Today we're launching Project Financials, the biggest addition to ReflectHub since we first went live.
In practical terms, ReflectHub can now turn awarded RFQs, expense invoices and logged hours into a live cost forecast. You can follow the numbers by task, stage or project, or look across the whole company. The goal is simple: know where your margin is heading before the final invoice tells you.
The Problem
On most construction projects, cost control still happens in a spreadsheet that sits beside the actual project. The spreadsheet is not necessarily wrong; it is just only as current as its last update. The forecast often lives in one person's head, and when that person leaves, the reasoning behind it leaves too. By the time the owner sees the margin slipping, there may be very little left to do about it.
Margin rarely disappears in one dramatic event. It slips away a little at a time: a subcontract awarded above the BOQ line, extra work taken on without a change order, or labor running past the estimate on a task nobody was watching closely. Traditional reporting tends to reveal this at month-end or handover. We wanted to show it while there is still time to act, right inside the project where the RFQs, invoices, hours and certificates already live.
Here is what is included. If you want the details, start with the Project Financials overview.
Cost Control
Each project gets one cost control grid. It shows every task's baseline, committed cost, actual cost and forecast, grouped by stage, with the project total pinned underneath.
Committed cost no longer has to be a number someone types in and forgets. Award a €48 000 electrical package and ReflectHub automatically creates a €48 000 commitment on the task. As progress invoices are allocated to it, the committed and actual costs stay in sync without anyone updating a separate field. Clear text alerts show which tasks are at risk, over budget or past 80% of their budget. When the monthly report is due, you can export the whole grid to XLSX. Read the Cost Control guide.
Forecasting & Earned Value
When a task has a baseline and a progress signal, ReflectHub calculates its earned value: the share of the baseline represented by the work completed so far. It then uses the task's spending efficiency to forecast the final cost.
For example, take a groundworks task with a €40 000 baseline. If it is 50% complete and has already cost €25 000, the forecast at completion is €50 000. ReflectHub tells you that getting back on budget is unlikely before the overrun becomes official.
The system forecast sits next to the project manager's own forecast. We keep the two separate on purpose, because the gap between them is useful: either the data is missing context or the plan needs another look. A forecast bridge shows, step by step, how the number moved away from the original baseline through change orders, spending efficiency, manual overrides and growing commitments. Each step links to the events behind it. If a task has no progress signal, it simply says No signal. ReflectHub does not guess. Read the Forecasting & Earned Value guide.
Contract Value & Change Orders
You set the contract value when the job is awarded, either manually or by copying it from the accepted offer. After that, only an approved change order can move it.
A change order keeps the revenue and cost sides together. Once approved, it updates the contract value and the affected task baselines at the same time. The original baselines remain visible, and the approved record cannot be edited afterwards. Scope changes are normal in construction. The real problem is scope changing without a paper trail. By giving every change its own number, decision and reference, ReflectHub keeps the margin at award comparable with the margin today. Read the Contract Value & Change Orders guide.
Labor Costs
On labor-heavy jobs, one of the biggest costs is often the one that never arrives as an invoice: your own team's time. ReflectHub now turns logged hours into labor cost automatically, using the hourly rate that applied on the date of each worklog. If a rate changes today, last quarter's costs stay exactly as they were.
Only owners and admins can see the rates. Project managers see the resulting labor cost per person, not the rate itself. Hours without a rate are counted at zero and clearly marked as unrated, so they cannot quietly disappear into the totals. Read the Labor Costs guide.
Billing & Cash Projection
Progress billing uses issued handover certificates and compares what you have billed with the value of the work completed. That makes it easy to spot €84 000 of finished work that has not yet been invoiced, or to see that billing is running ahead of progress.
Receivables and payables are grouped by how overdue they are. A monthly cash projection puts unpaid invoices, open commitments and planned billing on a timeline. If something has no date and cannot be placed on the chart, ReflectHub calls it out rather than quietly leaving it off. Read the Billing & Cash Projection guide.
Owner Portfolio
Owners and admins get one table covering every active project in the company. It shows contract value, forecast cost, margin, margin erosion since award and the number of at-risk tasks. By default, the projects losing the most margin are at the top, so you know where to look first.
The portfolio uses the same forecast data project managers see every day. There is no separate report to reconcile and no month-end delay. Each row links straight to that project's Finance overview when you want to see what is driving the numbers. Read the Owner Portfolio guide.
How It Fits Together
We followed one simple principle throughout: every important financial figure should have a source.
Awarded RFQs become commitments. Expense invoices and logged hours become actual costs. Approved change orders move the contract value and task baselines. Issued certificates become billing. Every financial change also goes into the finance event log, including who made it, when they made it, and the values before and after. You can open that history straight from the numbers themselves.
That trail is what makes the forecast useful. A number in a separate spreadsheet can be hard to explain. A number linked to an awarded quote, an invoice or a logged hour tells you exactly where it came from.
Availability
Project Financials is available now:
- Every plan — Core, Scale and Enterprise — includes the cost control grid and labor cost tracking.
- Scale and Enterprise add forecasting and earned value, contract value and change orders, billing and cash projection, and the owner portfolio.
You can compare the plans on our pricing page. Paid plans include a 14-day free trial, limited to one per company. Before the trial ends, we'll show you the date and amount of the first charge and send you an email reminder. Enterprise plans are available through our sales team.
We built ReflectHub so that information recorded at one stage is ready for the next. Project Financials brings that same idea to the money: the cost of a decision should show up when the decision is made, not when the final invoice arrives.
Get started → — or book a demo and we'll walk you through it.