Project Financials Report

The Project Financials Report allows you to compare the current state of a project's financials, phase by phase, by combining logged time and invoice totals into one report.

Within this report, you're able to easily see each phase's Status, Planned Budget/Max Cap, percent Complete, total fees Billed, total fees Logged, total fees Unbilled, total amount of Paid invoices, total amount of Open invoices, and the total amount of Past Due invoices.

For this report to be accurate, you'll need to create Invoices for your projects within Monograph.

🚨 This report can only be accessed by users who have "Can Edit All Projects" or "Can Edit Assigned Projects" permissions enabled.

Viewing Payments in Project Financials Reports

As a project's invoices are paid, you will be able to view the total amount paid towards a project in the Paid column. You can also see the paid amount breakdown for each phase.

📚 Learn more about getting paid in Monograph here!

Why is the Project Financials Report important?

It's important to understand where your organization sits in terms of work you've already completed for a project, compared to total work planned, total work billed, and total work paid for that project.

This report gives you great financial insights on a project, such as:

  • The total amount of hours and fees that have been logged on a phase compared to how much has been billed.

  • The total amount that has been billed for the project but not paid by the client.

  • The percentage of the budget that has been used for each phase.

  • What unpaid amounts are past due.

📚 Unsure of what needs to be invoiced for your projects? Use the Unbilled Report to keep up with any unbilled work across all projects.

How the Project Financials Report is Calculated

The Project Financials Report is calculated using time logged within Timesheets, in conjunction with each phase's budget in the Project Planner and the total amounts invoiced and marked as paid within Invoices. Without all of this information being completed, your report will be inaccurate.

Here is how the math works:

  • Planned/Max Cap - the total fee or max cap fee.

  • % Complete - the percent of the total/max cap that has been previously invoiced.

  • Billed - the total amount of fees invoiced to date (not including drafts).

  • Logged - the total amount of fees logged in timesheets to date.

  • Unbilled - the total amount of value that has been logged in timesheets but not billed.

  • Paid - the total amount of fees in Invoices marked as paid.

  • Open - the total amount of fees in Invoices that are unpaid and not past due.

  • Past Due - the total amount of fees in Invoices that are unpaid and past the invoice due date.

  • Other - the total amount of fees invoiced that are not tied to a phase within Invoices. Allocate these amounts to Phases by editing invoices.

🎓 Logged and Unbilled totals do not include hours without a Role. Use the Audit Timesheet feature to ensure that your team's time logged for each Phase is associated with Roles.

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