Overview

Profit & Loss is critical to any project accounting and financial tracking.  Check out the article below for info on what you'll see there.

What is P&L?

Parallax provides you with all of the information you need for smooth financial operations instead of tracking Hours, Revenue, Costs, and Margins in spreadsheets.

What you will see in a Project P&L Page

1. Project Info/Navigation Tabs - This will be the same Project Info and Navigation Tabs you see on each Tab in the Project Details page.  For more info check out this article.
2. Project Items - These are the segments you can view the remaining columns, broken down by Offerings. These segments include Hours, Revenue, Costs and Margin, each of which (except Hours) is split into those originating from Service Offerings and Other (added from the Costs & Revenue page).
3. Sold - This represents what was present at the time the Project was Sold within your CRM. The Sold Margin is the Total Revenue vs any Sold Total Costs (Service + Costs) 
4. Projected -This will be the expected Hours/Revenue/Costs/Margin if all future plans are completed. It is represented as (Past Actuals + Future Plans).
5. Actuals - These are the Actual results to date based on Timesheet submissions. 
6. Remaining - This is the remaining amount based on current progress.

Why Are Sold Costs and Projected Costs Different in the P&L ?

Sold Costs in the P&L tab:

• These are based on the Sold Snapshot, which is taken the moment the project is marked In Progress.
• It reflects:
  • The resource shape at that time (roles, hours, duration)
  • The assigned people (if any) and their cost rates
• Once the project is In Progress, this snapshot is locked and doesn’t change even if you update the plan later.

This gives you a benchmark: “Here’s what we thought it would cost when we sold it.”

Projected Cost in the P&L: 

• This is your live forecasted cost to deliver the full project.
• It’s calculated as: Projected Cost = Actual Cost + Remaining Cost

The amount will update dynamically as: 

• Time is logged
• Resource plans are reshaped
• People are reassigned
• Cost rates are changed (forward-looking only)

So if any of that changes after kickoff, Projected Cost will diverge from Sold Cost. That’s expected, and it’s good — it highlights project drift or scope creep.

Actual Costs: 

Formula: Actual Cost = Actual Logged Hours × Historical Cost Rate

Details: 

• Pulled from the timesheet system
• Parallax looks up the rate in effect when the time was logged (NOT the current one)
• This ensures historical cost accuracy — so retroactive rate changes don’t rewrite history

Remaining Costs: 

Formula: Remaining Cost = Remaining Planned Hours (in Shaper) × Current Cost Rate

• “Remaining” is what's left in the current shape (unlogged, future-looking hours)
• It does use the current rate for each assigned person or role
• If you've re-shaped the plan or swapped in more expensive (or cheaper) talent, it will show here

Overview:

Sold Cost reflects Snapshot at kickoff of project and the rate used at kickoff:  This does not change

Actual Cost reflects Logged Hours and the rate when the time was logged: This does not change

Remaining Cost is the planned hours that are left at the current cost rate: This can change 

Projected Cost is the actual plus the remaining which gives a mix of historical + current :  This can change 

What you can do in a Project P&L Page

This page is for viewing overall Project Financials.