Profit and Loss by Project

The Profit and Loss by Project report is used to analyze the financial performance of each project individually, including revenue, expenses, and net profit. It provides a detailed view of how efficiently each project is managed and how it contributes to the overall profitability of the company.

This report is essential for businesses that rely on project-based operations, such as construction, technology, and professional services firms, where financial transactions are recorded and managed based on the project as an independent entity.

Unlike Profit and Loss reports by branch or cost center, this report focuses on an operational unit that is tied to a specific timeline, budget, and defined objectives.

It allows you to compare performance across projects or examine a specific project's results in detail, supporting decisions such as:

• Extending or closing a project

• Adjusting service pricing

• Controlling operational costs

In this guide, we’ll walk through how to access the report and how to interpret the data it provides.

For more information on the standard Income Statement, check out this guide.

Why is this report important?

The Profit and Loss by Project report helps you:

• Analyze revenue, expenses, and net profit for each project individually

• Measure each project’s profitability and compare it to others

• Track actual costs against the project’s planned budget

• Identify unprofitable projects or those that exceeded their cost expectations

• Improve pricing accuracy for future projects using real data

• Support decisions to terminate, expand, or re-scope projects

• Strengthen internal control over budget execution and resource allocation

Reports Interface Details

The Reports interface has been redesigned with greater accuracy and organization to provide a more efficient and flexible reporting experience, making it easier to access, review, and analyze your business data based on your operational needs.

Available Features in the Reports Interface:

• Pin Reports Feature:
  You can pin your most important or frequently used reports by clicking on the “Pin” option, allowing them to appear at the top of the Reports page for quicker access without needing to search through all reports each time. You can also unpin reports at any time by clicking the same option again.

• Summary or Detailed View:
  When selecting a report, you can choose how you would like the data to be displayed:

  1 - Summary View to display key information such as accounts and amounts.

  2 - Detailed View to access more in-depth information such as customers, notes, or any additional details added to your transactions.
  This feature helps you analyze your data with the level of detail that best suits your needs.

• Reports Categorization:
  Reports are organized into clear categories to help you quickly find the right report based on the type of information you need, such as reports related to cost centers, projects, and other classifications.
  This organization saves time and effort while providing more accurate and structured reporting insights.

How to view and read the Profit and Loss by Project report in Wafeq?

To open the report go to "Reports" from the main menu Under the "Financial Reports" section, select "Profit and Loss by Project"

From the top of the report, you can:

• Select a predefined date range or set a custom time period

• Choose the currency to display the report in

• Add Filter by supplier, customer, branch, project, or cost center

• Export the report in PDF or Excel format