Finances and Profit

• Contract Price — the price agreed with the client;
• Budget — the estimated cost of completing the work;
• Costs — the amount already spent on labor, materials, and other expenses;
• Cost to Complete — the amount expected to be spent to complete the remaining work. To keep this figure accurate, make sure to click Close when a work or material item requires no further action;
• Value of Work Performed — the value of completed work calculated at the contract rates;
• Paid — the total amount received from the client for the Work Package;
• Balance — the amount currently owed by the client;
• Profit — the difference between Payments Received and Costs.

• Labor Remuneration provides a consolidated overview of payments and balances for workers and subcontractors (2);
• Purchasing provides consolidated statistics on procurement progress and costs (3);
• Profit Analysis provides additional information about Project costs and profitability for the entire Project duration or a selected period (4). If a client advance has been received for a Work Package, the Advance Analysis column shows how the advance has been or can be allocated. If subcontractor work has been paid for in advance, that amount is deducted from the client advance and shown in the first column. The remaining amount is divided into funds that should be reserved to complete the Work Package and potential profit that may be used for the company’s general needs, based on the overall profitability of the Work Package.
• Subcontractor Settlements consolidates information about transactions with each subcontractor across all Projects and Work Packages to which they have been assigned to (5). It also shows the value of work paid for in advance and the outstanding amount owed to each subcontractor.
• When company-wide payment tracking is enabled, the standard Cash Flow and Profit and Loss reports are also available on this page (6);
• Archived Projects and Work Packages are not included in Analytics.

Result: financial information for individual Projects and the entire company is available at any time and updates automatically.