Multiple cost reports can be created to customize cost reports based on project type, customer segmentation, or other specific reporting needs. The cost report is generated based upon the Cost Report Name drop down menu on the Report Criteria. All transactions charged to a project will appear in the cost summary report irrespective of whether it is associated with a Cost Element.
Name the cost report with a title that is meaningful to the end user, and give a description that provides further detail as to the purpose of the report.
Cost Reports may be copied from already existing Cost Reports.
Examples of cost reports that may be meaningful to an organization could include the following and are illustrated further at the end of this document:
- Default standard cost report - This would apply to most billable projects.
- Non-billable charges - This would apply to non-billable projects to capture the full value or fully burdened costs of non-billable efforts.
- Project Profit - Summary of overall profitability of billable projects, including indirect costs.
- Revenue Analysis - To run analysis based on actual versus billable values, or cost plus rate comparisons.
- Unmapped - Find and identify those costs that are unmapped.
Report Elements Tab
Labels can also be specified for each report item, and can be used as column headers. To ensure the report is not too wide to fit on the screen, it may helpful to use abbreviated or multiple words in the report item label to allow wrapping rather than a single word, i.e., "Sub Contractor" rather than "Subcontractor."
Note that Actual and Budget Formulas that can be created. The Budget Formula uses the fields on the Project Profile tab.
|Cost Element Name||Based On||Mapped |
To Cost Element
("Both" means both Billable and Non-Billable)
|Formula||Examples For Usage|
|Actuals Fee Calculation Method||Time/Expense||Yes||Yes||Fee Formula |
w/Rate from Search
|Bill::[Labor Cost Element]||Time||Yes||Both||Bill::Billable::[Labor Cost Element] |
+ Bill::Non-Billable::[Labor Cost Element]
|Bill::[ODC Cost Element]||Expense||Yes||Both||Bill::Billable::[ODC Cost Element] |
+ Bill::Non-Billable::[ODC Cost Element]
|Bill::Billable::[Labor Cost Element]||Time||Yes||Yes||Diluted Bill Rate * Hours|
|Bill::Billable::[ODC Cost Element]||Expense||Yes||Yes||Amount * Markup|
|Bill::Billable::Unmapped Expense||Expense||No||Yes||Amount * Markup|
|Bill::Billable::Unmapped Labor||Time||No||Yes||Diluted Bill Rate * Hours|
|Bill::Non-Billable::[Labor Cost Element]||Time||Yes||No||Diluted Bill Rate * Hours|
|Bill::Non-Billable::[ODC Cost Element]||Expense||Yes||No||Amount * Markup|
|Bill::Non-Billable::Unmapped Expense||Expense||No||No||Amount * Markup|
|Bill::Non-Billable::Unmapped Labor||Time||No||No||Diluted Bill Rate * Hours|
|Bill::Unmapped Expense||Expense||No||Both||Amount * Markup|
|Bill::Unmapped Labor||Time||No||Both||Diluted Bill Rate * Hours|
|Cost::[Indirect Cost Element]||Time/Expense||Yes||Both||Indirect Cost Formula|
|Cost::[Labor Cost Element]||Time||Yes||Both||Diluted Cost Rate * Hours|
|Cost::[ODC Cost Element]||Expense||Yes||Both||Amount|
|Cost::Billable::[Indirect Cost Element]||Time/Expense||Yes||Yes||Indirect Cost Formula|
|Cost::Billable::[Labor Cost Element]||Time||Yes||Yes||Diluted Cost Rate * Hours|
|Cost::Billable::[ODC Cost Element]||Expense||Yes||Yes||Amount|
|Cost::Billable::Unmapped Labor||Time||No||Yes||Diluted Cost Rate * Hours|
|Cost::Non-Billable::[Indirect Cost Element]||Time/Expense||Yes||No||Indirect Cost Formula|
|Cost::Non-Billable::[Labor Cost Element]||Time||Yes||No||Diluted Cost Rate * Hours|
|Cost::Non-Billable::[ODC Cost Element]||Expense||Yes||No||Amount|
|Cost::Non-Billable::Unmapped Labor||Time||No||No||Diluted Cost Rate * Hours|
|Cost::Unmapped Labor||Time||No||Both||Diluted Cost Rate * Hours|
|Hours::[Labor Cost Element]||Time||Yes||Both||Hours|
|Hours::Billable::[Labor Cost Element]||Time||Yes||Yes||Hours|
|Hours::Non-Billable::[Labor Cost Element]||Time||Yes||No||Hours|
|Revenue::Additional Items||One time invoice charges||No||Yes|
|Revenue::CP||Billable Costs + Fee||Yes||Yes||Costs + Fee |
(w/Rate from Billing Setup)
|Revenue::Fee Cap Adjustments||Calculated Fee + Fee Cap||Yes||Yes|
|Revenue::FP||FP items||No||Both||FP revenue rules|
|Revenue::Funding Cap Adjustments||Calculated Revenue + Funded Value Cap||Both||Yes|
|Revenue::Gross (before write-offs and adjustments)|
|Revenue::TM Labor||Time||Both||Yes||Diluted Bill Rate * Hours|
|Revenue::TM ODC||Expense||Both||Yes||Amount * Markup|
|Total Mapped::Cost||Time / Expense / Indirect Costs||Yes||Both|
|Total Mapped::Indirect Cost||Time / Expense||Yes||Both|
|Total Mapped::Labor Bill||Time||Yes||Yes||Diluted Bill Rate * Hours|
|Total Mapped::Labor Cost||Time||Yes||Both||Diluted Cost Rate * Hours|
|Total Mapped::Labor Hours||Time||Yes||Both||Hours|
|Total Mapped::Other Direct Bill||Expense||Yes||Yes||Amount * Markup|
|Total Mapped::Other Direct Cost||Expense||Yes||Both||Amount|
The tags available for creating Actuals formulas include the following primary categories (the primary categories are identified by the first segment of the tag name):
- Bill - Calculated as hours times bill rate for labor transactions and cost times (1 + markup) for expense transactions for any transactions where the labor rate and/or markup have been specified. This value is calculated for all billing types. For TM billing types, it will equal the amounts used to determine revenues for billable transactions, but is also calculated for non-billable transactions and can be used to highlight the opportunity cost related to non-billable transactions. For FP and CP billing types, the amount can be used as a goal value that can be compared to revenues generated (e.g. compare target bill value to revenue earned on FP projects).
