PROJECT PROFITABILITY
For a business firm, it is highly essential to know the profitability of each project. Odoo Project, provisions easier tactics to acquire project profitability in a single click. One can also analyze the project revenue and expenses using the analytic accounting enshrined in the module.
Open Project Module
Under the Project Overview, Odoo displays the current profitability status of a project.
The profitability of a project is calculated on the basis of 3 elements.
- Invoiced : A project has a sales order, and it may be fully invoiced when the invoicing policy is set on the basis of the ordered quantity or partially invoiced in case of invoicing policy based on timesheet of tasks. Here the invoiced amount is displayed as invoiced.
- To Invoice: A project has a sales order, and the timesheet is updated with an employee, which means service is delivered to the customer, but not invoiced.
- Timesheet Cost: Timesheet cost = Delivered Quantity * Employee Timesheet cost. Timesheet cost is the amount that a company has spent on a project.
Profitability calculation:
Total = Invoiced + To invoice - Timesheet cost
Profitability Using Analytical Accounts
One can analyze a project using Analytical accounts. Upon creating a new project, Odoo creates an analytic account with the same name of the project.
To get the detailed report of this project,
Go to Accounting >Management > Analytic Items