A project can feel successful and still make less profit than expected. The only way to know is to compare income against the costs of delivering the work.
What to track per project
- quoted price
- invoice value
- direct expenses
- subcontractor costs
- mileage or travel
- payroll or team costs where relevant
- time spent
Simple project profit formula
Project profit is broadly:
project income minus project costs
That does not replace accounting advice, but it gives you a clearer operating picture.
Questions to ask
- Which clients are most profitable?
- Which jobs create hidden costs?
- Are fixed-fee projects priced correctly?
- Are expenses being allocated to the right job?
Use Projects, Invoices and Expenses to keep job-level records together.
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