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✔  Available on Scale subscriptions 1


What
Report on profitability across your projects and people.
Why
  • Track and analyze financial performance.
  • Gain insights into which areas are most profitable. 
  • Identify high-cost areas and where adjustments can be made to increase overall profitability. 
Who
  • Site admins (in the owner company) can access the profitability report and view project & profitability data for all of the site's projects and people.
When
Review the profitability report monthly or quarterly to assess financial performance, identify trends and make informed decisions. 
What
Report on profitability across your projects and people.
Why
  • Track and analyze financial performance.
  • Gain insight into which areas are most profitable. 
  • Identify high-cost areas and where adjustments can be made to increase overall profitability. 
Who
  • Site admins (in the owner company) can access the profitability report and view project & profitability data for all of the site's projects and people. 
When
Review the profitability report monthly or quarterly to assess financial performance, identify trends and make informed decisions. 

Before you start

The profitability report displays projects that have time logged within the report's date range.

Understand profitability calculations

The profitability report uses calculations to determine whether a user or project is profitable over a given period of time.
  • Changes to a user’s existing rates apply to the entire day on which the rate is set or updated and to their profitability calculation.
  • All calculations in the report reflect the currently-selected time frame.
     

Projects with standard budgets and repeating budgets

Revenue calculations for projects with standard, repeating, or no budget:
Revenue = billable hours x billable rates

Projects with a retainer budget

Retainer budget revenue calculations are based on the retainer budget fee. The retainer fee is distributed on a pro rata basis across the budget period.
📝 Revenue calculations are not provided for individual users on retainer projects.

Example 1 — 'Client Website' project:
  • Project’s retainer budget fee: $6,000
  • Budget period: 30 days
  • Distributed daily budget: $200 ($6,000 / 30)
The profitability report is set to a 14-day custom date range:
  • Project revenue = distributed daily amount x number of days in report’s current date range being viewed
  • Revenue amount (“Client Website” project)): $2,800
    • $2,800 = $200 per day (distributed daily amount shown above)  x 14 days.
Example 2 — 'Design Review' project:
  • Project’s retainer budget fee: $21,000
  • Budget period: 30 days
Distributed daily budget: $700 ($21,000 / 30)The profitability report’s date range being viewed extends beyond a project’s retainer budget active period.
  • The profitability report is set to a 14-day custom date range.
  • “Design Review” project has:
    • No active budget during the current reporting period’s first 7 days.
    • A retainer budget set during the reporting period’s remaining 7 days.
  • Project revenue (days 1-7): billable time x billable rate
  • Project revenue (days 8-14): calculated using a 7-day pro rata distribution of the overall retainer fee.
    • $3,000 = $700 (distributed daily amount shown above) x 7 days.
  • Project revenue = project revenue (days 1-7) + project revenue (days 8-14).

View the profitability report

  1. Select Reports in Teamwork.com's main navigation menu. If it's not pinned, you'll find Reports hidden under the ...More option. 
  2. Scroll to the Teamwork reports section.
  3. Select Profitability. Alternatively, use the search field to locate the report.
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Projects view

