Cost and Revenue

Understand Financial Calculations

Financial calculations depend on a combination of settings and planning data to be set:

Resource Charge Rate:
- Defined by an administrator and held by a resource
- Specifies the cost and revenue that a resource generates per hour, within a given time period
- A resource must have a rate set (using their Charge Rate history field) during the same time as the booking they are assigned to
- The Rate that a resources holds on the first day of a booking is used for calculations
Job Charge Type:
- Defined by an administrator in conjunction with the resource rate and set on a Job
- Specifies the cost and revenue for different types of job e.g. chargeable vs non-chargeable
- Set using the Charge Type Job field
Booked hours:
- Determined by the time allocation of a booking and the resource assigned to it
- Bookings that specify the time allocation based as a % of resources capacity will take into account the diary time of a resource
- If a booking includes non-work days, contingency time will contribute to calculations
- Booking calculations are combined and summarised in Job Total calculations
- Unassigned bookings do not return financial information because they do not have a resource assigned and therefore do not hold a diary

Example rate configuration

Resource Rate	Job Type: Client Chargeable	Job Type: Internal non-chargeable
Junior Rate (during 2020)	Cost: £150 per hour Revenue: £500 per hour	Cost: £150 per hour Revenue: £0 per hour
Senior Rate (during 2020)	Cost: £300 per hour Revenue: £1,000 per hour	Cost: £300 per hour Revenue: £0 per hour
Junior Rate (during 2021)	Cost: £175 per hour Revenue: £525 per hour	Cost: £175 per hour Revenue: £0 per hour
Senior Rate (during 2021)	Cost: £325 per hour Revenue: £1,025 per hour	Cost: £325 per hour Revenue: £0 per hour

Example Booking financial calculations

In this scenario, imagine resources work a 40-hour a week diary, and you have a 5-day booking with a time allocation of 50% of the resource capacity (i.e. 20 hours).

Using the example rates we defined above, this is how booking financial calculations would resolve depending on whether they were assigned to a resource that holds a junior or senior Charge Rate and whether the Job has a chargeable or non-chargeable Charge Type:

Example booking calculations during 2020:

Job Type	Resource Rate	Cost	Revenue	Profit
Client chargeable work	Junior Rate	£3,000	£10,000	£7,000
Internal non-chargeable work	Junior Rate	£3,000	£0	-£3,000
Client chargeable work	Senior Rate	£6,000	£20,000	£14,000
Internal non-chargeable work	Senior Rate	£6,000	£0	-£6,000

Example booking calculations during 2021:

Job Type	Resource Rate	Cost	Revenue	Profit
Client chargeable work	Junior Rate	£3,500	£10,500	£7,000
Internal non-chargeable work	Junior Rate	£3,500	£0	-£3,500
Client chargeable work	Senior Rate	£6,500	£20,500	£14,000
Internal non-chargeable work	Senior Rate	£6,600	£0	-£6,500

Understand Job Total Calculations

Jobs offer round-up financial calculations that summarise the bookings on that job.

Total Cost, Total Revenue and Total Profit sum the values for all bookings on the job
- Note: Only planned bookings contribute to these total calculations, unconfirmed bookings are excluded
Budget allows planners to enter an overall budget for the job
Budget consumed a calculated percentage of the budget that has been consumed after the total cost has been deducted

Set up Charge Types

Add a charge type

Select Settings → Cost and Revenue → Charge Types from the menu on the left. The Charge types page will be displayed
Click Add a charge type
Enter a unique charge type and the description
Click + Add a charge type to add another row if required
Save Changes to save

Edit a charge type

Select Settings → Cost and Revenue → Charge Types from the menu on the left. The Charge Types page will be displayed
Click the edit icon for the row that you want to edit. The fields will become enabled and editable
Make changes as necessary
Save Changes to save

Delete a charge type

Warning

If a Charge Type is in-use by existing planning data, your calculations and reports may break by deleting it

Select Settings → Cost and Revenue → Charge Types from the menu on the left. The Charge Types page will be displayed
Click the delete icon for the row that you want to delete
Click Mark for deletion
The selected row is marked for deletion in the grid
Save Changes to delete the row. The deleted charge type will not be available for use. Existing bookings will retain the charge rate

Set up Charge Rates

A set of default charge rates will be available for you to use. These may be deleted, renamed or duplicated if required.

Add a charge rate

Select Settings → Cost and Revenue → Charge Rates from the menu on the left
Select Add an item
Enter a unique name for the charge rate, and the description on the page that is displayed. The description can detail the scenario in which the charge rate is used
The Hourly charge rates per charge type section lists all of the charge types currently in the system
To add charge rates, select the appropriate charge type and select Add Cost and Revenue
Enter the start date and end date. The charge rate applies to this date range
- Note: Dates ranges cannot overlap
Enter revenue and cost
Click Add Cost and Revenue to add more rows. Date range must be unique
Save changes

Edit a charge rate

Select Settings → Cost and Revenue → Charge Rates from the menu on the left. A column of charge rates will be displayed
Select the charge rate that you want to edit
Click the edit icon for the row that you wish to edit
Edit charge rate and description
Save Changes to save

Delete Cost and Revenue

Note

Deletions cannot be undone.

Select Settings → Cost and Revenue → Charge Rates from the menu on the left
Select the charge rate
Click the delete icon against the row that you wish to delete
Click Mark for deletion
The selected row is marked for deletion in the grid
Row is deleted after Save changes is clicked

Delete a charge rate

Warning

If a Charge Rate is in-use by existing planning data, your calculations and reports may break by deleting it

Select Settings → Cost and Revenue → Charge Rates from the menu on the left
Select the charge rate from the column that displays charge rates
Click the 3-dot menu for the charge rate
Click Delete. Charge rate is marked for deletion
Click Save changes
After the charge rate is deleted, it is unavailable for any future use However, the charge rate is retained on existing bookings