Actual Revenue

Authorized users can control a work item’s Actual Revenue in the Revenue or Extended Budget view of either the Work Items page or the Current Project page or work item Properties card.   

The Actual Revenue is recalculated for the  Billable work items each time the Actual effort, invested in the work item, gets updated.  

Actual effort can change as a result of the hourly reports in the timesheet or direct reporting of %Completed or Actual and Remaining effort on the work item level.

Note:

To allow automatic update of the Reportable work item’s Actual effort from the timesheet be sure to set an* Enable calculation of Actual Effort & Progress based on timesheet reportingoption in the Time Tracking* section of the system settings.

The system automatically calculates Actual Revenue of the Non timesheet  Reportable work item having sub-items as a sum of:

• Accumulative Actual Revenue of the sub-items or Fixed Price, if defined for the work item
• Actual  Billed Expenses accrued on the work item (see more about Actual Billed Expenses in the  Work Item Financila Data section)

The Actual Cost of a specific “leaf” work item, or a timesheet Reportable work item, is calculated as a sum of:

• Actual Regular and Overtime Efforts of the resources assigned to the task and their respective hourly*Billing Rates or Fixed Price*, if defined for the work item.
• Actual Billed Expenses accrued on the work item (see more about Actual Billed Expenses in the  Work Item Financila Data section)

Note:

1. Fixed Price is calculated into the Actual Revenue only upon 100% completion of the work item. 2. The Actual Revenue takes into account the effort already invested in the tasks that were canceled during the Active phase of the projects, but does not take into account the effort that was invested into tasks that were deleted.

User can:

• See the actual revenue of the selected work item. 
• Manually enter the actual revenue. In this case, the cell is marked by a blue triangle. This value overrides the system calculated value and it will be used to calculate the revenue of work items higher in its hierarchy.
• Clear the Manually-set indicator (blue triangle), thereby letting the system automatically recalculate the revenue.