Track team costs and profit

You charge your drivers for test days, hire and workshop time, but you also pay for track days, tyres, fuel, the van and the unit. At the end of the season you want to know whether the team made money, which meetings paid their way, and where the money went, without a spreadsheet.

The P&L page is for the manager only. Drivers, parents and mechanics never see it.

Before you start

• A team on AVB RaceLabs with an active team plan, and access to the web portal.
• Your receipts, as photos or PDFs, if you want them kept with each expense.

Add an expense

1. On the web portal, open Team > P&L in the sidebar.
2. Click Add an expense.
3. Enter the Date. An expense without a date is refused.
4. Choose a Category. There are 24, grouped as Circuit (such as Track & practice fees, Race entry fees, Awning & pit space), Kit (such as Tyres, Fuel & oil, Parts & spares, Engine rebuilds), People (such as Staff & mechanic pay, Coaching), Travel (such as Van fuel, Accommodation), Premises (such as Workshop rent, Storage, Insurance) and Admin (such as Licences & memberships, Software & subscriptions), with Other for anything else.
5. Fill in the Supplier and What for.
6. Enter the Amount (incl. VAT) and the VAT in it, if any.
7. To tie it to an event, choose it in Race meeting or session (optional): one of your race meetings or a Programme session.
8. For a regular cost, set Repeats to Every month or Every year, with an optional Until date.
9. Add the Receipt (photo or PDF).
10. Click Save expense.

To change one, click Edit. Delete removes it after you confirm.

Tip: Set the unit rent or your insurance to repeat once, and it appears in every month's figures without you adding it again.

Choose the period and the basis

At the top of the page:

• Period: This month, This quarter, This year, Last 12 months, or Custom with From and To.
• Basis: Invoiced counts income when invoices are issued, net of VAT. Cash counts money actually received and paid, VAT included.

Reading the result

The cards show Income, Expenses, Net profit and Margin. When you sell parts, they also show Cost of parts sold and Gross profit.

Three charts sit below:

• Income and expenses by month.
• Where the money goes: your expenses by category.
• Where the money comes from: your income by source, such as hire, sessions or the workshop.

By race meeting lists each meeting and linked Programme session with the income from it, such as that meeting's entry fees, the expenses you linked to it, and what is left. It shows which weekends paid their way.

The Expenses list shows every expense in the period with its category, amount, any receipt and whether it repeats. Credit notes you raised on invoices are taken off income.