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
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"
The report shows revenue, expenses, and net profit broken down by each branch registered in your company. This allows you to assess the financial performance of each Project separately for the same time period and clearly identify operational differences between Projects. It also helps you understand how each account affects the final result whether profit or loss.
Unlike traditional report filtering, this report provides a parallel and detailed comparison across Projects. It also helps identify any financial records that are not linked to a specific Project (such as values appearing under the "Unassigned" column), allowing you to improve the accuracy of financial allocations.
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
Filter by supplier, customer, branch, project, or cost center
Export the report in PDF or Excel format
Note: You cannot customize the columns in this report. Some columns are fixed and essential for ensuring the integrity and accuracy of your financial statements.
Comments
0 comments
Please sign in to leave a comment.