BILLABLE WORK
The sales value of all hours that categorize as “Billable hours” (see "STAFF metrics" article).
Remaining budgets
Expressing what is still left to be earned on billable projects only, the formula is:
Budget of type "FIXED PRICE" – Billable work recognized already on project
Only including projects that are open in status: "Planning", "Running", or "Halted" (i.e. "Opportunity" projects are not included).
If Billable work exceeds budget on the single project, Remaining budget is set to zero (i.e. can never count as negative).
On the single project, Remaining budget is distributed evenly until project end date. If end date is in the past, the entire Remaining budget is counted tomorrow.
As mentioned above, Remaining budget is calculated per project, which is then summarized to client level and all the way up to entire company outlook.
Gap
Gap is only shown for current fiscal year. And is equal to:
Total Finance revenue budget for the year – Billable work – Remaining budget within current fiscal year
See and modify your revenue budget here.
Project revenue
Components of Project revenue are:
1. The sum of sales invoices (excl. VAT/taxes) with status "Sent" and have an invoice date within the selected time frame.
2. From this all "expense items" having a date within selected time frame are subtracted at cost price (both approved and non-approved)
TRUE BILL RATE
Expressing the average, effective hourly rate on the projects that have been closed in the selected period.
All transactions from the closed projects are included - regardless of their timing.
The formula is simply:
Project revenue from closed projects / Total hours used on the same projects
Definition of "closed job" is status: "Done".
See and modify your True bill rate target here.