Customer Profitability Reporting

What is the best way to get accurate customer profitability reports?

Issues we are facing:

  1. The built in Profit and Loss reports seemingly require labor entries to be invoiced for the cost to be added. Generally the cost calculation on the Profit and Loss reports is confusing and does not seem accurate.

  2. We have several technicians and each has a different cost ranging anywhere from $10/hour to $50/hour depending on their position. There doesn’t seem to be a way to set a cost based on which technician is logging time.

  3. We tried manually creating the reports using Excel, but there doesn’t seem to be a way to show the per client time filtered by technician (ie. Joe spent 5 hours on customer X at $20/hour, John spent 2 hours on customer X at $50/hour, total labor cost for month = $300/hour).

  4. At this time the only way to get the accurate reports seems to be doing a customer detail report, then manually add up the individual time entries from each person, calculate the total cost, then calculate with Excel.

Has anyone found a better way to do this?