Profit and Loss tracking

This is the process for profit and loss tracking for a project

 What Will be Covered

  1. What Expenses Need to be Tracked on a Construction Project 

  2. How to Track In-House Staff Costs

  3. How to Track All Project Receipts or Paid Invoices

  4. How to Track Subcontractor and Vendor Costs

  5. What Miscellaneous Expenses We don't need staff to track

  6. What Reports do you need to develop total profit and loss

  7. How to Develop Cost Reports


  1. What Expenses Need to be Tracked on a Construction Project 

    1. In-house Staff Hours

      1. Field Labor

      2. Project Manager

      3. Super Intendant 

      4. Estimators

      5. Design/Permit Coordinator

      6. Any Other Staff

    2. All Project (Receipts or Paid Invoices) Permit Fees, Materials, Rentals, Disposable Tools

    3. Subcontractor and Vendor Contracts and Payments(Glass installers, Lock Smiths, Specialty Finshers, Decals etc.) 

    4. Miscellaneous Construction Overhead Expenses


  1. How to Track In-House Staff Costs

    1. Field Labor (Carpentry, Labor etc.)- Use Builder Trend Geo-Fencing Feature.

    2. Project Manager- Use Weekly Hour Report

    3. Super Intendant- Use Weekly Hour Report

    4. Estimator- Use Weekly Hour Report

    5. Design/Permit Coordinator- Use Weekly Hour Report

    6. Any Other Staff- Use Weekly Hour Report


  1. How to Track All Project Receipts or Paid Invoices

    1. All Receipts will be uploaded into cost inbox feature on builder trend by the purchaser with the applicable job selected into builder trend.

    2. Under the cost inbox tab in buildertrend the receipt will be converted to a bill.

    3. Select the mark ready for payment button, then the record offline payment and the process is complete

    4. This will be performed once per week by admin.


  1. How to Track Subcontractor and Vendor Costs

    1. At the time of contracting or hiring a vendor create the vendor or sub a profile if they dont already have one(they do not need to be able to use buildertrend although it is preffered, just create the account for record-keeping)

    2. Then create a purchase order in buildertrend of the contract or agreed amount

    3. Once the work is performed or progress is made all invoices should be uploaded under the bills section in buildertrend and the bill should be applied to the purchase order

    4. Once the invoice is cleared to pay mark the bill as ready for payment

    5. Once the Invoice is paid mark bill as record offline payment and the process is complete


  1. Types of Miscellaneous Expenses we dont need staff to track (it gets tracked by bookkeeper already)

    1. Office-related

      1. Paper, Staples, Electronics etc.

    2. Tools, Equipment or Vehicle related 

      1. Gas

      2. Tool and Equipment 

      3. Maintenance

      4. Etc.

    3. Any other expenses purchased by staff



  1. What Reports you will need to develop total profit and loss

    1. Actual Cost Report of all Project Expenses (From Buildertrend Reports)

    2. Total Hours Worked Per Project  (From Buildertrend Reports)

    3. Total Hours worked Project Manager, Super Intendant, Estimator, Design/Permit Coordinator, Any Other Staff from completed  Weekly Hour Report per project



  1. Once you have all reports you will

    1. Add Actual Cost Report of all Project Expenses

    2. Add Total Hours Worked Per Project multiplied by the highest paid field staff hourly rate

    3. Total Hours worked Project Manager, Super Intendant, Estimator, Design/Permit Coordinator, Any Other Staff multiplied by their rate

    4. Compare this total cost the the total invoiced amount and this will produce your total profit and loss