Key Benefits:

• Track costs and expenses for each project.
• View profit/loss reports for better decision-making.
• Provides insights into the profitability of the project through easy-to-understand graphs.
• It integrates with the Timesheet app to track employee work hours and expenses.

2.1 Project Cost

• Record project-related costs, including revenue and expenses.
• Specify cost amounts, dates, descriptions, and payment status (paid/unpaid).
• It can be managed from both the project form and project settings.

2.2 External Expenses

• Track external expenses such as labor costs, hosting, and transfer fees related to the project.
• Add and manage external costs directly in the project settings or through the profit/loss dashboard.

2.3 Employee Expenses

• Employee expenses are automatically fetched from the Timesheet entries.
• The employee's work hours and costs are reflected in the project settings under the employee expenses tab.

2.4 Profit/Loss Report and Graph

• Visual representation of profit or loss for each project.
• Easily accessible in the reporting section of the project.
• Calculates profit/loss using the formula: Project Total Cost - (External Expenses + Employee Expenses).

2.5 Profit / Loss Summary on Project Views

• Display the profit or loss for each project directly on the project list and kanban view for easy tracking.

Location 1: Projects > Profit / Loss > Project Cost

Project Cost - Add New Cost:

1. Navigate to Projects > Profit / Loss > Project Cost.
2. Click Add New to record a new project cost.
3. In the form that opens, enter the following details:
   • Project: Select the relevant project.
   • Cost Amount: Enter the cost amount.
   • Description: Provide a brief description of the cost.
   • Date: Specify the date the cost was incurred.
   • Status: Select between Paid or Unpaid.
4. Save the entry.

External Expenses - Add New Expense:

1. Navigate to Projects > Profit / Loss > External Expenses.
2. Click Add New to record a new external expense.
3. In the form, enter:
   • Project: Select the relevant project.
   • Description: Add details about the expense.
   • Date: Enter the date.
   • Expense Amount: Specify the amount of the external expense.
   • Status: Choose Paid or Unpaid.
4. Save the expense entry.

Location 2: Projects > Project Settings > Project Cost / External Expenses Tabs

Project Cost in Project Settings:

1. Navigate to Projects > Project Settings.
2. Click on the Project Cost tab.
3. To add or modify a project cost:
   • Description: Enter a description of the cost.
   • Date: Select the date of the cost.
   • Cost Amount: Enter the cost amount.
   • Status: Choose between Paid or Unpaid.
4. Save the changes.

External Expenses in Project Settings:

1. Go to Projects > Project Settings.
2. Click on the External Expenses tab.
3. To add or modify an external expense:
   • Description: Enter a description.
   • Date: Select the relevant date.
   • Expense Amount: Specify the amount of the external expense.
   • Status: Choose whether it's Paid or Unpaid.
4. Save the changes.

Location 3: Projects > Project Settings > Employee Expense Tab

Employee Expenses:

1. Navigate to Projects > Project Settings > Employee Expense tab.
2. Employee expenses are fetched from Timesheet entries automatically.
3. These expenses will be displayed for each project and updated based on employee work hours recorded in the Timesheet app.
4. The system aggregates employee expenses and presents them within the project settings.

Location 4: Projects > Reporting > Profit / Loss Graph

Profit/Loss Report:

1. Navigate to Projects > Reporting > Profit / Loss Graph.
2. A graphical representation of the project's profit and loss will appear.
3. The report will include:
   • Project Total Cost
   • External Expenses
   • Employee Expenses
   • Net Profit/Loss (calculated using the formula Project Total Cost - (External Expenses + Employee Expenses)).

Location 5: Project List and Kanban Views

Profit/Loss on Project Views:

• Each project's Profit or loss is displayed in the Project List View and Kanban View.
• This gives quick insights into each project's financial health, including both expenses and revenue.

The app calculates the profit or loss of a project using the following formula:

• Profit/Loss = Project Total Cost - (External Expenses + Employee Expenses)

Where:

• Project Total Cost: This includes the total revenue or cost recorded for the project.
• External Expenses: These include all third-party costs such as labor, hosting, transfer fees, etc.
• Employee Expenses: These are automatically pulled from the employee's timesheet entries for the project.

Version 1.0 (Initial Release)

Release Date: 2025-01-01

Features added:

1. Project Cost Tracking
2. External Expenses Management
3. Employee Expenses Integration
4. Profit/Loss Report and Graph
5. Profit / Loss Summary on Project Views

This initial release provided a comprehensive asset management solution, enabling businesses to efficiently track, maintain, and analyze their assets throughout their lifecycle.