{"id":8571,"date":"2022-07-19T13:00:00","date_gmt":"2022-07-19T11:00:00","guid":{"rendered":"https:\/\/beebole.com\/blog\/?p=8571"},"modified":"2026-08-06T11:22:59","modified_gmt":"2026-08-06T09:22:59","slug":"how-to-calculate-project-profitability","status":"publish","type":"post","link":"https:\/\/beebole.com\/blog\/how-to-calculate-project-profitability","title":{"rendered":"How to calculate project profitability using time tracking data: Everything you need to know [Excel tutorial]"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">If you bill clients based on the time you spend, here\u2019s a pop quiz: which projects make the most money? Or even more importantly: which projects <em>aren\u2019t <\/em>profitable? If you don\u2019t know the answer to these questions, it\u2019s time to start thinking about <strong>project profitability<\/strong>, a measurement of revenue billed versus time and cost expended.<\/p>\n\n\n<div  class=\"position-relative bbl-summarize-w-ai-block\">\n    <div class=\"bbl-swa-inner \">\n        <div class=\"bbl-swa-inner-top\">\n                            <div class=\"bbl-swa-title\">\n                    TL;DR: What you&#8217;ll learn                <\/div>\n            \n                            <div class=\"bbl-swa-quote montserrat-font\">\n                    <p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Knowing whether a project actually makes money takes more than a gut check. It takes a repeatable way to compare what you billed against what it cost to deliver. This guide walks through building that analysis by hand in Excel, plus the faster path to the same numbers.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Here&#8217;s what this article covers:<\/p>\n<ul class=\"[li_&amp;]:mb-0 [li_&amp;]:mt-1 [li_&amp;]:gap-1 [&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3 print:block print:space-y-1\" dir=\"ltr\">\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\"><strong>The 4 measures of project profitability<\/strong>: Net profit margin, ROI, payback period, and NPV, and when each one tells you something different<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\"><strong>The three data sets you need<\/strong>: Time tracking, billing, and fully-loaded cost data (and how to structure each one for analysis)<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\"><strong>A step-by-step Excel Power Pivot method<\/strong>: Merging hours, billing, and cost tables into a single model with calculated profitability measures<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\"><strong>How to read the results in a dashboard<\/strong>: Spotting unprofitable projects and seeing which employees or projects carry the highest margins<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\"><strong>The faster alternative<\/strong>: How Beebole&#8217;s built-in billing rates, cost rates, and profitability reports get you the same answers without spreadsheets, updated in real time<\/li>\n<\/ul>\n                <\/div>\n                    <\/div>\n\n        <div class=\"bbl-swa-actions d-flex justify-content-between\">\n                                                <div\n                        class=\"bbl-swa-actions-label montserrat-font bbl-wider-label\"\n                    >Biggest profitability mistakes (+ how to fix them):<\/div>\n                            \n            <div class=\"bbl-swa-logos-outer d-flex\">\n                                <div class=\"bbl-swa-logos\">\n                                            <a\n            class=\"bbl-summarize-w-chatgpt\"\n            href=\"https:\/\/chat.openai.com\/?q=Please%20read%20the%20article%20at%20%20https:\/\/beebole.com\/blog\/how-to-calculate-project-profitability.%20Based%20on%20what&#039;s%20in%20this%20article,%20pull%20out%20the%20biggest%20mistakes%20teams%20make%20when%20calculating%20project%20profitability,%20plus%20one%20practical%20fix%20for%20each%20that%20I%20could%20put%20in%20place%20this%20week.%20Stick%20to%20only%20what%20this%20article%20says%20\u2014%20no%20outside%20information%20or%20generic%20knowledge.%20Present%20each%20mistake%20and%20fix%20clearly%20and%20concisely.\"\n            rel=\"nofollow noopener noreferrer\" target=\"_blank\"\n        >\n            <svg width=\"28\" height=\"26\" viewBox=\"0 0 28 26\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                <mask id=\"mask0_1578_5676\" style=\"mask-type:luminance\" maskUnits=\"userSpaceOnUse\" x=\"0\" y=\"0\" width=\"28\" height=\"26\">\n                    <path d=\"M27.1171 0H0.882935V26H27.1171V0Z\" fill=\"white\"\/>\n                <\/mask>\n                <g mask=\"url(#mask0_1578_5676)\">\n                    <path d=\"M10.9449 9.46396V6.99394C10.9449 6.78592 11.023 6.62986 11.2049 6.52598L16.171 3.66598C16.847 3.276 17.6531 3.09409 18.4849 3.09409C21.6049 3.09409 23.581 5.51214 23.581 8.08603C23.581 8.26799 23.581 8.47602 23.555 8.68404L18.4069 5.66798C18.095 5.48608 17.7828 5.48608 17.4709 5.66798L10.9449 9.46396ZM22.5409 19.084V13.1819C22.5409 12.8178 22.3848 12.5578 22.0729 12.3759L15.5469 8.57989L17.6789 7.35781C17.8609 7.25393 18.0169 7.25393 18.1989 7.35781L23.165 10.2178C24.5951 11.0499 25.557 12.8178 25.557 14.5337C25.557 16.5097 24.3871 18.3297 22.5409 19.0838V19.084ZM9.41092 13.8841L7.27892 12.6361C7.09702 12.5323 7.01893 12.3761 7.01893 12.1681V6.44817C7.01893 3.66625 9.15093 1.5601 12.037 1.5601C13.1291 1.5601 14.1429 1.92419 15.0011 2.57416L9.87915 5.53826C9.56725 5.72016 9.41119 5.98015 9.41119 6.34429V13.8843L9.41092 13.8841ZM14 16.536L10.9449 14.82V11.1802L14 9.46423L17.0548 11.1802V14.82L14 16.536ZM15.963 24.4401C14.8709 24.4401 13.8571 24.076 12.9989 23.4261L18.1208 20.462C18.4328 20.2801 18.5888 20.0201 18.5888 19.6559V12.1159L20.7469 13.3639C20.9288 13.4677 21.0069 13.6238 21.0069 13.8319V19.5518C21.0069 22.3337 18.8488 24.4399 15.963 24.4399V24.4401ZM9.8009 18.6421L4.83475 15.7822C3.40464 14.95 2.44277 13.1822 2.44277 11.4662C2.44277 9.46423 3.63879 7.67025 5.48467 6.91618V12.8442C5.48467 13.2082 5.64079 13.4682 5.95269 13.6502L12.4528 17.4201L10.3208 18.6421C10.1389 18.746 9.98281 18.746 9.8009 18.6421ZM9.51507 22.9061C6.57704 22.9061 4.41898 20.6961 4.41898 17.9661C4.41898 17.7581 4.44504 17.55 4.47089 17.342L9.59288 20.3061C9.90478 20.4881 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                                                          <a\n            class=\"bbl-summarize-w-claude\"\n            href=\"https:\/\/claude.ai\/new?q=Please%20read%20the%20article%20at%20%20https:\/\/beebole.com\/blog\/how-to-calculate-project-profitability.%20Based%20on%20what&#039;s%20in%20this%20article,%20pull%20out%20the%20biggest%20mistakes%20teams%20make%20when%20calculating%20project%20profitability,%20plus%20one%20practical%20fix%20for%20each%20that%20I%20could%20put%20in%20place%20this%20week.%20Stick%20to%20only%20what%20this%20article%20says%20\u2014%20no%20outside%20information%20or%20generic%20knowledge.%20Present%20each%20mistake%20and%20fix%20clearly%20and%20concisely.\"\n            rel=\"nofollow noopener noreferrer\" target=\"_blank\"\n        >\n            <svg width=\"32\" height=\"32\" viewBox=\"0 0 32 32\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                <path d=\"M7.66688 21.2213L13.3509 18.0321L13.4465 17.7551L13.3509 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12.1861H18.8946L19.1872 11.8935L20.3712 10.3213L22.3608 7.83428L23.2386 6.84728L24.2626 5.75688L24.92 5.23802H26.1625L27.0774 6.5976L26.6677 8.00203L25.3881 9.62494L24.327 11.0001L22.8055 13.0483L21.8556 14.6868L21.9434 14.8175L22.1696 14.796L25.6066 14.0645L27.4636 13.729L29.6795 13.3486L30.6821 13.8168L30.7913 14.2927L30.3973 15.2661L28.0273 15.8513L25.2477 16.4072L21.1085 17.3864L21.0578 17.4235L21.1163 17.4956L22.9811 17.6712L23.7789 17.7141H25.7315L29.3674 17.9852L30.3173 18.6133L30.8869 19.3819L30.7913 19.9671L29.3284 20.7122L27.3544 20.244L22.747 19.1478L21.167 18.7538H20.9486V18.8845L22.2652 20.1719L24.6781 22.3507L27.6996 25.1596L27.8537 25.854L27.4655 26.4021L27.0559 26.3436L24.4011 24.3462L23.3771 23.4469L21.0578 21.4944H20.9037V21.6992L21.4382 22.4814L24.2607 26.724L24.407 28.025L24.2022 28.4483L23.4707 28.7038L22.667 28.5575L21.0149 26.2383L19.3101 23.6264L17.9349 21.2857L17.7671 21.3813L16.9557 30.1219L16.5753 30.5686L15.6975 30.9041L14.9661 30.3482L14.5779 29.449L14.9661 27.672L15.4342 25.3527L15.8146 23.5094L16.1579 21.2193L16.3627 20.4586L16.349 20.4079L16.1813 20.4294L14.455 22.7993L11.8295 26.3475L9.75208 28.5712L9.25467 28.7682L8.39251 28.3215L8.47248 27.5237L8.95428 26.8137L11.8295 23.1563L13.5636 20.8897L14.6832 19.5808L14.6754 19.3916H14.6091L6.97246 24.3501L5.61289 24.5256L5.02771 23.9775L5.09988 23.0783L5.37687 22.7857L7.67273 21.2057L7.66493 21.2135L7.66688 21.2213Z\" fill=\"#262C54\"\/>\n            <\/svg>\n        <\/a>\n                                                            <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">In addition to this written tutorial, <a href=\"https:\/\/www.youtube.com\/watch?v=R6ujuAiePec\" target=\"_blank\" rel=\"noopener\">you can also watch the recorded screencast on YouTube<\/a>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this tutorial, you\u2019ll learn <strong>how to calculate project profitability<\/strong> in Excel, using time tracking data from your employees. That means that you\u2019ll synthesize three key pieces of information &#8211; the time spent, the costs of delivering the product, and the revenue you bill &#8211; to understand your profitability.