The Profit and Loss by Project Summary Report is accessed from the Reports Window, Project Management folder and is designed to give an overall view of the profitability of a Project. This report can be used to get a snapshot of how the Project is creating Revenue for the Company and how much the company is spending on the Project.
The report has 3 Formats; run it by Project, by Revenue, and by Manager for a Fiscal Month Range.
Revenue: The total Sales/Revenue from Invoices accepted through the system.
Cost of Goods Sold (COGS): The total Costs from Vendor Invoices entered into the system.
Gross Profit: The difference between the Revenue and COGS columns.
Expenses: Entries entered as Expense/Bill/Miscellaneous Vendor Invoices that offset to an Expense Account (project and Non-Project related).
Other Income and Expenses: Entries entered as Expense/Bill/Miscellaneous Vendor Invoices that offset to an Other Income and Expenses Account (project and Non-Project related).
Net Income: The difference of the Revenue column and the COGS, Expenses, and Other Income and Expenses columns.
%: Profit Percentage - Net Income divided by the Revenue represented as a Percentage.