On project financials tab you have the possibility to forecast billing and expense related figures. The forecasts are calculated based on fees and advanced resourcing. When you click the Update forecast a prompt is shown to select what forecasts to update. Before confirming, you can also see if some previously entered values are going to be overwritten.

Update forecast calculates figures for current and future months (never backward).

How advanced resourcing works as a basis of the calculations:

  • Revenue forecast: price of the user's default work type * hours allocated to the user during the given month.
    • If there is a default work type set for the project or the phase with the resource allocation, that work type is used instead of the user's default work type.
    • If there is a phase-specific exception in pricing, that exception price is used in the calculation.
    • If an allocation spreads over several months, the division between months is based on workdays.
  • Billing forecast: same logic as with revenue forecast, but will only be calculated if the specific work type has Bill selection in the price list.
  • Labor expenses forecast: cost per hour defined in the user's work contract * quantity of hours allocated to the given month.
    • If there are project-specific cost per hour exceptions defined for the user, those are used in the calculation.

How fees work as a basis of the calculations:

  • The first month is determined based on the Start date selection.
  • “Repeat every” defines the frequency of occurrences after the start date.
  • When recurrence end is after X times, as many occurrences are created as the user has defined in the Times field.
  • When recurrence end occurs on date, fees are created into the forecast until the month of the end date.
  • With Never selection, occurrences for 12 months forward are created.

When revenue recognition add-on is enabled, it is not possible to enter revenue forecasts manually for projects in project financials tab.


Keywords: project financials, update forecast, revenue forecast, billing forecast, labor expenses forecast, advanced resourcing, fees, default work type, cost per hour exceptions, revenue recognition

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.