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"422\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/intro-project-profitability-700x422.png\" alt=\"Using time tracking data to calculate profitability in Microsoft Excel\" class=\"wp-image-8584\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/intro-project-profitability-700x422.png 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/intro-project-profitability-768x463.png 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/intro-project-profitability.png 934w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">After you follow this tutorial, you\u2019ll have an easy-to-analyze model to analyze project profitability in Microsoft Excel. With your finished project model, you can ensure that every project is profitable &#8211; and optimize your rates if they aren\u2019t.<\/p>\n\n\n\n    <div class=\"bbl-testimonials set_testimonials-block\">\n                    <div class=\"item\">\n                <div class=\"item-text\"><span data-sheets-root=\"1\">It certainly allows us to quickly assess company performance, typically on a weekly basis. This helps us make timely operational decisions at the project level, such as adjusting teams assignments to boost profitability or bringing in more qualified (and perhaps more expensive) team members when the budget allows. It&#8217;s an excellent tool for managing our resource mix.<\/span><\/div>\n                <div class=\"item-author\">\n                    Dmitri Savitski                                            ,                         <span class=\"position-company\">\n                            Solutions expert                                                             at                                                         InDataLabs\t                        <\/span>\n                                    <\/div>\n            <\/div>\n            <\/div>\n\n\n\n<h2 id=\"what-is-it\" class=\"wp-block-heading\">What is project profitability analysis? <\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Let&#8217;s have a look at <strong>project profitability analysis<\/strong> and how it&#8217;s related to project cost management.<\/p>\n\n\n\n<div  class=\"montserrat-font my-5 mx-auto bbl_definition_snippet\">\n  <div class=\"mb-4\">\n    <div class=\"bbl-ds-item question mb-3\">\n      <h2 class=\"h4 mb-0 mt-0\">What is project profitability analysis?<\/h2>\n    <\/div>\n    <div class=\"bbl-ds-item answer\">\n      <p><strong>Project profitability analysis<\/strong>\u00a0is an evaluation of the anticipated or actual profits generated from a project. It involves examining revenues, costs, and other factors to determine whether the project delivers adequate financial returns.<\/p>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Project profitability analysis and project cost management are closely intertwined in project management, as they both directly impact a project&#8217;s financial health.<\/p>\n\n\n\n<div  class=\"montserrat-font my-5 mx-auto bbl_definition_snippet\">\n  <div class=\"mb-4\">\n    <div class=\"bbl-ds-item question mb-3\">\n      <h2 class=\"h4 mb-0 mt-0\">What is project cost management?<\/h2>\n    <\/div>\n    <div class=\"bbl-ds-item answer\">\n      <p><strong>Project cost management<\/strong> involves planning, estimating, budgeting, and controlling costs so that the project can be completed within an approved budget. It focuses on effective allocation and control of resources to avoid <a href=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2023\/03\/analyzing-budget-vs.-actual-overrun.png\" data-type=\"attachment\" data-id=\"10801\">cost overruns<\/a> and ensure that every dollar spent contributes to the project&#8217;s objectives. It also involves <a href=\"https:\/\/beebole.com\/blog\/budget-vs-actuals-template-microsoft-excel\/\" data-type=\"post\" data-id=\"7687\">budget vs actuals analysis<\/a> to track cost performance, identify variances, and implement corrective actions to keep costs within budget.<\/p>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">The relationship between these two is that <strong>successful cost management can lead to better profitability<\/strong>. By effectively <a href=\"https:\/\/beebole.com\/blog\/budget-to-actuals-variance-analysis\/\">estimating and controlling project costs<\/a>, managers can minimize unnecessary expenditures, reducing the cost base against which profitability is measured.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, <strong>profitability analysis can inform cost management<\/strong>. By understanding which activities generate the most profit, project managers can make informed decisions on where to allocate or cut resources. Thus, combining robust cost management practices with insightful profitability analysis can lead to better financial performance and more successful projects.<\/p>\n\n\n\n<div\n    class=\"montserrat-font my-5 mx-auto p-4 p-lg-5 bbl_customer_story_blurb\"\n  style=\"background-image:url('https:\/\/beebole.com\/blog\/wp-content\/themes\/sage\/public\/images\/block-csb-bk.18ecf3.png')\"\n>\n  <div class=\"position-relative\">\n    \n    <div class=\"bbl-csb-text\">\n      <p data-start=\"100\" data-end=\"310\"><strong>If you\u2019re not tracking profitability like Rancho BioSciences, you\u2019re probably losing money.<\/strong> By ditching spreadsheets, they gained real-time visibility into 100+ active projects\u2014tracking hours, costs, and margins with total accuracy.<\/p>\n<p>With Beebole, they:<br \/>\n\ud83d\ude80Catch overruns before profits disappear<br \/>\n\ud83d\udccaInstantly compare actual vs. budgeted costs<br \/>\n\u2705Eliminate invoice disputes with airtight data<br \/>\n\ud83d\udd0eGive leadership the clarity to protect margins<\/p>\n    <\/div>\n\n          <a class=\"d-inline-block bbl-csb-link mt-2\" href=\"https:\/\/beebole.com\/blog\/how-to-avoid-project-cost-overruns\/\">\n        Read the case study\n        <svg width=\"14\" height=\"14\" viewBox=\"0 0 14 14\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n          <path d=\"M5.25 10.5L8.75 7L5.25 3.5\" stroke=\"#424240\" stroke-width=\"1.16667\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\n        <\/svg>\n      <\/a>\n      <\/div>\n<\/div>\n\n\n<h2 id=\"4-measures\" class=\"wp-block-heading\">What are the 4 measures of project profitability?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Project profitability is <em>often<\/em> evaluated using four primary measures:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Net profit margin<\/strong>: This is the percentage of profit a project makes after all costs and expenses are subtracted from the revenue. It gives a clear idea of the overall profitability of the project after accounting for all costs, including direct and indirect costs, overheads, taxes, and more.<\/li>\n\n\n\n<li><strong>Return on investment (ROI)<\/strong>: This metric evaluates the profitability of a project in relation to its total cost. It&#8217;s calculated by subtracting the cost of the project from the net profit, then dividing the result by the cost of the project. A higher ROI implies a more profitable project.<\/li>\n\n\n\n<li><strong>Payback period<\/strong>: This refers to the time it takes for the project to recoup its initial investment. It&#8217;s a critical measure for cash-flow sensitive businesses or projects with high upfront costs.<\/li>\n\n\n\n<li><strong>Net present value (NPV)<\/strong>: NPV is a measure that evaluates a project&#8217;s profitability by considering the time value of money. It compares the present value of cash inflows with the present value of cash outflows. If the NPV is positive, the project is considered profitable as the present value of its benefits exceeds the present value of its costs.<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">All these measures provide valuable insights into a project&#8217;s profitability, but none should be used in isolation. A combination of these measures can give a holistic view of a project&#8217;s financial viability.<\/p>\n\n\n<div  class=\"mb-4 call_to_action-block\">\n    <div class=\"call_to_action-blockcontent py-5 px-4 text-center border-top border-bottom\">\n                    <h4 class=\"call_to_action-header h2 mt-0\">Simplify Project Profitability Analysis<\/h4>\n                            <p class=\"call_to_action-text\">Better than sheets and Excel: Run effortless project profitability analysis with Beebole.