What it does: Shows profitability per project on your site. Each project is listed on an individual row detailing the project name, and client name.
  • Use the Projects / Users toggle in the report's top right to switch the view. 
    Image Placeholder
  • Use the arrow on a project name’s right to expand the row. The project’s members are listed along with their associated metrics in the columns.
    📝 Users are only shown in the expanded rows if they have logged time against the project and have rates set within the selected report time period.
Column 
Purpose
Set rates
Set the users project billable rates. 
Owner
Displays the project owner (if assigned). 
Logged time
The total time all users have logged on the project in the current date range.
Non billable time
The amount of time logged as 'non-billable' on the project in the current date range.
Expense
The sum total of all expenses added to this project's budget. Expenses will be added to the users row that created the expense. 
📝 Expenses added after the report end date are not calculated in the cost or profitability calculations. 
Cost
The sum of all users' cost rates multiplied by the total amount of time they have logged on the project, plus project expenses in the current date range.
Billable time
The amount of time logged as 'billable' on the project in the current date range.
Revenue
The sum of all users' billable rates multiplied by the total amount of billable time they have logged on the project in the current date range.
Type
Indicates whether a project has a standard budget or retainer budget applied. 
  • If a budget type changes in the middle of a period, hover over the alert icon to show when, during the viewed time period the type was changed.
Profit
The billable total minus the total cost gives project profitability for the current date range.
Budget
Details the project's current budget and expenditure within the selected timeframe.
Hover over the budget for a further breakdown.
Column
Purpose
Set rates
Set the users project billable rates.
Owner
Displays the project owner (if assigned).
Logged time
The total time all users have logged on the project in the current date range.
Non billable time
The amount of time logged as 'non-billable' on the project in the current date range.
Expenses
The sum total of all expenses added to this project's budget. Expenses will be added to the users row that created the expense.
📝 Expenses added after the report end date are not calculated in the cost or profitability calculations.
Cost
The sum of all users' cost rates multiplied by the total amount of time they have logged on the project, plus project expenses in the current date range.
Billable time
The amount of time logged as 'billable' on the project in the current date range.
Revenue
The sum of all users' billable rates multiplied by the total amount of billable time they have logged on the project in the current date range.
Type
Indicates whether a project has a standard budget or retainer budget applied. 
  • If a budget type changes in the middle of a period, hover over the alert icon to show when, during the viewed time period the type was changed.
Profit
The billable total minus the total cost gives project profitability for the current date range.
Budget
Details the project's current budget and expenditure within the selected timeframe. 
Hover over the budget for a further breakdown.

Users view

What it does: Shows profitability per user on your site. Each user is listed on an individual row.

  • Use the Projects / Users toggle in the report's top right to switch the view. 

  • Use the arrow on a user’s right to expand the row. Projects the user has logged time against are listed along with their associated metrics in the relevant columns.
    📝 Revenue calculations are not provided for individual users on retainer projects.

Column 
Purpose
See Rates
View the users project billable rates. 
Logged time
Total time logged by the user across all projects within the current timeframe. 
Non billable time
Total time logged as 'non-billable' by the user across all projects within the current timeframe. 
Expense 
The total sum of expenses created by the user across all projects they are a member of, within the selected date range. 
Cost
The sum of the users cost rates multiplied by the total amount of time they have logged, plus any expenses logged within the current date range.
Billable time
The amount of time logged as 'billable' by the user across all projects in the current date range.
Revenue
The sum of the users billable rate multiplied by the total amount of billable time they have logged across all projects in the current date range.
Profit
The revenue total minus the total cost gives the users profitability for the current date range.
Column
Purpose
See Rates
View the users project billable rates.
Logged time
Total time logged by the user across all projects within the current timeframe. 
Non billable time
Total time logged as 'non-billable' by the user across all projects within the current timeframe. 
Expense
The total sum of expenses created by the user across all projects they are a member of, within the selected date range.
Cost
The sum of the users cost rates multiplied by the total amount of time they have logged, plus any expenses logged within the current date range.
Billable time
The amount of time logged as 'billable' by the user across all projects in the current date range.
Revenue
The sum of the users billable rate multiplied by the total amount of billable time they have logged across all projects in the current date range.
Profit
The revenue total minus the total cost gives the users profitability for the current date range.

Explore the profitability report

Customize the profitability report to view the exact information you need.
 
