Rates & Costs in Hours or Days

Revenue and Cost can be presented in Hours or Days. There are fields available for Page Layouts and Reports that show various Project financial Metrics in Both Hours or Days.

07-Mar-2022
Knowledge

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Rates & Costs in Hours or Days

URL Name

Rates-Costs-in-Hours-or-Days

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Reporting in Hours

Hours is the natural calculation as all time in Precursive is captured on timesheets as an hour or fraction of an hour.

Reporting in Days

Days are calculated by converting back to the Hours as a fraction of the Resources Working Hours Per Day (which is identified on the Resource record).

When Planned or Actual Time is captured on Timesheets in small fractions of Hours (e.g. 0.10) then this will cause rounding anomalies when converting the in Hours to Days. this may appear as a different in Cost/Revenue when reporting this as either Hours or Days - if there is a different then the Hours metric will always be the most accurate.

Where Resources may have different Hours Per Day Precursive will treat their Hours Per Day as a Full Day Rate. Example: With an Hourly Rate of $125 and a Daily Rate of $1000. Where Resource 1 was defined with Hours Per Day as 5 and Resource 2 with Hours Per Day as 8. When both Resources recorded 1 hour then the Revenue in Days for Resource 1 would be $200 and Revenue in Days for Resource 2 would be $125; both would report their Revenue in Hours as $125.

Impact of Rounding on Reporting

Rounding differences between Precursive Salesforce Reports

The metrics shown on Projects, Phases, and Participants may differ from the values that appear in Salesforce Reports due to differences in rounding. Salesforce Reports will Round each Timesheet Entry and Activity where as Precursive will Round the Sum for each Participant, this rounded Participant Sum is then aggregated to the Phase and Project. This would explain minor differences in values between Precursive Budget Info and Salesforce Reports.

How remainders may impact the metrics shown on Projects, Phases, and Participants.

In a similar way, the Planned Time in the 'Budget Information' tab of Phases and Projects may differ slightly from the totals in the Precursive Plan. For example, if you book 336 hours on a Project across 3 resources, that will show on the Precursive Plan tab. However, on the 'Budget Information' tab on the Project/Phase record, the 'Planned Time' will show as 335.79 hours. That is because 'Planned Time' is calculated based on Planned Hours in Timesheet Entries. So for example, if you create a booking for 3 days long (Mon-Wed) and put 10 planned hours in total, then in order to create timesheet entries, the system will divide these 10hrs / 3 days which results in 3.33hrs per day. Therefore, when these are summarized to pull the total 'Planned Time', the result will be 9.99 hrs instead of 10.