How to track revenue in Scoro?

Monitoring your revenue stream helps you understand how much income your ongoing projects generate so you can protect your cash flow. In Scoro, you can track revenue:

• At the project level by using the Quoted vs Actual table
• At the portfolio level by using the WIP report or the detailed work report

This article provides a high-level overview of how revenue tracking works at the project and portfolio levels. 

1. Tracking revenue at the project level

1.1. In the Quoted vs Actual table

The easiest way to track revenue at the project level in real time is with the Quoted vs Actual table, accessible in the Budget tab in the project view.

Because the Quoted vs Actual table (QvsA for short) requires quoted data, your project must be linked to at least one successful quote to enable this table. We also highly recommend creating your tasks from the quote to make data tracking as easy as possible. Learn more about the prerequisites for using the QvsA table.

The Earned revenue column in the QvsA table tracks how much you have theoretically earned with the work you’ve completed so far. For example, if you’ve already completed 50 hours worth of work, you can see what that means in terms of actual revenue. 

• Earned revenue is calculated by multiplying completed hours (including past scheduled time entries not marked as done) by the unit price.
• The unit price can be role-based or service-based, depending on the revenue calculation method you've chosen for your project.

2. Tracking revenue at the portfolio level

2.1. In the WIP report

The work in progress (WIP) report, available under Reports > WIP report, shows a list view of all your ongoing projects and how much revenue each has generated. You can customize the WIP report to filter out specific projects, include projects with different statuses, or anything else you'd like.

To see how your project portfolio is currently doing income-wise, enable the following data columns (and don’t forget to bookmark these useful views for easier access later!):

• Income – shows revenue based on the invoices you have issued.
• Progress-based revenue – shows you a rough estimate of how much revenue you can already recognize based on project progress. The budgeted income is multiplied by progress, i.e., the amount of work already done. For example, if you have a project with a budget of 2000 EUR and you have completed 10% of it, this column would show 200 EUR.
• Earned revenue – shows you how much you have theoretically earned based on the work that’s been completed so far. The number of completed hours is multiplied by the unit selling price. The unit selling price is either role-based or service-based, depending on which revenue calculation method is used in the project.

2.2. In the detailed work report

You can also use the detailed work report, available under Reports > Work > Detailed report, to get a portfolio-level overview of incoming revenue. The detailed work report shows only the revenue generated by your in-house team; it does not include revenue earned with the help of outsourced services.

To track income across projects in the detailed work report, set the primary grouping (the first Grouped by filter) to 'Projects' and secondary grouping (the other Grouped by filter) to 'Overview'. The Selling price column indicates the earned revenue – the completed (billable) hours are multiplied by the unit selling price. The unit selling price is either role-based or service-based, depending on the revenue calculation method used in the project.

You can also use the following detailed work report filters to dive deeper into the data behind the revenue number. For example, you can:

• Group data by Users to see how much revenue each team member is bringing in.
• Group data by Activity types to see which activities drive your revenue.