Projects

The Projects tab in Manager.io is a powerful tool designed to help you track the income, expenses, and overall profitability of individual contracts, customer relationships, or specific clusters of work. This feature allows you to monitor the financial performance of each project separately, providing valuable insights into your business operations.

Creating a New Project

To create a new project:

1. Navigate to the Projects tab in the left-hand menu.

2. Click the New Project button at the top of the screen.

   ProjectsNew Project

3. Enter a title for your project in the Name field.

4. Fill in any additional details as needed.

5. Click Create to save the new project.

Assigning Transactions to a Project

Once your project is set up, you can link relevant financial transactions to it. When entering income or expenses:

• Look for the Project drop-down menu within the transaction form.
• Select the appropriate project from the list.

This links the transaction to the project, ensuring accurate tracking of all associated income and expenses.

Assigning Purchase Orders

Purchase orders can also be assigned to projects:

• When creating a purchase order, select the relevant project from the Project drop-down menu.

Although purchase orders are not actual costs until they are invoiced, assigning them to a project allows you to anticipate potential upcoming expenses. They will appear under the Purchase Orders column in the Projects tab.

Monitoring Project Financials

The Projects tab provides a comprehensive overview of each project's financial status through several key columns:

Name

Title of the project. This helps you identify and distinguish between different projects.

Income

The total income assigned to the project. This includes all revenue linked to the project through sales invoices, receipts, and other income transactions.

Expenses

Cumulative expenses allocated to the project. This encompasses all costs recorded against the project, including purchase invoices, payments, and expense claims.

Profit

Net profit calculated by subtracting Expenses from Income. This figure represents the project's profitability. Clicking on the profit amount redirects you to a detailed Profit and Loss Statement for the project, providing an in-depth analysis of income and expenses.

Purchase Orders

Shows the total value of un-invoiced purchase orders assigned to the project. Clicking on the amount displays a list of all purchase orders linked to the project that are pending invoice processing. This helps you keep track of upcoming expenses that have been committed but not yet realized.

Revised Profit

The Revised Profit adjusts the net profit by subtracting the cost of uninvoiced purchase orders. This provides a more accurate reflection of the project's financial status by considering pending expenses.

Example: If the profit is $10,000 and there are $2,000 in uninvoiced purchase orders, the revised profit would be calculated as:

Revised Profit = Profit - Purchase Orders
Revised Profit = $10,000 - $2,000
Revised Profit = $8,000

This adjusted figure helps you anticipate the actual profitability after all pending costs are accounted for.

Utilizing Project Reports

By leveraging the project's detailed financial data, you can:

• Assess the profitability of individual projects.
• Identify areas where expenses may be reduced.
• Make informed decisions about future investments or resource allocation.

Regularly reviewing the Profit and Loss Statement for each project ensures you stay informed about its financial health.

Conclusion

The Projects feature in Manager.io empowers you to manage your business more effectively by providing granular insights into each project's financial performance. By assigning transactions to projects and monitoring their income and expenses, you can optimize operations and enhance profitability across your business endeavors.