Step 1: Click on Projects from the Admin left panel.
Step 2: From the drop down, click on Project List.
Step 3: From the list of projects, select the project you want to change the profit & loss calculation method of.
Step 4: Click on Settings in the page that opens.
Step 5: Scroll down till you reach a section titled Profit Loss Configuration.
Step 6: There are four profit and loss calculation parameters to choose from:
- Task Spent vs Task Assigned
If the actual time spent on a task is less than the time originally assigned, the project results in a profit.
- Task Spent vs Project Estimated Hours
When the total time spent on tasks is less than the estimated hours for the entire project, the project remains profitable.
- Task Assigned vs Project Estimated Hours
If the total assigned time for all tasks is less than the project’s estimated hours, it indicates potential for profit.
- Task Billable Amount vs Project Estimated Amount
If the total billable amount for all tasks is lower than the project’s estimated cost, the project will be profitable.
Step 7: Select the parameter you wish to apply. Your project settings will be updated.