Revenue calculation

Introduction

The revenue in Timmi Project is based on the project progress. The revenue is calculated when time is spent on the project in Timmi Timesheet.

The revenue of time spent on a project depends on the billing mode.

Fixed-price projects

For a fixed-price project, Timmi Project will first calculate the progress made on the project, i.e. the ratio between the cost of the time spent and the revised value of the budget. Timmi Project then aplies this progress rate to the selling price to calculate the revenue made by the time spent.

For example, let us consider a project selled €10,000€ for a budget of €5,000. An employee declares time on this project, for a cost of 1 000€. This represents a progress of +20% on the project.

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The revenue generated by this time spent is therefore €2,000 (10,000*20%).

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Time & materials projects

For a time & materials project, the revenue is calculated by multiplying the time spent and the bill rate.

For example, let's say project DEF was sold €1,500/day, and that Marie has worked 2 days on this project. The revenue is €3,000.

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