This is 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 "non-internal" projects, the formula is:

"Work" budget – Billable work recognized already on project

Only including projects that are open in status: "Quotation", "Approved", "In progress", and "On hold".

If Billable work exceeds "work" budget, Remaining budget will be 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

Looking at all client projects (i.e. not flagged as "Internal project"), the components of Project revenue are:

Expressing the average effective hourly rate on the projects that have been closed in the selected period.

In Timelog, the term for closed projects is "Inactive" and this counts the statuses: Completed, Archived, and Cancelled

All transactions from the closed projects are included - regardless of their timing.

Formula is simply:

Project revenue from closed projects / Total hours used on the same projects

See and modify your True bill rate target here.