The situation
A contractor agrees a fixed contract price and needs to know whether the work is still profitable as costs arrive. A spreadsheet can show a starting estimate, but it becomes difficult to keep the latest purchases, labour and subcontracting costs together.
Set up the project
Create a new project in Project Room and enter the optional contract budget. This establishes the amount against which expenses can be compared. Keep the budget aligned with the contract value you intend to track; it is not a replacement for formal accounting.
Record costs as work progresses
Add relevant project expenses, such as materials, subcontractors, labour and equipment. Project Room subtracts recorded expenses from the budget so you can monitor the remaining amount. Review the result after each meaningful cost update rather than waiting until the project is complete.
Use the information
If remaining profit is shrinking faster than expected, investigate the cause: unplanned work, underestimated quantities, expensive equipment or a change in scope. Project documents and reports help keep the project history together.
When this is useful
This workflow suits a business that quotes a fixed project price and wants a simple, ongoing view of financial progress without a subscription-based management system.
Illustrative workflow, not a financial or accounting recommendation. Availability and exact screens can vary by application version.