The Labor Cost Report in Protiv helps you keep an eye on your labor expenses by comparing what you planned to spend (your budget) with what you actually spent. 💰
The Labor Cost Report is like a financial checkup for your projects. It shows you how much you budgeted for labor costs versus how much you actually spent. This helps you see if you're on track, over budget, or even under budget (woohoo!). 🎉
What's in the Report? 📄
The Labor Cost Report includes the following information for each job:
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Job Name: The name of the project. 💼
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ProPay Name: The name or ID of the ProPay associated with the job. 🆔
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Budgeted Hours: The estimated number of hours you planned for the job. ⏳
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Actual Hours: The actual number of hours worked on the job. ⏰
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Budget Amount ($): The amount of money you budgeted for labor costs. 💰
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Actual Amount ($): The actual amount of money spent on labor costs. 💸
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Variance (Hours): The difference between budgeted and actual hours. This can be positive (over budget) or negative (under budget). 📈📉
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Variance ($): The difference between budgeted and actual labor costs. This can also be positive or negative. 📈📉
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Percentage: The percentage difference between budgeted and actual costs. 📊
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Status: The current status of the ProPay (e.g., pending, approved, closed). ✅
How to Analyze the Report 🤓
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Look for Red Flags: 🚩 Any jobs with a large positive variance (in hours or dollars) are over budget and need your attention.
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Identify Trends: Are certain types of jobs consistently going over budget? This could indicate a need to adjust your estimates or processes. 🤔
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Celebrate Successes: Jobs with a negative variance are under budget – give your team a pat on the back! 👏
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Use the Data to Improve: The Labor Cost Report can help you make better decisions about budgeting, staffing, and project management. 📈
Pro Tip: Regularly review the Labor Cost Report to stay on top of your labor expenses and keep your projects profitable. 💰