<\/p>\n                <div class=\"call_to_action-btns btns-wrap d-block d-lg-flex justify-content-center mx-auto\">\n                            <a class=\"w-100 w-lg-auto btn btn-outline-primary me-lg-4 mb-3 mb-lg-0 bbl_cta_block_demo_btn \" href=\"https:\/\/beebole.com\/sales-call\" id=\"cta_post_8571_article_demo_1\">Book a Call<\/a>\n                                <\/div>\n    <\/div>\n<\/div>\n\n\n<h2 id=\"resources\" class=\"wp-block-heading\">Project profitability analysis: The resources you need<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before we jump in, make sure to download the finished project profitability dashboard to help you better follow each step below.<\/p>\n\n\n<div  class=\"my-5 mx-auto bbl_cta_assets_block bbl_cta_block bk-light\">\n\t<div class=\"bbl_cta_block-blockcontent d-block overflow-hidden position-relative rounded-4 text-decoration-none\">\n\t\t\t\t\t<div class=\"object-fit-cover position-absolute bbl-orange-dot-round\" style=\"background-image: url(https:\/\/beebole.com\/blog\/wp-content\/themes\/sage\/public\/images\/orange-dot-round.609972.svg)\"><\/div>\n    \t\t<div class=\"bbl_cta_block-row align-items-center d-flex flex-md-row justify-content-center mx-0 no-gutters position-relative row\">\n\t\t\t<div class=\"bbl_cta_block-img-col col d-flex justify-content-start pe-md-2 px-0\">\n\t\t\t\t<img\n\t\t\t\t\talt=\"Get the finished project profitability dashboard here, and follow the tutorial below.\"\n\t\t\t\t\tclass=\"d-block h-auto me-md-4 mw-lg-100\"\n\t\t\t\t\theight=\"251\"\n\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\tsrc=\"https:\/\/beebole.com\/blog\/wp-content\/themes\/sage\/public\/images\/promotion-download-asset.198bac.png\"\n\t\t\t\t\twidth=\"360\"\n\t\t\t\t\/>\n\t\t\t<\/div>\n\t\t\t<div class=\"bbl_cta_block-text-col col mt-md-0 ps-md-2 px-0\">\n\t\t\t\t\t\t\t\t\t<div class=\"mb-1\"><div class=\"bbl_cta_block-label font-weight-bold lh-base mb-4\">FREE EXCEL DASHBOARD<\/div><\/div>\n\t\t\t\t                  <div class=\"bbl_cta_block-title font-weight-bold lh-base\">Get the finished project profitability dashboard here, and follow the tutorial below.<\/div>\n        \t\t\t\t\t\t\t\t\t<div class=\"mt-1 pe-lg-0 pe-md-4\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"bbl_cta_block-cta-button w-100 w-lg-auto btn btn-outline-primary  me-lg-4 mb-3 mb-lg-0 mt-4 free-download-link\" href=\"https:\/\/docs.google.com\/uc?id=1e9Vo-cpXcyT7grWV53SiksS39nByc4k3&#038;export=download\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t\tGet my copy!            <\/a>\n          <\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n  <\/div>\n<\/div>\n\n\n<h2 id=\"choose-tool\" class=\"wp-block-heading\">The fastest alternative: Choose a tool that does it for you<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While knowing how to calculate project profitability in Excel is great, it&#8217;s even better when a tool is automated to do all of the heavy lifting for you. With Beebole&#8217;s incredibly easy-to-customize settings, all you need to do is define your <a href=\"https:\/\/beebole.com\/blog\/how-to-manage-billable-and-non-billable-hours\/\">billing rates<\/a> and costs in order <a class=\"highlighted-link bbl-link-hs bbl-link-hs-v-1\" href=\"https:\/\/beebole.com\/employee-timesheet-reports\/\"><span>to run your very own project profitability report,<svg width=\"17\" height=\"18\" viewBox=\"0 0 17 18\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11.25 0.875H15.625C15.7908 0.875 15.9497 0.940848 16.0669 1.05806C16.1842 1.17527 16.25 1.33424 16.25 1.5V5.875C16.25 6.04076 16.1842 6.19973 16.0669 6.31694C15.9497 6.43415 15.7908 6.5 15.625 6.5C15.4592 6.5 15.3003 6.43415 15.1831 6.31694C15.0658 6.19973 15 6.04076 15 5.875V3.00833L4.81667 13.1917C4.69819 13.3021 4.54148 13.3622 4.37956 13.3593C4.21765 13.3565 4.06316 13.2909 3.94865 13.1764C3.83414 13.0618 3.76854 12.9074 3.76569 12.7454C3.76283 12.5835 3.82293 12.4268 3.93333 12.3083L14.1167 2.125H11.25C11.0842 2.125 10.9253 2.05915 10.8081 1.94194C10.6908 1.82473 10.625 1.66576 10.625 1.5C10.625 1.33424 10.6908 1.17527 10.8081 1.05806C10.9253 0.940848 11.0842 0.875 11.25 0.875ZM2.5 4.625C2.16848 4.625 1.85054 4.7567 1.61612 4.99112C1.3817 5.22554 1.25 5.54348 1.25 5.875V14.625C1.25 14.9565 1.3817 15.2745 1.61612 15.5089C1.85054 15.7433 2.16848 15.875 2.5 15.875H11.25C11.5815 15.875 11.8995 15.7433 12.1339 15.5089C12.3683 15.2745 12.5 14.9565 12.5 14.625V7.75C12.5 7.58424 12.5658 7.42527 12.6831 7.30806C12.8003 7.19085 12.9592 7.125 13.125 7.125C13.2908 7.125 13.4497 7.19085 13.5669 7.30806C13.6842 7.42527 13.75 7.58424 13.75 7.75V14.625C13.75 15.288 13.4866 15.9239 13.0178 16.3928C12.5489 16.8616 11.913 17.125 11.25 17.125H2.5C1.83696 17.125 1.20107 16.8616 0.732233 16.3928C0.263392 15.9239 0 15.288 0 14.625V5.875C0 5.21196 0.263392 4.57607 0.732233 4.10723C1.20107 3.63839 1.83696 3.375 2.5 3.375H9.375C9.54076 3.375 9.69973 3.44085 9.81694 3.55806C9.93415 3.67527 10 3.83424 10 4C10 4.16576 9.93415 4.32473 9.81694 4.44194C9.69973 4.55915 9.54076 4.625 9.375 4.625H2.5Z\"\/><\/svg><\/span><\/a> like the one shown below. No spreadsheets necessary. Of course, if you&#8217;d like to amp things up and analyze your timesheet data in Excel, <a href=\"https:\/\/beebole.com\/integrations\/excel\">our Excel add-in<\/a> makes that an absolute breeze, too.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"432\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/profit-by-project-in-beeboles-report-builder-700x432.png\" alt=\"Beebole&#039;s report builder lets you easily see profit by project\" class=\"wp-image-14943\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/profit-by-project-in-beeboles-report-builder-700x432.png 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/profit-by-project-in-beeboles-report-builder-768x474.png 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/profit-by-project-in-beeboles-report-builder.png 882w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/beebole.com\/employee-timesheet-reports\">Beebole&#8217;s powerful reporting functionality in action.<\/a><\/figcaption><\/figure>\n\n\n\n<h2 id=\"capture-time-tracking-data\" class=\"wp-block-heading\">Capture your time tracking data<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If you&#8217;re not using a time management suite like <a class=\"highlighted-link bbl-link-hs bbl-link-hs-v-1\" href=\"https:\/\/beebole.com\" data-type=\"URL\" data-id=\"https:\/\/beebole.com\"><span>Beebole<svg width=\"17\" height=\"18\" viewBox=\"0 0 17 18\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11.25 0.875H15.625C15.7908 0.875 15.9497 0.940848 16.0669 1.05806C16.1842 1.17527 16.25 1.33424 16.25 1.5V5.875C16.25 6.04076 16.1842 6.19973 16.0669 6.31694C15.9497 6.43415 15.7908 6.5 15.625 6.5C15.4592 6.5 15.3003 6.43415 15.1831 6.31694C15.0658 6.19973 15 6.04076 15 5.875V3.00833L4.81667 13.1917C4.69819 13.3021 4.54148 13.3622 4.37956 13.3593C4.21765 13.3565 4.06316 13.2909 3.94865 13.1764C3.83414 13.0618 3.76854 12.9074 3.76569 12.7454C3.76283 12.5835 3.82293 12.4268 3.93333 12.3083L14.1167 2.125H11.25C11.0842 2.125 10.9253 2.05915 10.8081 1.94194C10.6908 1.82473 10.625 1.66576 10.625 1.5C10.625 1.33424 10.6908 1.17527 10.8081 1.05806C10.9253 0.940848 11.0842 0.875 11.25 0.875ZM2.5 4.625C2.16848 4.625 1.85054 4.7567 1.61612 4.99112C1.3817 5.22554 1.25 5.54348 1.25 5.875V14.625C1.25 14.9565 1.3817 15.2745 1.61612 15.5089C1.85054 15.7433 2.16848 15.875 2.5 15.875H11.25C11.5815 15.875 11.8995 15.7433 12.1339 15.5089C12.3683 15.2745 12.5 14.9565 12.5 14.625V7.75C12.5 7.58424 12.5658 7.42527 12.6831 7.30806C12.8003 7.19085 12.9592 7.125 13.125 7.125C13.2908 7.125 13.4497 7.19085 13.5669 7.30806C13.6842 7.42527 13.75 7.58424 13.75 7.75V14.625C13.75 15.288 13.4866 15.9239 13.0178 16.3928C12.5489 16.8616 11.913 17.125 11.25 17.125H2.5C1.83696 17.125 1.20107 16.8616 0.732233 16.3928C0.263392 15.9239 0 15.288 0 14.625V5.875C0 5.21196 0.263392 4.57607 0.732233 4.10723C1.20107 3.63839 1.83696 3.375 2.5 3.375H9.375C9.54076 3.375 9.69973 3.44085 9.81694 3.55806C9.93415 3.67527 10 3.83424 10 4C10 4.16576 9.93415 4.32473 9.81694 4.44194C9.69973 4.55915 9.54076 4.625 9.375 4.625H2.5Z\"\/><\/svg><\/span><\/a>, you&#8217;ll need to rely on spreadsheets to gather and organize this vital information. The first data we need to consider is <a class=\"highlighted-link bbl-link-hs bbl-link-hs-v-1\" href=\"https:\/\/beebole.com\/project-time-tracking\/\"><span>project time tracking<svg width=\"17\" height=\"18\" viewBox=\"0 0 17 18\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11.25 0.875H15.625C15.7908 0.875 15.9497 0.940848 16.0669 1.05806C16.1842 1.17527 16.25 1.33424 16.25 1.5V5.875C16.25 6.04076 16.1842 6.19973 16.0669 6.31694C15.9497 6.43415 15.7908 6.5 15.625 6.5C15.4592 6.5 15.3003 6.43415 15.1831 6.31694C15.0658 6.19973 15 6.04076 15 5.875V3.00833L4.81667 13.1917C4.69819 13.3021 4.54148 13.3622 4.37956 13.3593C4.21765 13.3565 4.06316 13.2909 3.94865 13.1764C3.83414 13.0618 3.76854 12.9074 3.76569 12.7454C3.76283 12.5835 3.82293 12.4268 3.93333 12.3083L14.1167 2.125H11.25C11.0842 2.125 10.9253 2.05915 