BILLABLE WORK
This is the sales value of all hours that categorize as “Billable hours” (see explanation further up regarding the flexible setting of this).
Remaining budgets
Expressing what is still left to be earned on billable jobs owned by client type "Client" or "Newbizz", the formula is:
Sum of NR value on externally approven Price quotes (status 50) – Billable work recognized already on job
Only including jobs that are open in status: "In progress", "On hold", or "Ready for invoicing" (i.e. "Quotation" jobs are not included).
If Billable work exceeds sum of Price quote NR on job, Remaining budget is set to zero (i.e. can never count as negative).
On the single job, Remaining budget is distributed evenly until job end date. If end date is in the past, the entire Remaining budget is counted tomorrow.
As mentioned above, Remaining budget is calculated per job, 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 jobs owned by either client type "Client" or "Newbizz", the components of Project revenue are:
The sum of sales invoices (excl. VAT/taxes) that are finalized and have an invoice date within the selected time frame.
From this all external costs, personal expenses, and mileage entries are subtracted at cost price - regardless of their status
Both billable and non-billable jobs can potentially contribute, if client type is the above mentioned.
TRUE BILL RATE
Expressing the average effective hourly rate on the jobs that have been closed in the selected period.
Including billable jobs owned by client type "Client" or "Newbizz",
All transactions from the closed jobs are included - regardless of their timing.
Formula is simply:
Project revenue from closed jobs / Total hours used on the same jobs
Definition of "closed job" is status: "Invoiced" (i.e. jobs in status "Cancelled" are not included).
See and modify your True bill rate target here.