Project Financials: Fees per Month [Early Access]

 
Project Permissions: View Financials, Edit Financials, Project Administrator

Overview

The Fees per Month feature gives anyone with View Financials (or higher) Project Permissions clear, real-time insight into fee utilization on the project—with chart and table views that let you explore your forecasted fees and actual fees in each period compared to your budget. Your forecasted fees are calculated based on the time and expense account settings managed by your Account Administrator.

On this page, you can see a visual representation of your project’s Estimate at Completion (EAC) each month compared to the project’s budget, as well as what fees contribute to these totals. The EAC reporting is consistent with what you see in the Project side panel, but it allows you to take a deeper look at the month-over-month details. You can even expand the Actual Fees and Forecasted Fees columns to see a cost breakdown of the hours, expenses, and other items that make up these totals in each period.

These views update in real-time based on activity in Kantata, allowing you to see how forecasted and actual fees can affect a financial period and your project’s bottom line. For example, you can see:

• How reducing scheduled or allocated hours for resources can lower your forecasted fees
• How an influx of logged expenses can increase your actual fees

Actual vs Forecast Fees Chart

The Actual vs Forecast Fees chart is a visual representation of your EAC in a project compared to the project’s budget. You can keep tabs on how your actual fees and forecasted fees are affecting your bottom line by comparing these numbers to your budget.

The following lines appear on the chart:

• Budget—This is the budget entered in project settings.
• Actual—This is all billable time, expenses, and other items that were entered before yesterday or—depending on the Project Estimate Calculation Options selection in your account settings—a previous specific day of the week, like the previous Sunday.
• Forecast—This is all future expense budget items and future hours—either scheduled or allocated hours, depending on your time and expense account settings.

Hovering over any given month on the chart shows you the budget and fee amounts for that period.

Fees per Month Table

Below the chart, you can look at actual fees or forecasted fees information within each financial period.

To expand both the Actual Fees and Forecasted Fees columns and see what is included in the total, click the Expand (“   ”) icon.

The following columns are visible when Actual Fees is expanded:

• Total—This is the total amount of actual fees, which is a sum of the columns below.
• Billable Time—This is the total fees for all billable time entries within the period.
• Billable Expenses—This is the total fees for all billable expenses submitted within the period.
• Expense Markup—This is the total fees for expense markup within the period.
• Additional Line Items—This is the amount of any additional items added to invoices within the period.

The following columns are visible when Forecasted Fees is expanded:

• Total—This is the total amount of fees forecasted for this period, which is a sum of the columns below.
• Allocated Hours—This is the total cost of future allocated hours.
• Scheduled Hours—This is the total cost of future scheduled hours.
• Expense Budgets—This is the total fee amount of future expense budget items.

To hide any columns you don’t want to see, click the Configure Columns icon on the right side of the table and deselect the respective checkbox.