10.8081 1.94194C10.6908 1.82473 10.625 1.66576 10.625 1.5C10.625 1.33424 10.6908 1.17527 10.8081 1.05806C10.9253 0.940848 11.0842 0.875 11.25 0.875ZM2.5 4.625C2.16848 4.625 1.85054 4.7567 1.61612 4.99112C1.3817 5.22554 1.25 5.54348 1.25 5.875V14.625C1.25 14.9565 1.3817 15.2745 1.61612 15.5089C1.85054 15.7433 2.16848 15.875 2.5 15.875H11.25C11.5815 15.875 11.8995 15.7433 12.1339 15.5089C12.3683 15.2745 12.5 14.9565 12.5 14.625V7.75C12.5 7.58424 12.5658 7.42527 12.6831 7.30806C12.8003 7.19085 12.9592 7.125 13.125 7.125C13.2908 7.125 13.4497 7.19085 13.5669 7.30806C13.6842 7.42527 13.75 7.58424 13.75 7.75V14.625C13.75 15.288 13.4866 15.9239 13.0178 16.3928C12.5489 16.8616 11.913 17.125 11.25 17.125H2.5C1.83696 17.125 1.20107 16.8616 0.732233 16.3928C0.263392 15.9239 0 15.288 0 14.625V5.875C0 5.21196 0.263392 4.57607 0.732233 4.10723C1.20107 3.63839 1.83696 3.375 2.5 3.375H9.375C9.54076 3.375 9.69973 3.44085 9.81694 3.55806C9.93415 3.67527 10 3.83424 10 4C10 4.16576 9.93415 4.32473 9.81694 4.44194C9.69973 4.55915 9.54076 4.625 9.375 4.625H2.5Z\"\/><\/svg><\/span><\/a> data. Remember, with Beebole you can automatically capture and organize this information right inside the tool itself. We\u2019ll use time data for two main purposes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Multiplying time tracking data by the hourly costs <strong>helps you understand each project\u2019s cost<\/strong>. <\/li>\n\n\n\n<li>It\u2019s also helpful to understand the relative amounts of time involved with each project. After all, it\u2019s helpful to know if your niche projects (fewer hours involved) are highly profitable so that you can target your future marketing efforts.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In Excel, start by setting up a data table that includes employee hours. Each row should represent a billable period (like the month), the project name, the employee name, and the hours spent. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s an important consideration: make sure that you capture your time tracking data at the same time interval as the rest of your data. For example, if you\u2019re looking at monthly billings by client, ensure that your time data is monthly as well. If you have more detailed billing data (like weekly), then it\u2019s okay to capture your time weekly as well.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"465\" height=\"350\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/time-tracking-data-calculating-profitability.jpg\" alt=\"capture time tracking data in Excel\" class=\"wp-image-8585\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/time-tracking-data-calculating-profitability.jpg 465w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/time-tracking-data-calculating-profitability-400x300.jpg 400w\" sizes=\"auto, (max-width: 465px) 100vw, 465px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">After you type your time tracking data into individual rows, let\u2019s convert it into an Excel Data Table. Click on one of the rows, then choose <strong>Insert &gt; Table<\/strong>. Tick the <strong>My Table has headers<\/strong> box, and press <strong>OK<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"486\" height=\"339\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/insert-table-time-to-find-profitability.jpg\" alt=\"The next step is to convert the time tracking data into an Excel Data Table\" class=\"wp-image-8587\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">One step that will come in handy later is naming this data table. Click on any cell in the table, then go to the <strong>Design <\/strong>tab on the ribbon. Give the Table Name a name, such as <strong>Hours<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"514\" height=\"228\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/project-profitability-hours.jpg\" alt=\"By going to the Design tab, you can rename your table; here we&#039;ve given it the name Hours.\" class=\"wp-image-8588\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">This process is much easier when you use a tool to track and monitor time spent. Don\u2019t rely on clumsy paper records or your team\u2019s memory to track time. Check out a tool like <a href=\"https:\/\/beebole.com\/\">Beebole<\/a> to help your team log and capture their work time spent.<\/p>\n\n\n\n<h2 id=\"capture-billing-data\" class=\"wp-block-heading\">Capture your billing data<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">After you\u2019ve logged the hours spent on each project, it\u2019s time to move onto our second table: billing data. This step is very similar to the first one. Put each month, project name, and amount billed to the client on its own row. Remember that the data is shown at the same interval (monthly for our example) as the hours we\u2019ve already tracked.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"353\" height=\"254\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/billing-data-profitability.jpg\" alt=\"You need next capture your billing data to calculate project profitability\" class=\"wp-image-8589\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s convert this table into a data table as well. Once again, click on one of the rows, then choose <strong>Insert &gt; Table<\/strong>. Tick the <strong>My Table has headers<\/strong> box, and press <strong>OK<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"584\" height=\"358\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/project-profitability-insert-table-billing.jpg\" alt=\"We&#039;re now going to insert another table, this time with the billing data\" class=\"wp-image-8591\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s also name the table with the same field on the <strong>Design <\/strong>tab. Let\u2019s call this table <strong>Billing<\/strong>. Press enter, and you\u2019re ready to move onto the next step.<\/p>\n\n\n\n<h2 id=\"capture-cost\" class=\"wp-block-heading\">Capture your cost data<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ve locked in two out of the three parts of project profitability: the time spent, and the revenue we receive from our clients. Now, we need to add cost data to our workbook so that we can understand the full comparison of revenue versus cost. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since we\u2019ve already captured the hours each employee spends on the time, it\u2019s best to square this data with <strong><a href=\"https:\/\/beebole.com\/help\/costs-billing-budgets\/\">hourly cost rates<\/a><\/strong> for employees.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Make sure that you consider the \u201cfully loaded cost\u201d of each employee. That means calculating their costs including extra expenses like insurance, benefits, and other costs. Otherwise, you\u2019ll overstate profitability by not capturing the full employee cost. In this case, let\u2019s enter each employee\u2019s name and their cost per hour in the table. Enter each employee on row alongside their hourly cost. Then, make sure to name the table as we did in the prior steps.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"462\" height=\"270\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/employment-cost-table-calculating-profitability.jpg\" alt=\"Employment cost per hour is important factor in measuring your profits, so we&#039;re going to capture costs next.\" class=\"wp-image-8592\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s a great idea to work with your HR or finance team to calculate an hourly rate for each employee. They can help you make assumptions about working hours and all cost factors involved. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keep in mind that your business includes costs other than \u201cpeople costs.\u201d That might include the expense of operating an office, employees who aren\u2019t billable, (like HR and accounting) and other fixed costs that occur regardless of projects. These are real costs that need to be managed, but it\u2019s outside the scope of project profitability.<\/p>\n\n\n\n<h2 id=\"together\" class=\"wp-block-heading\">How to bring all your data together<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">So far, you\u2019ve built the tables that feed our profitability analysis. It\u2019s time to take that data and combine it. With all of the tables added to a data model and several formulas, it\u2019s easy to analyze project profitability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Load the project profitability data<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019re going to use <strong>Power Query<\/strong> and<strong> PowerPivot<\/strong> in Excel to combine data and create our project profitability analysis. This helps us take data, transform it, and keep up-to-date in an easy model. Let\u2019s learn how. