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Project Profitability

  • 118views
  • February 6, 2024

Project Profitability

Projects and their associated activities typically remain active for extended periods. As developments progress within a project, numerous transactions occur. These ongoing developments may necessitate additional investment in terms of time, finances, and resources. Consequently, monitoring the profitability of a project becomes crucial to prevent overspending.

In essence, project profitability refers to the disparity between the revenue generated from a project and the costs incurred throughout its execution.

Project in Sales Transactions

You have the option to associate a project with all sales transactions such as Sales Orders, Delivery Notes, Sales Invoices, and Payments. By linking your project with these sales transactions, you can effectively monitor the income received for that specific project.

Typically, the Project field is accessible within the More Information section of sales transactions.

Project in Purchase Transactions

You also have the ability to connect your project to purchase transactions such as Purchase Orders, Purchase Receipts, and Purchase Invoices.

In purchase transactions, the option to link a project is provided within the Item table. This arrangement allows for the possibility of procuring materials for multiple projects within the same purchase entry.

Budgeting against Project

You can create a Budget for a project as well. The expense limit defined in the Budget will be validated in the expense transactions.

 

Project Profitability

Based on all the income and expense entries created for the Project, you can get its profitability.

> Accounting > Profitability Analysis

You can filter the report by Project to check Project-wise Profitability.