This feature is only available in Clockwork Pro.
Clockwork empowers you to track revenue and costs as you're running your projects, allowing you to gain better insights into which projects are profitable and how much to charge the customer. Defining hourly costs and (billing) rates per user allows you to:
-
Stay on budget by seamlessly monitor labor costs alongside logged work
-
Simplify your invoicing with an easily configured, exportable report
-
Protect your project profit margins
To define and see costs and rates, a user needs to be in a group with the Clockwork Budgeting Access global permission. Only users with this permission can access Clockwork costs, rates, and revenue reports.
If you use Portfolio by HeroCoders, you can add Planned and Actual Cost and Rate columns to your Project Portfolios view.
Cost is the amount you pay per hour of the user’s time. Monitoring labor costs helps you keep your projects on budget.
Rate is the amount you will bill your customers for an hour of the user’s time. Capturing rates in your timesheets allows you to forecast revenue and simplify your billing process.
Setting-up Costs and Rates
To set up the currency displayed in your reports:
-
Ensure there is a user/group/role with the Clockwork Budgeting Access global permission. Only users with this permission can access Clockwork costs, rates, and revenue reports.
-
Log in as a Jira administrator and navigate to Jira settings > Apps > Clockwork configuration > General > Budgeting.
-
Use the the dropdown to select the appropriate currency.
-
Navigate to Apps > Clockwork > Teams and Users.
Per user hourly cost and rate set up -
Click on the Add user config button and select the user for whom you want to configure costs and rates.
-
Enter the Hourly Cost and the Hourly Rate for the user. If you’re making an update to a user’s costs and rates click on Add period, select the Effective Start Date of the new Cost and Rate and click Save.
-
Repeat the steps for each user.
The cost and/or rate defined here will be applied to all worklogs added for the given user in a given time range..
Viewing Costs and Rates (for Billable Time) on the Timesheet
To view costs or rates on a timesheet report:
-
Navigate to Apps > Clockwork > Timesheet.
-
Click on the Show as drop-down and select Cost (to see the cost of the time represented on the time sheet) or Rate (to see the amount you will bill for the hours on the time sheet).
To see only the cost/rates for billable hours, use the respective filters depending on how you mark your work as billable (custom field or worklog attribute. )
Export time, cost and revenue calculated from worklogs
When downloading worklogs to Excel, select the appropriate fields to export and include Cost and Rate to get a full overview of your time and financial investments.