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For each of the three tables, let\u2019s load them to the data model. Let\u2019s start with the time tracking table. Click on a row in the table, then click on <strong>Data &gt; Get &amp; Transform Data &gt; From Table &amp; Range<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"687\" height=\"353\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/how-to-find-project-profitability-data.jpg\" alt=\"Profitability analysis through Microsoft Excel Power Query and Power Pivot\" class=\"wp-image-8593\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">On each table, simply click on the <strong>Close &amp; Load<\/strong> button, then choose <strong>Close &amp; Load To<\/strong>. Choose <strong>Only Create Connection<\/strong>, and <strong>Add this data to the Data Model<\/strong>. Then press <strong>OK<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"492\" height=\"260\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/finding-project-profitability-time-tracking-data.png\" alt=\"Adding the data to the data model\" class=\"wp-image-8594\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, you\u2019ll need to repeat this for each of the tables we\u2019ve already created: the billings, the costs, and the hours spent. This step gets all of your data ready to work with in our profitability dashboard.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"652\" height=\"312\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/profitability-analysis-connection-add-to-model.png\" alt=\"You&#039;ll need to load the data for each of the tables\" class=\"wp-image-8595\" title=\"\"><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Merge the project profitability data<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Now, it\u2019s time to join up the tables. By merging tables, we\u2019ll take our three datasets and bring them together into one data model. Let\u2019s open the <strong>Data &gt; Queries &amp; Connections<\/strong> menu. You\u2019ll see the three tables that we\u2019ve loaded so far. Double click on the table that corresponds to your billing data, the table with the month, project, and billable revenue.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"416\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/time-tracking-data-project-profitability-700x416.jpg\" alt=\"Merge the data from the three tables in order to put them into one data model.\" class=\"wp-image-8596\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/time-tracking-data-project-profitability-700x416.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/time-tracking-data-project-profitability-768x456.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/time-tracking-data-project-profitability.jpg 850w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Prepare the hours data<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">To get everything ready, we need to double up our Hours tab. That\u2019s because we need to calculate each employee\u2019s hours as a percent of the total on the project. Right-click on the Hours query and choose <strong>Duplicate<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"679\" height=\"242\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/duplicate-query-for-project-profitability.jpg\" alt=\"Duplicate the query to be able to calculate each employee&#039;s hours as a percent of the total project\" class=\"wp-image-8597\" title=\"\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">On this table, we need to sum up the hours for each project, irrespective of employee. We\u2019ll right click on the <strong>Employee<\/strong> column and choose <strong>Remove Columns<\/strong> on the menu.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"286\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/calculating-project-profitability-remove-employee-column-700x286.jpg\" alt=\"Another step is removing the employee column\" class=\"wp-image-8598\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/calculating-project-profitability-remove-employee-column-700x286.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/calculating-project-profitability-remove-employee-column.jpg 721w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Then, choose <strong>Group By<\/strong> on the menu. Let\u2019s group by <strong>Month<\/strong>, then <strong>Project<\/strong>. We\u2019ll create <strong>Summed Hours<\/strong> by choosing <strong>Sum for Hours<\/strong> as you see in the screenshot below. This is designed to condense this table into an easy sum of the hours by project and month.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"360\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/group-by-summed-hours-calculate-project-profitability-700x360.jpg\" alt=\"Condense information by grouping information\" class=\"wp-image-8599\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/group-by-summed-hours-calculate-project-profitability-700x360.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/group-by-summed-hours-calculate-project-profitability-768x395.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/group-by-summed-hours-calculate-project-profitability.jpg 943w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019re left with the hours by month and project. Let\u2019s merge in the employee hours, then compare those hours to the total to find the percentage. Click on <strong>Merge Queries<\/strong>, then choose your other Hours table. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Click on the <strong>Merge Queries<\/strong> button. Then, choose the hours table where you\u2019ve loaded your employee hours. On the merge window, click on the <strong>Month <\/strong>column, then hold control on your keyboard and click on the <strong>Project <\/strong>column in the top table. This says that we need to match data up to both factors.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"457\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merged-hours-excel-700x457.jpg\" alt=\"Use Microsoft Excel and timesheet data to calculate project profitability\" class=\"wp-image-8600\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merged-hours-excel-700x457.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merged-hours-excel-768x502.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merged-hours-excel.jpg 813w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Now, in the bottom table, click on the same columns (in the same sequence) and press OK. Click on the double arrow to select <strong>Employee <\/strong>and <strong>Hours<\/strong>. Then, press <strong>OK<\/strong>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ll see each billing line of hours in the report. We need to add a custom column to calculate hours as a percent. Click on <strong>Add Column<\/strong>, <strong>Custom Column<\/strong>. Type in the formula as shown below, then press <strong>OK<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"387\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/custom-calculation-calced-700x387.jpg\" alt=\"Add a custom column\" class=\"wp-image-8601\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/custom-calculation-calced-700x387.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/custom-calculation-calced-768x424.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/custom-calculation-calced.jpg 887w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, we\u2019ll highlight our new column and transform it into a percent with the <strong>Data Type &gt; Percentage<\/strong> option. When you\u2019re done, use the <strong>Close &amp; Load<\/strong> icon and load as a Connection, with <strong>Add to the Data Model. <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s it! We\u2019ve calculated hours as a percent, and we\u2019ve laid most of the groundwork for the rest of our calculations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Add hours data to billings data<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Now that we\u2019ve prepared most of our hourly data, let\u2019s join it back to our billings. Let\u2019s double click on the <strong>Billable<\/strong> query. Then, click on the <strong>Merge Queries<\/strong> option. On the bottom dropdown, choose the table from the last step (likely called \u201cHours (2)\u201d if you\u2019ve followed closely). <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Again, we need to show Excel how to match up our data. Click on <strong>Month<\/strong> and <strong>Project<\/strong> while holding <strong>Control<\/strong> on your keyboard in the top table. Then, repeat the same step in the second table with the bottom preview window.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"388\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merge-billable-data-analyze-project-profitability-700x388.jpg\" alt=\"Next you need to add the hours data to the billings data\" class=\"wp-image-8602\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merge-billable-data-analyze-project-profitability-700x388.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merge-billable-data-analyze-project-profitability-768x426.