How to keep track of your costs and your projects profitable
How to set a user's Hourly Rate and Hourly Cost
From the Team page, by clicking on a team member’s name, you can decide to assign an hourly rate and an hourly cost to your user.
This will help you calculate the profitability of your projects.
Hourly rate: it refers to the amount of money that will be billed to a potential client for that specific team member’s working time.
Hourly cost: it refers to the amount of money that the company is spending, internally, for that specific team member’s working time.
Only Owners can allocate an hourly rate or an hourly cost to their employees.
How to keep track of your costs
On the Project details page
At the top of the Project overview page, you will find a recap of the status of your project. If the project is billable, you will have the total time spent on it, and immediately below, the same value translated into Total money and Total costs.
Scrolling down on the same page, you will find a couple of infographics. By default, each one of them will give you a visual representation of the time spent on the project, but you could change the Metric from Time to Costs.
The possibility of switching between Time and Costs works the same in all the other infographics that you will find in the rest of the tabs, like Team, Phases, and Tags.
On the Clients page
On the Clients list, you could see the Costs immediately stated in the last column of the table.
If you click on one of the Client's names and move to the Projects tab, you will find another table showing all the projects linked to that Client and their costs.
Also, you could expand each project and see all the different Phases and their specific costs.
When building a Report
Our newly designed reports are composed of widgets, to give maximum flexibility to our users when extracting the dataset they are looking to review.
There are two kinds of layouts for our widgets: infographics and tables. In the first case, you can change the metric of each widget from Time to Costs.
In the second case (the table) you can click on the setting gear, at the top right corner of the widget, and select what kind of content you would like to be visible. Here is where you can check (or uncheck) the Total cost item.