Instead of making your decisions based on a gut feeling or being clever in hindsight, see whether your projects are profitable while they’re still in process. Scoro's Work In Progress report can help you effectively manage your project budgets thanks to getting a clear overview of the billable time and project-related costs, both yet to be charged.
Note! WIP report is available with Scoro's Ultimate plan.
You can activate the report for different user roles by going to Settings > Administration > Roles and permissions. Click on Modules and actions on the relevant user role line...
and tick the right to “View WIP report” for that role.
You can find the WIP report under Reports.
Filter the report by users, projects, clients, tags, etc.
Change the view of the table according to your needs. Tick the columns you wish to show, and hide the ones irrelevant to you. Drag and drop the order of the columns as you please.
First, we need the % of project completed. This is calculated by dividing the actual cost of the project by the budgeted cost. For example, the budgeted cost is $1000 and we have actually spent $500 (500/1000=50%).
So, we have spent half of the project cost. Now, we should charge the customer half of the project income (income budget * project completed %). E.g. if we sold the project with $2000, the calculation would be 2000*50%=$1000.
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