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/merge-billable-data-analyze-project-profitability.jpg 943w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Now, click the double arrow to expand the column. Leave three columns checked: the employee name, the hours, and the percent of hours. You\u2019re starting to see the power of all of this Excel work: joining up three separate tables to one cohesive model.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"282\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-hours-understanding-project-profitability-700x282.jpg\" alt=\"Expand the columns to see the power of this kind of reporting in Microsoft Excel\" class=\"wp-image-8603\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-hours-understanding-project-profitability-700x282.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-hours-understanding-project-profitability-768x309.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-hours-understanding-project-profitability.jpg 996w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s make one more join. Click on <strong>Merge Queries<\/strong> again, and this time, point to the costs table. This time, we need to add the hourly cost for each employee so that we can multiply it times the hours.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Choose the <strong>Employee Name<\/strong> in each table so that Excel matches everything up. Then, expand the column and add only the <strong>Employment Cost Per Hour<\/strong> column.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"301\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-employment-cost-700x301.jpg\" alt=\"Understanding employment cost is key\" class=\"wp-image-8604\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-employment-cost-700x301.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-employment-cost-768x330.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/expanded-employment-cost.jpg 786w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">One more custom column to create: click on <strong>Add Column &gt; Custom Column<\/strong>. Write the formula you see below to multiply the hours times the hourly rate to get to the total employment cost by employee \/ month \/ project.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"348\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/project-profitability-add-custom-column-700x348.jpg\" alt=\"Create one more custom column to multiply the hours times the hourly rate to get to the total employment cost by employee \/ month \/ project.\" class=\"wp-image-8605\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/project-profitability-add-custom-column-700x348.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/project-profitability-add-custom-column-768x382.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/project-profitability-add-custom-column.jpg 1030w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Last up, let\u2019s divide out the revenue based on the hourly efforts. We need to multiply that hourly share of rates times the billable revenue in order to see how much revenue is assigned to each employee, based on their share of the billings.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"406\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/employee-generated-revenue-700x406.jpg\" alt=\"It&#039;s important to know your employee generated revenue\" class=\"wp-image-8606\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/employee-generated-revenue-700x406.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/employee-generated-revenue-768x445.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/employee-generated-revenue.jpg 866w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s the formula we\u2019ll use: <\/p>\n\n\n\n<div class=\"wp-block-kevinbatdorf-code-block-pro\" data-code-block-pro-font-family=\"Code-Pro-JetBrains-Mono\" style=\"font-size:.875rem;font-family:Code-Pro-JetBrains-Mono,ui-monospace,SFMono-Regular,Menlo,Monaco,Consolas,monospace;line-height:1.25rem;--cbp-tab-width:2;tab-size:var(--cbp-tab-width, 2)\"><span style=\"display:block;padding:16px 0 0 16px;margin-bottom:-1px;width:100%;text-align:left;background-color:#282A36\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"54\" height=\"14\" viewBox=\"0 0 54 14\"><g fill=\"none\" fill-rule=\"evenodd\" transform=\"translate(1 1)\"><circle cx=\"6\" cy=\"6\" r=\"6\" fill=\"#FF5F56\" stroke=\"#E0443E\" stroke-width=\".5\"><\/circle><circle cx=\"26\" cy=\"6\" r=\"6\" fill=\"#FFBD2E\" stroke=\"#DEA123\" stroke-width=\".5\"><\/circle><circle cx=\"46\" cy=\"6\" r=\"6\" fill=\"#27C93F\" stroke=\"#1AAB29\" stroke-width=\".5\"><\/circle><\/g><\/svg><\/span><span role=\"button\" tabindex=\"0\" style=\"color:#f6f6f4;display:none\" aria-label=\"Copy\" class=\"code-block-pro-copy-button\"><pre class=\"code-block-pro-copy-button-pre\" aria-hidden=\"true\"><textarea class=\"code-block-pro-copy-button-textarea\" tabindex=\"-1\" aria-hidden=\"true\" readonly>=&#91;#\"Hours (2).Percent of Hours\"&#93;*&#91;Billable&#93; <\/textarea><\/pre><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"width:24px;height:24px\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path class=\"with-check\" stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M9 5H7a2 2 0 00-2 2v12a2 2 0 002 2h10a2 2 0 002-2V7a2 2 0 00-2-2h-2M9 5a2 2 0 002 2h2a2 2 0 002-2M9 5a2 2 0 012-2h2a2 2 0 012 2m-6 9l2 2 4-4\"><\/path><path class=\"without-check\" stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M9 5H7a2 2 0 00-2 2v12a2 2 0 002 2h10a2 2 0 002-2V7a2 2 0 00-2-2h-2M9 5a2 2 0 002 2h2a2 2 0 002-2M9 5a2 2 0 012-2h2a2 2 0 012 2\"><\/path><\/svg><\/span><pre class=\"shiki dracula-soft\" style=\"background-color: #282A36\" tabindex=\"0\"><code><span class=\"line\"><span style=\"color: #F286C4\">=<\/span><span style=\"color: #F6F6F4\">&#91;#<\/span><span style=\"color: #DEE492\">&quot;<\/span><span style=\"color: #E7EE98\">Hours (2).Percent of Hours<\/span><span style=\"color: #DEE492\">&quot;<\/span><span style=\"color: #F6F6F4\">&#93;<\/span><span style=\"color: #F286C4\">*<\/span><span style=\"color: #F6F6F4\">&#91;Billable&#93; <\/span><\/span><\/code><\/pre><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Take a second to admire your work. With these Excel steps, we have a data model with everything in one place. We started with billings, added hours by employee, then layered in the costs. Keep reading to become a master project analyst.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Add your profitability calculations<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">With our data model in hand, we can write a few formulas that show project profitability. Let\u2019s click on the <strong>Power Pivot &gt; Manage<\/strong> button to open the data model. This looks like a separate spreadsheet and it\u2019s the data that feeds our dashboard. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Make sure that you\u2019re working on the <strong>Billable<\/strong> tab, then type these formulas into the bottom section of the spreadsheet, below your data. Each of these formulas gives us a way to analyze project profitability.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total Revenue:=CALCULATE(SUM(Billable[Employee Generated Revenue]))<\/li>\n\n\n\n<li>Total Hours:=CALCULATE(SUM(Billable[Hours (2).Hours.Hours]))<\/li>\n\n\n\n<li>Hourly Rate:=[Total Revenue]\/[Total Hours]<\/li>\n\n\n\n<li>Total Costs:=CALCULATE(SUM(Billable[Employment Cost]))<\/li>\n\n\n\n<li>Project Margin:=[Total Revenue]-[Total Costs]<\/li>\n\n\n\n<li>Project Margin Percent:=[Project Margin]\/[Total Revenue]<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"407\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/added-powerpivot-formulas-calculate-project-profitability-700x407.jpg\" alt=\"These are key Power Pivot formulas to analyzing profitability\" class=\"wp-image-8607\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/added-powerpivot-formulas-calculate-project-profitability-700x407.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/added-powerpivot-formulas-calculate-project-profitability-768x447.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/added-powerpivot-formulas-calculate-project-profitability.jpg 896w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s click on PivotTable on the menu, and choose <strong>New Worksheet<\/strong>. This places a table that hooks into the data model into our spreadsheet, and we\u2019re ready to begin the analysis. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Note: if you gave your tables different names at any point in this tutorial, you\u2019ll need to adapt your formulas to match those names.<\/em><\/p>\n\n\n\n<h2 id=\"project-profitability\" class=\"wp-block-heading\">How to analyze project profitability<\/h2>\n\n\n\n<h3 id=\"analyzing-project-profitability-beebole\" class=\"wp-block-heading\">Analyzing project profitability in Beebole<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you&#8217;d rather skip the spreadsheet work entirely, Beebole calculates project profitability for you automatically, using the same three inputs \u2014 hours, billing, and cost \u2014 you just built by hand. Here&#8217;s how to set it up.