  4. 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
  5. 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 vs Time Spent.

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