The Project Financial tab is the central hub for tracking, managing, and analyzing all financial aspects of your projects in ActionAtlas. This powerful interface gives project managers complete visibility into project costs, revenue, and profitability in real-time.
In This Article:
Financial Tab Overview
The Financial tab consolidates all monetary aspects of your project into a single, intuitive interface, making it easy to monitor budgets, track expenses, and ensure profitability.
Key capabilities of the Financial tab include:
- Real-time tracking of all project costs and revenue
- Automated calculation of profit margins and markups
- Visualizations of project financial health
- Detailed breakdown of expenses by category
- Tools for applying project-wide cost modifiers
- Integration with invoicing and payment processing
Note: Financial data updates in real-time as team members log hours, expenses are recorded, and invoices are processed, giving you an always-current view of your project's financial status.
Quick Report Section
At the top of the Financial tab, you'll find the Quick Report section, which provides an at-a-glance summary of your project's overall financial performance.
The Quick Report aggregates all project expense categories to display:
- Total Cost – The cumulative cost of all expenses across all categories
- Total Revenue – The billable amount for all project work
- Profit – The difference between revenue and costs
- Profit Percentage – Profit expressed as a percentage of revenue
- Budget Variance – How actual costs compare to projected budgets
Tip: Click on any metric in the Quick Report to see a detailed breakdown of contributing factors. This helps pinpoint specific areas that may be affecting overall profitability.
Cost Modifiers
The Cost Modifiers section allows project managers to apply project-wide adjustments that affect the entire project's cost structure. These modifiers can represent discounts, markups, administrative fees, or other adjustments that need to be applied uniformly.
Common Cost Modifier Use Cases
Cost modifiers are frequently used to account for:
- Administrative Fees – Overhead costs applied across all projects
- Environment Fees – Costs for specialized equipment or facilities
- Volume Discounts – Reduced rates for large-scale projects
- Rush Fees – Additional charges for expedited timelines
- Special Client Rates – Customized pricing for specific clients
Adding a Cost Modifier
- Click the "+ Add Cost Modifier" button
- Enter a descriptive name for the modifier
- Specify whether it's a fixed amount or percentage
- Enter the value (dollar amount or percentage)
- Select whether it's applied as a discount (negative) or surcharge (positive)
- Click "Save" to apply the modifier
Important: Cost modifiers affect client-facing financial documents. Make sure any applied modifiers align with your client agreements and contracts to avoid billing discrepancies.
Project Expenses
The Project Expenses section is the core of the Financial tab, providing a detailed breakdown of all costs associated with your project. ActionAtlas organizes expenses into logical categories to facilitate analysis and reporting.
Default Expense Categories
ActionAtlas ships with three default expense categories that automatically populate as resources are assigned to your project:
Team Members
Internal staff assigned to the project, with expenses calculated based on their hourly rates and time logged.
Freelancers
External contractors with expenses based on negotiated rates and contract terms.
Locations
Physical spaces or facilities that have associated costs for project execution.
Note: These categories will only appear in the Expenses section after the corresponding resources (Team Members, Freelancers, or Locations) have been assigned to the project.
Expense Visibility
For each expense category, the Financial tab displays:
- Resource Name – The team member, freelancer, or location
- Rate – The applicable hourly or fixed rate
- Quantity – Hours logged or units applied
- Cost – The total cost (rate × quantity)
- Margin/Markup – The profit percentage applied
- Revenue – The billable amount after margin/markup
- Profit – The difference between revenue and cost
Tip: By default, all Project Managers and Team Members are added to projects using their first skillset and hourly rate. You can modify these assignments in the Talent tab if different skills or rates are needed.
Expense Categories
Beyond the default categories, ActionAtlas allows for custom expense categories that align with your organization's specific needs and financial tracking requirements.
Custom Expense Categories
Your organization's Administrator can create additional expense categories through the Admin Console, such as:
- Equipment – Hardware, software, or specialized tools
- Travel – Transportation, accommodations, and per diems
- Production – Materials, printing, or manufacturing costs
- Licensing – Software licenses or content rights
- Professional Services – External consultants or specialized services
Category Settings
Each expense category has predefined settings that control financial behavior:
- Default Margin/Markup – The profit percentage automatically applied
- Maximum Allowable Margin/Markup – Caps that prevent excessive pricing
- Billable Status – Whether expenses in this category pass through to clients
Note: Project Expense Categories and their default settings are created by your Administrator in the Admin Console. Contact your system administrator if you need additional categories or adjustments to existing ones.
Editing Expenses
The Financial tab allows project managers to make certain adjustments to expenses based on project needs and client arrangements.
Editable Fields
For most expense items, you can edit:
- Quantity – Adjust the number of hours or units
- Cost – Modify the base cost (except for Freelancers)
- Margin/Markup Percentage – Adjust the profit calculation
- Notes – Add context or justification for expenses
Important: Freelancer contract costs cannot be modified on the Financial tab. This protection ensures transparency and prevents unauthorized changes to agreed-upon rates. To modify a freelancer's compensation, you must formally renegotiate terms with the freelancer through the proper channels.
Making Expense Adjustments
- Click on the expense item you wish to modify
- Click the edit icon or select "Edit" from the action menu
- Make your changes in the edit form
- Provide a brief justification if required
- Click "Save" to apply your changes
The system automatically recalculates total costs, revenue, and profit when you make changes, giving you immediate feedback on the financial impact of your adjustments.
Need Help?
Our support team is available to assist with any questions about project finances.
Contact Support