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>1. Set your billing rates (what you charge)<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/beebole.com\/help\/documentation\/billing#where-to-set-billing-rates\">Billing rates<\/a> can be set at four levels: organization, tag, project, or person, and they cascade down \u2014 a project or person without its own rate simply inherits the one above it. Open the relevant entity (Settings &gt; Account Settings for the organization level, or Tags, Projects, or People for the rest), find its <strong>Billing<\/strong> section, and click <strong>Add<\/strong>. Choose a start date, a billing method (hourly, daily, fixed fee, or non-billable), and enter the amount and currency.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"490\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-rates-in-beebole-for-profitability-reports-700x490.png\" alt=\"Setting up rates in Beebole is as simple as choosing a billing method, a rate, and checking the box if it&#039;s non-billable\" class=\"wp-image-14945\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-rates-in-beebole-for-profitability-reports-700x490.png 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-rates-in-beebole-for-profitability-reports-768x538.png 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-rates-in-beebole-for-profitability-reports-1536x1076.png 1536w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-rates-in-beebole-for-profitability-reports.png 1600w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><figcaption class=\"wp-element-caption\">A look at Beebole&#8217;s simple <a href=\"https:\/\/beebole.com\/help\/documentation\/billing#where-to-set-billing-rates\">set-up for billing rates<\/a>.<\/figcaption><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2. Set your cost rates (what the work costs you)<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/beebole.com\/help\/documentation\/costs#cost-rates-track-labor-costs-and-margins\">Cost rates<\/a> work the same way at the same levels (organization, tag, project, or person \u2014 not on individual tasks), in a <strong>Cost<\/strong> section instead of Billing. Add a start date, a cost method (hourly, daily, fixed fee, or no cost), and an amount. Once a project or person has both a billing rate and a cost rate for the same period, Beebole calculates the margin automatically \u2014 no separate &#8220;fully loaded cost&#8221; spreadsheet required.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"410\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-costs-in-Beebole-for-accurate-profitability-reports-700x410.png\" alt=\"Setting up costs in Beebole couldn&#039;t be simpler; you simply choose a method and amount\" class=\"wp-image-14944\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-costs-in-Beebole-for-accurate-profitability-reports-700x410.png 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-costs-in-Beebole-for-accurate-profitability-reports-768x450.png 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/setting-up-costs-in-Beebole-for-accurate-profitability-reports.png 1429w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><figcaption class=\"wp-element-caption\">Just like billing rates, <a href=\"https:\/\/beebole.com\/help\/documentation\/costs#cost-rates-track-labor-costs-and-margins\">setting up cost rates in Beebole<\/a> is also done in just a few simple clicks.<\/figcaption><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>3. Build the profitability report<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Open <strong><a href=\"https:\/\/beebole.com\/help\/documentation\/custom-reports#custom-reports-columns-charts-and-matrix\">Reports<\/a><\/strong> in the sidebar and click <strong>+ New report<\/strong>. Click <strong>Add a column\u2026<\/strong> and pull in the fields that matter for margin: <strong>Billing<\/strong>, <strong>Cost<\/strong>, <strong>Margin %<\/strong>, <strong>Markup %<\/strong>, or the totals \u2014 <strong>Billing total<\/strong>, <strong>Cost total<\/strong>, <strong>Profit total<\/strong>. Add <strong>Project<\/strong> (or Person, Client, or Tag) as a row to group by, and use the filters to scope by date range, status, or specific projects. Switch to <strong>Chart<\/strong> for a visual read, or <strong>Matrix<\/strong> to pivot projects against periods with a heat map showing where margin is thinning. Everything saves automatically as you build it \u2014 there&#8217;s no separate save step.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Note that if you just want a fast health check instead, <a href=\"https:\/\/beebole.com\/help\/documentation\/reports#budget-status\">the built-in <strong>Budget Status<\/strong> report<\/a> shows every project&#8217;s consumption against its budget with a forecast bar based on planned effort, and lets you filter straight to anything over 80% consumed or already over budget.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"438\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/budget-status-report-in-Beebole-offers-a-quick-glance-project-health-700x438.png\" alt=\"The Budget Status report in Beebole gives a quick health check on projects, showing whether they&#039;re on track, close to, or over budget\" class=\"wp-image-14954\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/budget-status-report-in-Beebole-offers-a-quick-glance-project-health-700x438.png 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/budget-status-report-in-Beebole-offers-a-quick-glance-project-health-768x480.png 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2026\/08\/budget-status-report-in-Beebole-offers-a-quick-glance-project-health.png 1147w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/beebole.com\/help\/documentation\/reports#budget-status\">Beebole&#8217;s Budget Status report<\/a> gives you a quick view of projects&#8217; consumption against its budget with a forecast bar based on planned time.<\/figcaption><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>4. Schedule it so you&#8217;re not the one checking<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Once a report is built the way you want it, open its action menu and click <strong>Schedule<\/strong>. Pick a frequency \u2014 daily, weekly, monthly, quarterly, or a custom cadence tied to the start or end of the period. Then add the email addresses of whoever needs to see it under <strong>Send to<\/strong>, and Beebole will run the report on schedule and email each recipient a link to the results. This means that your finance lead can get margin visibility without opening Beebole, and you stop rebuilding the same report every month.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>5. Turn the numbers into action<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Seeing the margin is only useful if it changes what you do next. Here&#8217;s a handful of ways teams act on it directly in Beebole:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Catch budget overruns before they erase the margin.<\/strong> The <a href=\"https:\/\/beebole.com\/help\/documentation\/reports#budget-status\">Budget Status report<\/a>&#8216;s over-80% and over-budget filters flag at-risk projects while there&#8217;s still time to intervene and pivot.<\/li>\n\n\n\n<li><strong>Fix the rate, not just the number.<\/strong> If a report shows margin shrinking on a project or client, <a href=\"https:\/\/beebole.com\/blog\/how-to-manage-multiple-billing-rates\/\">revise the billing rate<\/a> directly on that project \u2014 the change applies going forward without touching a spreadsheet.<\/li>\n\n\n\n<li><strong>Rebalance the team.<\/strong> If cost overruns trace back to over-allocation, use resource planning&#8217;s real-time view of scheduled versus worked hours to shift assignments before hours pile up on an already-thin project.<\/li>\n\n\n\n<li><strong>Watch it over time.<\/strong> Use the <a href=\"https:\/\/beebole.com\/help\/documentation\/custom-reports#matrix-view\">Matrix view<\/a>&#8216;s period columns to compare margin trend by project or client quarter over quarter, so a one-off bad month doesn&#8217;t get mistaken for \u2014 or even worse, hide \u2014 a pattern.<\/li>\n<\/ul>\n\n\n<div  class=\"mb-4 call_to_action-block\">\n    <div class=\"call_to_action-blockcontent py-5 px-4 text-center border-top border-bottom\">\n                    <h4 class=\"call_to_action-header h2 mt-0\">Skip the spreadsheets. See project profitability in Beebole.<\/h4>\n                            <p class=\"call_to_action-text\">Project profitability at your fingertips with Beebole&#039;s financial reports.