You will also set up categories for overhead time such as staff meetings, general office, and accounting along with benefits like holiday, vacation, maternity/paternity leave, and personal time.
Video
Factors
Overtime Factor is the pay differential for extra work hours
Overhead Factor is applied to labor costs to account for company overhead. Overhead Factor
Target Profit Percentage is the desired annual net profit for the firm
Blended Billing Rate is the average billing rate for accrued time slips
This value is used by the system to calculate budget hours for phases
Blended Labor Rate is the average labor rate for accrued time slips
This value is used by the system to calculate budget labor for phases
Pay Period
Pay Period Interval Options
Biweekly
Weekly
Semimonthly - you can choose the start day of the pay period
Monthly
Starting Day of the Work Week
This is used when you select a date range such as This Week or Last Week
Time Slip Lock Date
If you enter a date, time slips from the entered date back will be locked from editing
Time Slip Auto Fill Comments - not much to say here
Time Slip Auto Fill - these items will prepopulate from the prior time slip to save time when adding new entries.
Activities
Activities are for you to track how time is spent as an overview. Think of it as a 5000-foot view of your labor efforts.
Admin/Overhead
Enter the categories you would like to use to track your overhead time. You can use the drag handles to chage their order.
Benefits
Enter the paid or unpaid time benefits you offer to your employees. You can use the drag handles to chage their order.