The Visit Profit Margin Report provides users with a visit-level breakdown of, not only profit metrics, but many other financial performance metrics as well.
This report compiles all visits within the parameters of the filters (which will be covered later) and breaks them down by Visit and Client information along with financial metrics such as Sales, Cost of Goods Sold (COGS), Expenses, Profit (in dollars), Profit (as a percentage), Payments and Balances.
All visits with the indicated stages (includes all stages if none are selected), with either a: created or start date (depending on which is selected) within the date range are included in the calculation.
Payments are filtered based on the start or created date of the visit, and not the payment date.
If the visit's invoice is part of a combined or rolled-up invoice, a link to that invoice will be shown in the "Payments" and "Balance" columns.
It's important to note that jobs that are on a fixed invoice schedule will not show up on this report.
Accessing the Report
The Visit Profit Margin Report is located in the Expenses and Job Costing section of the Reports tab.
To get there:
→ First, navigate to the Reports section
→ Hover over the Expenses and Job Costing tab
→ Select Visit Profit Margin Report
Utilizing the Report
To begin using the report to its fullest potential, we recommend utilizing the filters such as: date range, date filter, visit stages, and assignee & sales rep.
The Date Range allows you to select a timeframe of your choosing whereas the Date Filter gives you the ability to filter the visits based on when the visit was started versus when the visit was created. Combining the date filter with the visit stage will allow you to pin point specific visits within a certain timeframe.
If you wanted to your unscheduled visits for the 1st quarter of 2021; you'd set your date range to January 1st, 2021 to March 31st, 2021. Filter by start date (or when the visit was supposed to start) then by the visit stage, which would be 'unscheduled'
Another layer that you can add to this report is by filtering in a specific Sales Rep(s) or Assignee(s).
This will give you the ability to drill into the financial metrics that each Sales Rep(s) or Assignee(s) are responsible for.
For instance, if I wanted to look at the Visit Profit Margin that my sales team has been selling for the first half of the year I would:
- Set the Date Range from 1/1/2020 - 6/1/2020
- Select my Sales Reps
- Set Visit Stage to: Completed, Approved, and Scheduled & Unscheduled*
*Scheduled and Unscheduled are synonymous with Active Jobs
Once you've set those parameters, you can get a grasp of your sales numbers, COGS, expenses, profit and profit margin.
The data included in the Visit Profit Margin Report can be controlled by selecting which Columns to display. To access this, click the Columns button on the top left corner of the table.
Select the desired columns to include or remove by clicking the name of the data field, and your selections will update on the Report table. Column order can be adjusted by dragging and dropping column headers, as seen in the gif below.
Data can also be sorted by clicking on Column headers. Click once to sort from Low-to-High, and again to sort from High-to-Low.
Next, let's talk about some of the columns and the values. We're going to skip over Reference #, Visit Name and Stage, Operation, and Client since all of those values are somewhat self-explanatory. Below, you can find the definitions of the columns that aren't as clear cur.
Created: also known as the created date, was the date in which this visit was created
Work Start: This is the date that the visit is scheduled to start. If a cell is blank, that means a start date has not yet been assigned
Sales: This is the revenue for each visit
COGS: This is the cost of the goods that you've sold to your customer. (To find out how your COGS formula is currently calculated, as an admin user: navigate to Account Settings > Scroll to the COGS Formula tab)
Expense: any expenses associated to the visits will appear in this column
Profit $: This is calculated by subtracting COGS and Expenses from Sales .
Expressed algebraically: (Sales - [COGS + Expenses]) = Profit
Profit %: Calculated by dividing Profit $ by Sales
Expressed algebraically: ([Profit / Sales] x 100) = Profit %
Payments: is the sum of the payments the customer has made for each visit
Balances: is the sum of how much the customer still owes
- Search Bar: The search bar in the top right of the table will allow you to search by the following: Reference Number, Visit Name, Client, Operation, Sales Rep
- Save Report: You have the ability to save the Job Labor Report and the filters that you have activated by selecting the "Save Report" button in the top right of the screen.
You will be given the option to create a name for your report; afterwards, the report will be stored in the "Saved Reports" section of your Reports Catalog.
- Export CSV: Finally, you also have the option to export the data table to CSV to further manipulate the information. Once you select the "Export CSV" button in the top right, only the data depicted on screen will be exported.
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