Action
Location
Date range
Use the arrows next to the current dates (at the top of the view) to see previous or future timeframes.
Search
Locate tasks, projects, companies, or or project owners based on name.
View % or $
View profit as a percentage or as a number. 
💡 The currency used in the profitability report is based on the site currency selected in your general site settings.
Timeframe
Select a week, month, quarter, or a custom timeframe.
Sort
Hover over a column heading and use the arrow on the heading’s right to sort the report based on that property. Clicking the arrow multiple times toggles between ascending and descending order.
Expand & collapse
Click the arrow on a project's (or persons') left to expand the view. 
Summary totals
View time and financial totals at the bottom of each column. 
Reorganize columns
  • Click the + in the header row's right to toggle which columns display in the report. 
  • Click and drag a column heading to a new position to reorder. 
Action
Location
Date range
Use the arrows next to the current dates (at the top of the view) to see previous or future timeframes.
Search
Locate tasks, projects, companies, or or project owners based on name.
View % or $
View profit as a percentage or as a number.
💡 The currency used in the profitability report is based on the site currency selected in your general site settings.
Timeframe
Select a week, month, quarter, or a custom timeframe.
Sort
Hover over a column heading and use the arrow on the heading’s right to sort the report based on that property. Clicking the arrow multiple times toggles between ascending and descending order.
Expand and collapse
Click the arrow on a project's (or persons') left to expand the view.
Summary totals
View time and financial totals at the bottom of each column.
Reorganize columns
  • Click the + in the header row's right to toggle which columns display in the report. 
  • Click and drag a column heading to a new position to reorder. 

Filter the profitability report

Use filters to refine the report to show the information most relevant to you.
 
Filter option
Purpose
Projects view
Projects
Select one or multiple projects. 
Tags
Filter based on projects’ associated tag(s).
Owner
Show projects based on their associated owner. 
Companies/Clients
Show projects based on their associated company or client.
Categories
Refine the projects shown based on their associated project categories.
Type
Filter the report based on budget type:
  • All budget types
  • Projects with retainer budgets
  • Projects with standard budgets
Users view
Teams
Filter the report based on users’ assigned teams.
Users
Only show report data for specific users.
Companies/Clients
Show users based on their associated company (client).
Projects
Only show user data for certain projects.
Tags
Filter by one or multiple project tags.
Filter option
Purpose
Projects view
Projects
Select one or multiple projects.
Tags
Filter based on projects’ associated tag(s).
Owner
Show projects based on their associated owner.
Companies/Clients
Show projects based on their associated company or client.
Categories
Refine the projects shown based on their associated project categories.
Type
Filter the report based on budget type:
  • All budget types
  • Projects with retainer budgets
  • Projects with standard budgets
Users view
Teams
Filter the report based on users’ assigned teams.
Users
Only show report data for specific users.
Companies/Clients
Show users based on their associated company (client).
Projects
Only show user data for certain projects.
Tags
Filter by one or multiple project tags.

Export the profitability report

Export the profitability report to a shareable format.

  1. Click Reports from Teamwork's main navigation menu.
  2. Select the Profitability report.
  3. Click the filter button (Image Placeholder) in the report's top right and choose any relevant criteria you want to filter by. This is optional but allows you to create a tailored report.
  4. Click the ... (ellipsis) in the report's top right.
  5. Select Export.
  6. Choose an export format:
    1. PDF
    2. CSV
    3. Excel
    4. Google Sheets (available on Deliver, Grow, and Scale subscriptions)

The export is downloaded to your device.

Schedule the profitability report

Schedule the profitability report to be sent automatically to teammates that need it. 
  1. Click Reports in Teamwork's main navigation menu.
  2. Select Profitability. 
  3. Click the ... (ellipsis) in the upper right corner.
  4. Click Schedule Report.
  5. Set the scheduled report's criteria: recipients, format, date & time it should be sent, repeat interval (optional).

The profitability report will be sent to the recipients on the scheduled day(s).
💡Learn more about scheduled reports.

Best practices

  • Review and analyze: Schedule routine reviews of the profitability report to identify trends, cost overrun, or high profitability. 
  • Customize for clarity: Tailor the profitability report using filters to align with specific clients or teams. Customize the report to highlight your company's key objectives, such as project costs, resource allocation and revenue generation. 
1. Also available on legacy subscriptions: Enterprise.