Everhour turns billable work into invoice-ready records, while a pricing worksheet keeps one-off price math clear.
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A pricing worksheet answers whether a quoted price covers delivery cost and leaves the profit target you intended. For a project, the useful output is usually gross profit, gross margin, operating profit, or selling price from a target margin. Each answer uses a different denominator, so the worksheet needs labels that separate cost, revenue, markup, and margin instead of treating them as interchangeable profit words.
The worksheet also helps you keep taxable and accounting concepts out of the quote unless they belong there. In the United States, gross profit for small-business tax reporting starts with net receipts minus COGS. Net profit comes later, after business expenses. State and local sales taxes require jurisdiction-specific handling because the United States has no federal VAT or national sales tax.
Start with the revenue side, then subtract costs in layers. For a service project, multiply billable hours by the client rate to get revenue. Then subtract direct delivery cost, subcontractor cost, materials, or other COGS-like project costs to get gross profit. Divide gross profit by revenue to get gross margin. Subtract operating expenses assigned to the job only when the worksheet needs net profit planning.
Example: a project bills 56 hours at $95 per hour, so revenue is $5,320. Direct delivery labor costs 56 hours at $48 per hour, or $2,688. A subcontractor adds $740, so project COGS is $3,428. Gross profit is $1,892, and gross margin is 35.56% because the denominator is the $5,320 selling price. If allocated business expenses add $520, planned net profit is $1,372.
A PDF worksheet works when the inputs fit on one page and the labels prevent common pricing mistakes. Use separate lines for units, rate, total revenue, direct cost, COGS, gross profit, gross margin, operating expenses, and net profit. Add a final review box for target margin versus actual margin. That structure gives you a fast quote check without forcing every small pricing decision into a full accounting workbook.
The biggest worksheet mistake is hiding the denominator. Markup divides profit by cost. Margin divides profit by selling price. A quote can show a 55% markup and a much lower margin, which changes the decision. For inventory or merchandise sales, COGS can require beginning inventory, purchases, labor, materials, other costs, and ending inventory. Form 1125-A line 8 carries COGS to the U.S. income tax return.
A one-off worksheet is enough when you need a quick selling-price check, a client quote sanity check, or a clean explanation of why a project needs a higher rate. It works for a static decision where the hours, cost, and price are already known. Save the PDF with the proposal so the assumptions remain visible when the client asks for a discount or scope change.
A managed workflow becomes necessary when hours, expenses, billable status, and invoice amounts change during delivery. Everhour Billing & Invoicing converts tracked billable time and expenses into invoices, calculates invoice amounts from rates while excluding non-billable tasks, and keeps invoice status visible after export to QuickBooks Online, Xero, or FreshBooks. That workflow replaces repeated worksheet edits with a billing handoff tied to recorded work.
This content is for general information only, may not be fully up to date, and is provided without any warranty or liability.
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A PDF can replace a spreadsheet for a fixed quote, printed review, or simple one-page pricing check. A spreadsheet works better when you need formulas that update across many products, sensitivity analysis, discounts by tier, or break-even modeling. Use the PDF for a controlled decision record, and use a spreadsheet when the inputs change repeatedly.
A client quote usually needs selling price and scope, not internal profit lines. Keep gross profit, gross margin, operating expense, and net profit inside the worksheet unless the client contract requires open-book pricing. The worksheet's job is to protect your decision before the quote goes out, especially when a discount lowers the price after costs are already known.
A pricing worksheet can show both, but it must label them separately. Markup uses cost as the denominator, while margin uses selling price as the denominator. A target margin is more useful for checking whether revenue leaves enough gross profit after costs. A markup is useful when your pricing policy starts with cost and adds a set percentage.
Reimbursable expenses need their own line because the treatment depends on the client agreement. If the client pays expenses separately at cost, keep them outside the service price and track them for reimbursement. If expenses are built into the fee, include them in the project cost before calculating gross profit and margin. The worksheet should show which treatment the quote uses.
A general pricing worksheet does not need income tax lines unless you are modeling after-tax profit. U.S. C corporations compute federal income tax on Form 1120 taxable income at 21%, with state taxes handled separately. Sole proprietors report business net profit or loss on Schedule C, and self-employment tax can apply when net earnings from self-employment are $400 or more.
Everhour Billing & Invoicing converts tracked billable time and expenses into client invoices. It calculates invoice amounts from billable time, project or member rates, and billable expenses while excluding non-billable work, then can export invoices to QuickBooks Online, Xero, or FreshBooks with status synced back to Everhour.
Use the worksheet for the quote, then let Everhour convert tracked billable time and expenses into invoices with rate-based amounts, non-billable exclusions, and accounting exports.
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