- Cost - Include the direct cost amounts associated with transactions and indirect costs calculated on those costs based on Indirect Cost Rate selected when you run the report.
- Hours - Actual hours charged to the project.
- Report - Values calculated in other rows in the report.
- Total Mapped - Total Bill, Cost, and Hour amounts across all Cost Elements broken out by Cost Element type (Labor, Other Direct and Indirect). These are there to make it easier to set up certain reports where you do not need to break out by Cost Element. They do not include Unmapped amounts (see below for discussion of Unmapped).
- Actuals Fee Calculation Method - Fee that would be earned on the project based on the Fee Method(s) set up for the project and the costs calculated in the report using the Indirect Cost Rate selected when you run the report. This does take into account any Fee Caps.
- Revenue - Revenues calculated based on transactions included in the report. Values calculated for these tags include values calculated by the billing post plus revenue values that would be calculated by the billing post for transactions included in the report that have not yet been included in a billing post. The categories include:
- CP (Gross) - Revenue earned on CP projects based on the Indirect Cost Rate specified in Admin > Setup > Cost Structure > Indirect Cost Rates without regard to any adjustments or write-offs.
- FP (Gross) - Revenue earned on FP projects or tasks without regard to any adjustments or write-offs.
- TM Labor (Gross) - Revenue earned on Labor transactions on TM projects or tasks without regard to any adjustments or write-offs.
- TM ODC (Gross) - Revenue earned on ODC transactions on TM projects or tasks without regard to any adjustments or write-offs.
- Additional Items - Revenue earned based on Additional Items included in invoices.
- Gross (before adjustments and write-offs) - The sum of (a) through (e) above.
- Fee Cap Adjustments - Adjustments necessary to bring fee amount recognized in the CP (Gross) amount down to the maximum fee specified for the fee method in the project.
- Funding Cap Adjustments - Adjustments necessary to reduce revenue recognized at the project or task level down to the funded value specified for those projects or tasks where the Limit Revenue to Funded Value Less Fixed Fee check box is selected. Note that Additional Items are not considered in this calculation.
- Write-offs - Write-offs taken on invoices.
- Total (Net) - The sum of (f) through (i) above.
The Bill, Cost and Hours primary categories are broken out into the following subcategories:
- Billable - Represents transactions charged to a billable project type.
- Non-Billable - Represents transactions not charged to a billable project type.
- Blank - Represents the total of the billable and non-billable amounts.
Note that non-billable direct costs included in the report will also have indirect rates applied as defined in the Cost Structure setup. The setup of a non-billable cost report give an organization visibility into the true total cost of non-billable items and into the theoretical billable value of those efforts.
The Bill, Cost and Hours primary categories are also broken out by cost element as follows:
- Bill - Broken out by Labor, Other Direct cost element types.
- Cost - Broken out by Labor, Other Direct and Indirect cost element types.
- Hours - Broken out by Labor cost element types.
In addition to the breakdown by Cost Element, the Bill, Cost, and Hours primary categories and subcategories transactions that are not related to a Cost Element are categorized into Unmapped Labor and Unmapped ODC buckets to assure that all costs charge to a project are reflect in the cost reports.
Note: Since all of the indirect rate calculations are based on Cost Elements, no indirect cost are associated with the unmapped direct costs.
Default or Standard Cost Report - This would apply to most billable projects.
Non-billable charges - This would apply to non-billable projects to capture the full value or fully burdened costs of non-billable efforts.
Project Profit - Summary of overall profitability of billable projects, including indirect costs.
Revenue Analysis - To run analysis based on actual versus billable values, or cost plus rate comparisons.
Unmapped - Find and identify those costs that are unmapped.