Financials - project expenses and benefits at a glance

InLoox creates the planned and tracked expenses automatically, provided that you record the estimated efforts in the project tasks and record the actual time spent via the time tracking. You can manually change the individual datasets of the created items.

InLoox distinguishes between the following, automatically created, expenses:

• Expense (plan, resources): Based on the effort estimates of the project tasks. I.e. only if a task has an estimated effort of, for example, 3 hours, the calculated amount (effort * purchase price of the budget group) is displayed under Expense ( plan, resources).
• Expense (actual, time tracking): Based on the tracked time entries in the project. I.e. all time tracking entries created with or without task or planning reference in the project are used for the calculation.

Difference between Capital Expenditures and Operational Expenditures

Apart from the automatically created plans, you can create manuel expense plans. Expenses are categorized into Operational Expenditures (OpEx) and Capital Expenditures (CapEx).

• Operational Expenditures (OpEx): all costs that InLoox calculates automatically from the effort estimates of the tasks, as well as manually created operational costs, such as external development services or consulting services.
• Capital Expenditures (CapEx): all costs that you create manually in InLoox Financials, such as the costs for a new printer, a new machine or the vehicle fleet.

Distinction between expected benefits and tracked benefits 

You can balance the expenses with expected and tracked benefits . You create these benefits manually.

• Expected benefits : this plan represents all the benefits you expect to generate in the project context. InLoox calculates the expected benefits based on the sales prices of the group and the number of units, e.g. 15 hours of consulting service.
• Tracked benefits : this plan represents all the benefits  that you have already generated in the project context and that can be billed, if necessary.  InLoox calculates the tracked benefits based on the sales prices of the group and the number of units, e.g. 1 hour of technical support.