User level: Director and above
Previous steps: N/A
The Business dashboard will help you keep track of key business areas like invoiced revenue, work charged, WIP and recoverability. It's a combination of numeric and graphic figures and can be viewed either monthly or cumulatively.
The following is included in the Business dashboard:
Invoiced revenue is the sum of adjusted amounts for the past one year. Adjusted amount is total invoiced amount minus credit and write off, for past one year.
This represents the amount of revenue that could be charged if everything is/was invoiced at full rates.
NOTE: Often this is not the case, as Time & Expense may be written up, down or off in accordance with progress on the deliverables.
It represents the whole of WIP, Invoiced & Cost that has been Written Off. This figure excludes the Internal project, and is based on the Transaction Value, filtered by the date of the transaction.
This represents potential income - WIP Total disregards what has already happened and identifies only what remains complete but not paid for. It's the total chargeable value for the past year for the transactions in WIP or draft invoice status, excluding non billable stages.
WIP > 60 days
In its simplest form Aged WIP represents cost that has not yet been invoiced. It's the total chargeable value for the past year for the transaction in WIP or draft invoice status excluding non billable stages, where the transaction date is more than 60 days old.
Debtors > 60 Days
This shows the amount of money that has been invoiced to clients and they have not paid for up to 60 days. This can be calculated according to the Invoice Date or the Due Date depending on our settings in Config. It's calculated by the sum of invoice owing including tax, where the invoice status “Owing “ and it’s older than 60 days from invoice due date/invoice date (depending on org configuration).
Work & Invoiced Revenue per Period
This is a sum of the Worked Charge report and Invoice Revenue report.
Ideally you will want to see the same amount each month but often you will find there will be variation in the figures with a working goal of balancing them all at the end. The gap between the two figures represents WIP Recovery.
This refers to WIP Recovery which can be defined as the difference between the potential income (Worked Charge) and the Invoiced revenue.
Recoverability = (Invoiced Charge/Worked Charge) * 100
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