Calculate your hourly time costs
- Select the Projects menu.
- Select Hourly cost rate. This opens the hourly cost rate window.
- Select Add Employee.
- Select + Add next to a worker’s name.
- Select the calculator icon to pull up the hourly cost calculator.
- Add your worker’s hourly wage and employer taxes (per hour).
- When you’re done, select Add to save their hourly cost rate.
- You can also enter their additional employer taxes, workers’ comp, and overhead.
- Repeat these steps for each worker.
Your payroll provider should have reports that will help you calculate these costs. Overhead is made up of many different costs. Follow the links if you need help with calculating your overhead.
Add project timesheets
Now that you’ve added hourly time costs for each worker, it’s time to add their project hours.
- Select the Create (+) button, then select Weekly Timesheet.
- Select your worker and the week you’re entering time for from the drop-down menus.
- Select the project from the Choose a customer or project drop-down menu. This will tag the timesheet to the project.
- Fill out the timesheet.
- You can check the Billable (/hr) box and edit the billable rate (the price you’re charging your customers) if you plan to invoice your customer for specific project hours.
If you make a timesheet billable
- Select the Projects menu and open the project.
- Go to the Transactions tab.
- Find the timesheet on the list.
- Select Create invoice from the action column.
- Complete the invoice and send it to your customer.
If you’re using TSheets, you can approve time in QuickBooks and import your timesheets directly into projects.
See your profits
You’ll see a snapshot of your income, costs, and profits in the header of every project page. You can get more details in the Overview tab. This is where you’ll see your hourly time costs separated from other project costs.