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What do the figures on a project's Finances tab mean?
What each figure on the tab means: cash today, expected result, profit after labour, invoiced, invoice coverage.
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What are the four results? Why are some amounts with VAT and some without? What does the official picture show? Where do the amounts come from?A project's Finances tab is shown to whoever may see amounts; the labour lines only to whoever may also see labour cost. It shows the same project from four sides, which is why it has four different «results». None of them is wrong — each answers a different question.
What are the four results?
| Figure | How it is worked out | What it answers |
|---|---|---|
| Cash today (received − paid) (formerly «Net cash») | What was collected, minus what was paid to partners and for expenses — to date | How much money the project has brought in so far |
| Net result by the work items (= Gross contribution) (formerly «Expected final net result») | The agreed fees of the receivable work items, minus the payable ones, minus every recorded expense — collected and paid or not; without the team's labour | What will be left once every account is settled |
| Profit after labour (formerly «Project profit») | Income excluding VAT, minus partners, expenses excluding VAT and the team's labour. Whoever does not see labour cost sees the Gross contribution in its place — the same without the labour. Shown only when the office records time | Whether the project was worth the time it was given |
| Invoiced (incl. VAT) (formerly «Statutory fee») | The sum of the invoices (including VAT) you recorded on the receivable work items — not the TEE minimum fee | How much has been officially invoiced |
Why are some amounts with VAT and some without?
Each box of the tab counts on one basis, written next to its title: all without VAT — fees, invoices and expenses, where the project's result is worked out — or all with VAT · real amounts — the Actual cash movement, what really comes in and goes out. In the cash box, what is still to be paid to partners counts with VAT, at the office's rate. The box ends with the Expected cash at the end (with VAT): today's cash, plus what is still to be received, minus what is still to be paid to partners and for expenses.
What does the official picture show?
The official invoice picture compares the invoices with the Project budget:
- Invoice coverage — how much of the budget all of the project's documents cover (our own work items', the partners' and the expenses), excluding VAT.
- Fee allocation gap — the budget minus the agreed fees of the receivable work items: how much of the agreement is not yet spread over work items.
- Expected net result, based on the project budget — the budget minus the payable work items and the expenses.
Where do the amounts come from?
Money received and payments are recorded on each work item's Finances tab (+ Record money received or + Add a payment) and under the project's Expenses. The figures change at once; nothing is typed in here except the Project budget.
If the project came from an offer, Offer ↔ reality at the end of the tab sets the offer's amounts beside today's.