Understanding the Project Financial Tab in MeasureSquare CRM
To enable the Financial Tab:
- Go to Settings
- Select Preferences, then Project
- Check the box next to Financial
- Click Save
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
It's normal for Committed to show over 100% of Estimated Cost. Committed reads from approved POs/WOs, a separate data source from the original bid, so the two won't always match exactly.Related Articles
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