Understanding the Financial tab

The Financial tab gives a real-time snapshot of a project's revenue, cost, and profit. Below is what each section reflects:

• Revenue – Pre-tax total of all approved Proposals (Quote/Bid) and Change Orders on the project

• Estimated Cost – Cost total of the same approved Proposals and Change Orders

• Estimated Profit – Revenue minus Estimated Cost

• Margin – Estimated Profit divided by Revenue, shown as a percentage
  

Income Progress

• Income – Post-tax total of approved Proposals and Change Orders

• Invoiced – Total of approved but unpaid invoices

• Paid – Total of paid invoices

Cost Progress

• Estimated – Same value as Estimated Cost above

• Committed – Total of approved Purchase Orders and Work Orders. This can show over 100% of Estimated Cost, since it's pulled from a different source than the original bid

• Billed – Total of approved Bills

Cost Breakdown

• Splits the Estimated Cost total into Material, Labor, and Other, based on all approved Proposals and Change Orders

Invoices

• Splits the Invoiced total into Paid, Open, and Overdue

Bills

• Splits the Billed total into Paid, Open, and Overdue

Estimated vs. Actual Cost

• Compares Estimated cost (approved Proposals + Change Orders) against Actual cost (approved Purchase Orders for material and Work Orders for labor), broken out by Material, Labor, and Other