How to Manage Costs

How to keep track of your costs and your projects profitable.

Sara Foschini
Written by Sara FoschiniLast update 2 months ago

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.

The hourly rate refers to the amount of money billed to a potential client for that specific team member’s working time.

The hourly cost refers to the amount of money 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.

team member detail

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.

billable project

Scrolling down on the same page, you will find a couple of infographics. By default, each of them will give you a visual representation of the time spent on the project, but you could change the Metric from Time to Cost.

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.

project costs

On the Clients page

On the Clients list, you can 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.

Clients_total 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 Cost.

report 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.

table gear

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