Profit Centers
Nicole avatar
Written by Nicole
Updated over a week ago

In this article, we’re going to explain a little bit about the Profit Centers feature of Táve and how to set it up in your account to fit your needs.  When setting up your account you’ll see that the Profit Centers widget is a standard option to appear on your dashboard. Enabling this will allow you to see your year-to-date business revenue and profits as well as the number of jobs past and future for each profit center type.  We’ll first start with how to customize your profit centers reporting based on your business practices.

Creating Your Custom Profit Centers

You’ll begin by heading over to Settings › Profit Centers, where you can edit, delete or add to the existing default profit center groups.  You can think of your profit centers as different categories of work you perform at your studio, and you can create them more broad or specific, depending on how detailed you’d like this reporting to be.  For example, below you can see a sample profit centers list showing a separate profit center for each distinct type of session or other income this studio takes in.  On this screen, you’re simply creating the categories of profits you’d like to track.  The next step below will show you how to assign your jobs to the appropriate profit centers.

Assigning Your Profit Centers to Your Jobs

In order to ensure that your profit centers are tracked accurately, after creating the different profit center groups that fit your studio needs, you’ll go to your account job types at Settings › Job Types.  When editing each of your different job types, you’ll notice that you can select the profit center (or category) to which it belongs from the Profit Center dropdown.  As you modify your profit center groups, you’ll see this list reflect your changes.

Viewing Your Profits by Profit Center

Now that all of your profit centers are set up as you’d like, it’s time to see them in action!  When viewing from your dashboard widget, you’ll see something similar to the screenshot below.  The profit centers dashboard report will show you some stats for the current calendar year, including your studio’s total revenue, profits, overhead and number of jobs.  Below those statistics, you’ll see a breakdown of the number of jobs you’ve booked for the surrounding years per profit center you’ve set up.  You’ll see that you can click through those counts to see a list of the jobs tallied.

Do you want a little more detail?  You can view a more in-depth report on your profit centers by going to the Reports section of your account and select Profit Centers from the list of Accounting reports or by clicking the ‘Full Report’ button in the upper right hand corner of the dashboard widget.

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