Revenue Budget

Revenue Budget

In Zoho Projects you can now track project revenue along with the project cost. Project Revenue is the amount expected to be paid by the client and Project Cost is the verifiable expenditure made by the project user. Project managers can track the project budget and project revenue based on cost per hour and rate per hour, respectively.

Benefits

  1. Calculate the profitability of the project by comparing Revenue against the budget.
  2. View planned vs actual revenue.
  3. Evaluate feasible budget based on the revenue generated.
  4. Compare revenue budget against the invoiced amount
Feature Availability: Latest user-based Premium and Enterprise plans.

Enable Revenue Budget

  1. Click  in the top right corner of the page.
  2. Select Project & Budget under Portal Configuration.
  3. Navigate to Budget Settings.
  4. Toggle Enable Revenue Budget.

Set Revenue Budget for your Project

  1. Navigate to Projects in the left navigation panel and click New Project.
  2. Enter the project details.
  3. Select the currency based on your requirement in the Budget section.
  4. Select Budget type based on Project Amount.
  5. Set the Cost per hour and Rate per hour to calculate project cost and project revenue.
  6. Click Add.

Note
  1. The existing Rate per hour field values will be automatically updated in the Cost per hour field during the release.
  2. If you have used the "Rate per hour" field in Zoho Analytics for the cost calculations, please update those reports with the "Cost per hour" field, manually.

Track Revenue Budget

If the budget type is based on Project Amount, the users will be able to set the Revenue Budget while creating the project. The rate per hour field value will be used for calculating and invoicing the project's revenue. View your planned versus actual revenue and cost variance details in the project list view.
  1. Click Projects in the left navigation panel and navigate to your project.
  2. Click Dashboard from the top panel.
  3. Navigate to the Details tab.
  4. View and compare the Planned, Actual and Forecasted revenue.
Note: Users can also view the Revenue Budget details in the project list view.

Formulae for Calculating Revenue Budget

  1. Planned hours: Total Work Hours
  2. Actual hours: Total billable Log Hours
  3. Planned revenue: Planned hours * Rate per hour
  4. Actual revenue: Actual hours * Rate per hour
  5. Forecasted revenue = (((100 - % completion) * planned revenue)/100) + Actual revenue

Edit Revenue Budget

  1. Click Projects in the left navigation panel and navigate to your project.
  2. Click Dashboard from the top panel.
  3. Navigate to the Details tab.
  4. Click   next to the Budget Field.
  5. Modify budget information.
  6. Click Update.


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