budget net profit gross profit profit/loss profit loss statement profit loss guide video Reviewing Your Forecast Profit/Loss

This video will guide you through your budget's profit loss screen.  It's a simple, but important screen showing you your total sales, total expenses, and your forecast gross and net profit.

 Watch this video to learn:

  • How to read/use your budget's profit/loss screen
  • Steps you can take to improve your budget's net profit

 

Reviewing your Profit/Loss Tab

The Profit & Loss area of your budget will display the following:

  • Your Sales Revenue, broken down by line item, with a Total Income line.

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  • Your Costs of Goods Sold, broken down by Field Labor Wages/Burden, Field Equipment Costs, Material Costs and Subcontracting Costs.  
    • This area will also indicate a Total for your Job Expenses.
    • Your Total COGS will also be indicated via percentage of Total Income.

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  • Your Overhead, broken down by Overhead ExpensesOverhead Equipment and Overhead Payroll.
    • This area will also indicate a Total for your Overhead Expenses, indicated by both amount and percentage.

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  • The Profit section of the Profit & Loss tab will indicate both Gross Profit and Net Income.
    • Your Gross Profit is calculated by taking your Sales Revenue and removing your Total COGS (Job Expenses).
    • The Gross Profit will be indicated by both amount and percentage.

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  • Your Net Income (Profit) is calculated by taking your Sales Revenue and removing your Total COGS (Job Expenses) and your Total Overhead Expenses.
    • The Net Income (Profit) percentage will be built into each estimate you bid.
    • If you are unhappy with the percentage indicated, click HERE.

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