Fresh Projects allows you to set the historical values of staff members' cost rates. This provides accurate reflections of salary fluctuations with time, prior to the staff member's start on Fresh Projects. The more accurate these cost rates, the more accurate the Actual Cost assigned to a project derived from the timesheets.
Altering historical cost rates can be done as follows:
- In the main menu section, click Financials and select Cost Rate History from the drop-down list.
- You can choose whether to see one staff member's monthly history, or all staff members' cost history for one month.
- Select the relevant Employee or Month, depending on the option you chose in step 2, and click Load.
- Now select the row entry that corresponds to the relevant Month or Employee for which the Cost Rate needs to be changed.
- Set a new Manual Rate and click Update All Project Costs.
- In the Cost Rate History view, that entry will now be marked to have a manual rate.
We hope this article was helpful. If you have any questions, please do not hesitate to reach out to us. Our support team is always happy to help!