Product Updates: August 2020

Published by Miel on

Another month, another update! August marks the release of the brand new Job Profit report, along with some minor tweaks to other areas of the system.

Job Profit Report

The job profit report gives you an in-depth analysis of completed jobs and their profitability. It has a main jobs table and offers 3 summary tables and graphs.
The main jobs table shows you revenue, costs, gross profit, profit per hour etc. But the most interesting info is the job recovery data.
Job recovery represents how much of the sell value of the job was invoiced out to the client. A job worth £5000 (sell value), that was billed for only £4000 has an 80% recovery and a £1000 non billable value (20% of the job was not billed).
The job profit report will move on to give you summaries of job profit summarised by client, by account manager and by job type, so you can see which clients or types of work are worth the effort.
You can manually exclude jobs from the report or use specific job labels to have them excluded automatically.

Job details table
Profit summaries by account manager, job type and client.

Minor tweaks:

  • You can now update your Streamtime staff list directly from the Team Preferences > Streamtime Team, where before you had to open up the connection wizard. Updating the staff list from here makes more sense.
    As a reminder: staff working time updates, hibernations and new staff aren’t automatically synchronised to wayahead. Even though the update could be programmed to run every time you run a report, it would slow things down unnecessarily.
  • We made some improvements to the language used in the reports and introduced some consistency in the terminology. Mainly the term ‘gross profit’ was used in a wrong way, as pointed out by several accountants.
    From now on, the two terms used are “gross profit” and “contribution”:
    Gross profit = Invoiced – 3rd party costs – labour cost (time)
    Contribution = Invoiced – 3rd party costs
  • Some minor bug fixes.
Categories: Product update