Creating a Subscription Schedule

To add a monthly subscription revenue schedule to a project, follow these steps:

Make sure that the Project has the Subscription Record Type
In the Main Projects list view, highlight the project for which you want to create a revenue schedule

Click the edit button on the toolbar
Enter a value for the following fields:

Subscription Price

The total value of the contract (monthly charge * number of months) i.e.: $120,000

Subscription Months

The number of months for this subscription schedule i.e.: 6

Subscription Start Date: i.e.: 2/2/2015

When you want the subscription schedule to start

Save the project

Project Pulse will automatically generate individual records for each revenue schedule, for the […]

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Accounting for indirect project costs

Project Pulse has powerful financial capabilities for revenue forecasting and revenue recognition (reporting).  Some of our customers like to include indirect costs such as employee benefits or overhead as a percentage of labor costs in their financial calculations.  When creating your projects, set the value of the Indirect Cost Rate field value to account for indirect costs.  The default value is 1.0   If your indirect costs average 15%, then set this value to 1.15

The effect of doing so will be to increase your labor cost calculations by this percentage, which makes the net revenue calculation more accurate.

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Forecasting project expenses to improve revenue forecasting

Project Pulse has a nice feature which allows project managers to forecast expected project expenses (Estimated Charges).  Examples of such might include travel expenses, equipment purchases or payments to vendors.

Each forecasted expense contains an Amount field which is your cost field and a Bill Amount field which is the value to be charged back to the customer.  These values can be the same if expenses are not marked up, or different if they are.  Of course, expenses have an IsBillable attribute to determine whether or not to bill the customer for that expense.

Project Pulse provides financial metrics for estimated project […]

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Adjusting project start dates

It is not uncommon for project starts to be delayed for a multitude of reasons, and with most PSA tools it can be a very tedious effort to manually shift all of the project tasks dates.  Project Pulse has a very useful feature which allows project managers to shift the entire project backwards or forward in time with a simple edit to the Project Task Date Offset field.

Simply enter the number of days you wish to move the project and hit Save.  Use positive integers to move the project start date later in time, and negative integers to move the […]

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Creating project templates

Many of our customers deliver the same type of service(s) on a regular basis for different customers.  One of the best ways to ensure consistent project performance across teams is to create project templates for each type of service delivered.  For example, if one of our service offerings is to do a particular type of integration, then create a project template which contains the activities (tasks) and work assignments required to deliver that service.  The template then represents your best practice for delivering this service to your customers.  Each project team follows the prescribed project plan, ensuring consistency of service delivery, […]

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