Feature Requests:
Fixed Cost Projects

1. • CommentAuthorjharris
   • CommentTimeJan 14th 2008

    
   Our company does mostly fixed cost projects rather than time and materials, how can I account for this in Intervals? My specific concern is that I haven't been able to figure out how Intervals would calculate a correct Actual Bill Rate. For example, I have a fixed cost project of $10,000. The bill rate on each work type is $100. If 200 hours are billed to the project, I would expect the actual bill rate to drop to $50, but I don't see that happening. How can I account for this?
2. •  
     CommentAuthorMichael
   • CommentTimeMar 5th 2008

    
   The hourly rate calculations within Intervals rely on the "Estimated Work" that has been entered for a project, the actual work that has been done, and any payments. For payments, if the invoicing functionality is being utilized the payments are most likely being entered as well. If invoicing is not used, payments can be directly applied to the project. This functionality exists primarily to calculate hourlies.
   
   For one of our projects, here is what the project dashboard displays:
   
   Estimated hourly rate: $138.21
   The estimated hourly rate is based on the estimated work that has been set for the project. It is calculated by totaling the estimated work and dividing by estimated hours.
   
   Actual hourly rate: $140.06
   The Actual hourly rate is based on actual work performed under this project. It is calculated by totaling the actual billable work done, divided by billable hours.
   
   Actual dollar per hour: $105.04
   The actual dollar per hour is computed by dividing your total payments (minus any fees) by all billable hours entered for this project.
   
   Interpreting these numbers tells me that the estimated work that was entered at the beginning of the project and the actual work that been done are very similar. The hourly rates are pretty close ($138 vs. $140). The last number (Actual dollar per hour) factors in payments. This number tells me that if we do not get paid again for this project we will have been paid at $105 per hour. Since it is lighter than the other two, most likely the client needs to be invoiced. The actual dollar per hour is the bottom line number.
3. • CommentAuthorjnhearne
   • CommentTimeMar 12th 2008

    
   Great Description Michael. I never understood this part. Now I get it.