Hourly rates and Labor costs can be configured in the workspace.
These settings make it possible for timeghost to determine the revenues and costs of projects and to calculate a Profitability for projects and workspace members based on these values.
How and where these items are defined and when exactly they come into play, you will learn within this article.
Overview:
#01 Hourly rates
1.1 | Level 1: General Hourly rate for all workspace members |
1.2 | Level 2: Individual Hourly rate for specific workspace members |
1.3 | Level 3: General Hourly rate for specific projects |
1.4 | Level 4: Individual Hourly rate for project members of a specific project |
1.5 | Further notes on Hourly rates |
#02 Labor costs
#03 Profitability
________________________________________________________________________________
#01 Hourly rates
________________________________________________________________________________
Hourly rates stored in the workspace are applied to billable recorded times.
This automatically calculates the earnings.
Hourly rates can be defined in four different areas, which are evaluated differently in their prioritization:
Level: | Area: | Applies to: |
|
|
|
|
1 | Workspace settings | all Team members of the workspace |
|
|
|
|
2 | Team member settings | a particular Team member |
|
|
|
|
3 | Project
settings | all Project members of a particular Project |
|
|
|
|
4 | Project member settings | the particular Project member |
Important: It should be noted that timeghost always uses the level with the highest hourly rate specification for the respective user.
For example, if a project member creates a billable time entry and posts it to a project in which an individual Hourly rate is maintained for him (Level 4), this will be used even if all three other levels (Levels 1-3) have also been configured for him.
Level 1 | General Hourly rate for all workspace members |
o | The general workspace Hourly rate, initially applied to all workspace members for billable times, can be set within the workspace settings. |
o | Also defined here is the currency that applies throughout the workspace. |
o | Permissions in the workspace settings determine who can see Hourly rates and the evaluations based on them. |
o | The Hourly rate and currency can only be determined or changed by the administrator of the workspace. |
Level 2 | Individual Hourly rate for specific workspace members |
o | The individual Hourly rate for members of the workspace can be set in the settings of the respective team member. |
o | It overwrites the general user Hourly rate from Level 1 and is always applied to the corresponding user if no hourly rate prioritized to Level 3 or Level 4 is stored. |
o | The individual Hourly rate for a workspace team member can only be defined or changed by the workspace administrator. |
Level 3 | General Hourly rate for specific projects |
o | The project-specific Hourly rate applies to all project members of a given project and can be set in the settings of a given project. |
o | It overrides the general user Hourly rate from Level 1 as well as the individual user Hourly rate from Level 2, if applicable, and is always applied to the members of the corresponding project if no system-prioritized Hourly rate is stored at Level 4. |
Level 4 | Individual Hourly rate for project members of a specific project |
o | The individual hourly rate for project members applies to all project members of a specific project and can be set via the project settings in the settings of the respective project member. |
o | It is prioritized over all hourly rates from Level 1, Level 2 as well as Level 3, if also available, and thus overwrites them. |
o | Individual hourly rates for project members of a specific project cannot be defined for public projects, only for private projects. |
Further notes on Hourly rates |
o | Workspace administrators can see and edit the Hourly rate of each team member. |
o | Project managers can see and edit the hourly rates of those project members who belong to the project they manage. |
o | Regular users cannot see or edit team members' Hourly rates. |
o | Hourly rates in reports are visible only to administrators, unless the workspace setting "Can see hourly rates" is set to "Anyone". |
________________________________________________________________________________
#02 Labor costs
________________________________________________________________________________
Labor costs are configured for each workspace member individually in their personal user settings.
Here, as with the Hourly rate, the costs per hour are intended.
The currency applied is the same as the one specified in the Hourly rates within the workspace settings.
It is up to you, the administrator, to decide exactly which cost items make up the labor costs (e.g. only wage costs or wage costs and ancillary wage costs).
________________________________________________________________________________
#03 Profitability
________________________________________________________________________________
If Labor costs are maintained in the respective team member and the Hourly rates are also defined in the corresponding place(s), they are automatically offset each time times are entered according to the stored values.
This results in the respective Profitability of a project or the work of a workspace member.
Both evaluations can be viewed by the authorized person or group of persons via the navigation point Profitability.
Back to top
