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How to calculate the net profit of each project in simple way

Q:- Second thing I’m dealing with building materials, So we are giving a Project No for every entries For example: For the Project No X we buy 2 pens from a supplier-Y and sale the same to our client-Z Ok?
For this project we are spending Labour exp(if it is big leave) & transportation & packing exp exct… What I want to know is Whether we can put a project No for know about the P/L to the particular Project? If we track the Project No? I need to know all spend amount s ( For material & labor & transportation) & Received amount from Our client In order to know about the gain in the particular project?


Ans : - I think if you want to get net profit of each project, then cost center is better option for you. I have already written many tutorials in which I have described how to implement cost centers. If you did not read , then

Let’s take Cost centers tutorials for instance. In you case you have to make project x as cost center x and similar y project of building as cost center y . You can also make city or state vice cost category and after this you have to pass you voucher entries in respective cost center. This will be helpful for calculating net profit in respective project.

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Accounting Education: How to calculate the net profit of each project in simple way
How to calculate the net profit of each project in simple way
Accounting Education
https://www.svtuition.org/2009/05/how-to-calculate-net-profit-of-each.html
https://www.svtuition.org/
https://www.svtuition.org/
https://www.svtuition.org/2009/05/how-to-calculate-net-profit-of-each.html
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