<\/p>\n                <div class=\"call_to_action-btns btns-wrap d-block d-lg-flex justify-content-center mx-auto\">\n                            <a class=\"w-100 w-lg-auto btn btn-outline-primary me-lg-4 mb-3 mb-lg-0 bbl_cta_block_demo_btn \" href=\"https:\/\/beebole.com\/sales-call\" id=\"cta_post_8571_article_demo_2\">Demo<\/a>\n                                        <a class=\"w-100 w-lg-auto btn btn-primary text-white bbl_cta_block_signup_btn \" href=\"https:\/\/app.beebole.com\/signup\" id=\"cta_post_8571_article_sign_up_2\"><span>Sign Up<\/span><\/a>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n<h3 id=\"analyzing-project-profitability-spreadsheet\" class=\"wp-block-heading\">Analyzing project profitability in a spreadsheet<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Alright, back to the tutorial. So far, we\u2019ve spent a lot of time setting up our data and writing formulas to analyze profitability. Let\u2019s build a dashboard to turn this into a visual analysis. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the screenshot below, I\u2019m using fields in the <strong>pivot table<\/strong> to create a dashboard. I\u2019ve placed the month on each row, followed by each employee. Then, I\u2019ve put numeric fields in the values to show the metrics.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"436\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/starter-dashboard-project-profitability-700x436.jpg\" alt=\"Dashboard to analyze project profitability in Microsoft Excel using timesheet data\" class=\"wp-image-8608\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/starter-dashboard-project-profitability-700x436.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/starter-dashboard-project-profitability-768x478.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/starter-dashboard-project-profitability.jpg 1186w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">With this view showing, here are things to notice and questions to ask to analyze your profitability:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Are any projects unprofitable?<\/strong> Ensure each project has a positive margin percent. <\/li>\n\n\n\n<li><strong>Are any employees unprofitable? <\/strong>Ensure each employee has a positive margin percent. <\/li>\n\n\n\n<li><strong>Which projects are the highest and lowest in terms of profit percent?<\/strong> Compare the relative profitability percent of each project.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, the dashboard serves as a tool to help you explore your curiosity. It\u2019s up to you to decide how to analyze the data. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are other ideas for pivot tables that may be useful:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Which employees have the highest profit margin?<\/strong> Compare their total billings generated to their costs and use the <strong>Project Margin Percent <\/strong>field to review. <\/li>\n\n\n\n<li><strong>Which projects have the highest and lowest margins? <\/strong>We\u2019ve basically built this, but simplify by pulling out the employee field on each row. <\/li>\n\n\n\n<li><strong>What\u2019s your overall agency profit by month?<\/strong> Place month in each column, then show the project margin below that.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"239\" src=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/alternate-dashboard-project-profitability-analysis-700x239.jpg\" alt=\"Dashboard for analyzing project profitability\" class=\"wp-image-8609\" title=\"\" srcset=\"https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/alternate-dashboard-project-profitability-analysis-700x239.jpg 700w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/alternate-dashboard-project-profitability-analysis-768x262.jpg 768w, https:\/\/beebole.com\/blog\/wp-content\/uploads\/2021\/09\/alternate-dashboard-project-profitability-analysis.jpg 835w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s my favorite part of what we\u2019ve built: <strong>it\u2019s easy to update<\/strong>. Simply fill in the tables with new information each time you get new data, then choose <strong>Data &gt; Refresh All.<\/strong> Your tables will automatically update and populate in the same pivots you\u2019ve already built. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now that you\u2019ve analyzed your project profitability, it\u2019s time to take action. Make sure to consider this project profitability as you tailor your marketing and sales efforts. Also, consider <a href=\"https:\/\/beebole.com\/blog\/how-to-manage-multiple-billing-rates\/\">revising your billing rates<\/a> in projects that are lower in profitability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And don&#8217;t forget that all of this can be done with a few simple clicks right in Beebole\u2014no spreadsheets necessary!<\/p>\n\n\n\n<h2 id=\"watch\" class=\"wp-block-heading\">Watch the tutorial<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Don\u2019t miss the tutorial screencast where we show you exactly how to calculate project profitability in Excel.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<span class=\"bbl-video-yt-subscribe\"><span class=\"bbl-vys-video\"><span class=\"bbl-video-outer\"><span class=\"bbl-video\" data-type=\"youtube\" data-id=\"R6ujuAiePec\" data-title=\"How to Calculate Project Profitability Using Time Tracking Data\"><img alt=\"How to Calculate Project Profitability Using Time Tracking Data\" height=\"360\" loading=\"lazy\" src=\"https:\/\/img.youtube.com\/vi\/R6ujuAiePec\/hqdefault.jpg\" width=\"480\" \/><svg class=\"bbl-video-play-btn\" version=\"1.1\" viewBox=\"0 0 68 48\"><path d=\"M66.52,7.74c-0.78-2.93-2.49-5.41-5.42-6.19C55.79,.13,34,0,34,0S12.21,.13,6.9,1.55 C3.97,2.33,2.27,4.81,1.48,7.74C0.06,13.05,0,24,0,24s0.06,10.95,1.48,16.26c0.78,2.93,2.49,5.41,5.42,6.19 C12.21,47.87,34,48,34,48s21.79-0.13,27.1-1.55c2.93-0.78,4.64-3.26,5.42-6.19C67.94,34.95,68,24,68,24S67.94,13.05,66.52,7.74z\" fill=\"#f00\"><\/path><path d=\"M 45,24 27,14 27,34\" fill=\"#fff\"><\/path><\/svg><\/span><\/span><noscript><iframe loading=\"lazy\" title=\"How to Calculate Project Profitability Using Time Tracking Data\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/R6ujuAiePec?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/noscript><\/span><span class=\"bbl-vys-cta\"><span class=\"bbl-vys-cta-text\"><span class=\"bbl-vys-cta-title\">There's more where that came from.<\/span><span class=\"bbl-vys-cta-subtitle\">Don\u2019t miss a single video.<\/span><\/span><a class=\"btn btn-primary text-white px-5 px-lg-3\" href=\"https:\/\/www.youtube.com\/@BeeBole?sub_confirmation=1\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><span>Subscribe<\/span><\/a><\/span><\/span>\n<\/div><\/figure>\n      <script type=\"text\/javascript\">\n        ( function() {\n          var iframes = document.querySelectorAll( '.bbl-video:not(.loaded)' );\n          iframes.forEach( function( iframe ) {\n            iframe.addEventListener( 'click', function() {\n              if ( iframe.dataset.type === 'youtube' ) {\n                iframe.innerHTML = '<iframe src=\"https:\/\/www.youtube.com\/embed\/' + iframe.dataset.id + '?feature=oembed&autoplay=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen title=\"' + iframe.dataset.title + '\"><\/iframe>';\n                iframe.classList.add( 'loaded' );\n              }\n            });\n          });\n        })();\n      <\/script>\n<div class=\"bbl-post-disclaimer\">The experts who have written or contributed to this article are independent from Beebole, and their contribution doesn't serve as endorsement for our company\/tool or their past\/present organizations, employers, or associates.<\/div>","protected":false},"excerpt":{"rendered":"<p>If you bill clients based on the time you spend, here\u2019s a pop quiz: which projects make the most money? Or even more importantly: which projects aren\u2019t profitable? If you don\u2019t know the answer to these questions, it\u2019s time to start thinking about project profitability, a measurement of revenue billed versus time and cost expended. [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":8608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4011],"tags":[1395,3980,3989,4013],"class_list":["post-8571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-project-management","tag-time-tracking","tag-reporting","tag-excel","tag-templates"],"acf":[],"_links":{"self":[{"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/posts\/8571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/comments?post=8571"}],"version-history":[{"count":55,"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/posts\/8571\/revisions"}],"predecessor-version":[{"id":14956,"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/posts\/8571\/revisions\/14956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/media\/8608"}],"wp:attachment":[{"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/media?parent=8571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/categories?post=8571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beebole.com\/blog\/wp-json\/wp\/v2\/tags?post=8571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}