RAVE's Financial Management System provides a number of key project and business profitability reports - via your Financial button, the project's Back Costing, Profitability and CC Report sub-tabs, and your Reporting portal's Branch Budget and Client Invoices reports - in this article we're going to review the project's Profitablity report.
Profitability Report
The Profitability Report shows you your Project Value, Approved Quotes, Bills, Client Invoices, and your current Expected Gross Profit vs your Running Gross Profit. This is a live report so any time a Client Invoice is created, or a Supplier Bill is loaded, the Running Gross Profit will change.
If your Running Gross Profit is negative (-) and you see no Invoices to Date (at the bottom of this report screen), it means you haven't charged anything to your client for this job. This can be done via the charge-up option, or via the Progress Payment sub-tab.
If your Running Gross Profit is negative (-) and you have Invoices, this means your Bills-In are higher than your Invoices Out to Clients and you need to check your costs i.e. double-check how you're tracking with your budgets, you may have overspent, or you may be missing a variation.