Labor Cost Worksheet

Understanding the costs associated with your Labors is important in getting accurate pricing figures. Your system comes with a Labor Cost Worksheet which helps you to calculate these costs and automatically adds them to the Hourly Cost field. This article will show you how to fill out the worksheet which can be found under Settings/Components/Labors/ (select a labor)/Labor Details.

A. The Labor Cost Worksheet can be found by clicking this link. B. This is the Labor Cost Worksheet where you can walk through the following steps to fill in this labor’s details.

C. The Settings section asks for your preferred method of entering information.

Note: Clicking Enter individual detailed expenses will give you the option to add expenses that might otherwise be overlooked in order to calculate an accurate profit margin. If selected, you will also need to choose whether you want to enter monthly or annual expenses.

D. Note: Clicking Enter a single total value of all expenses will give you one total expense to enter in the next step. If selected, you will also have to indicate if this total includes payroll or not.

E. The Monthly/Annual Expenses section is where you can enter all of your overhead costs.

Note: This will allow you to track your cost independently from what you charged your customers, helping you keep your price competitive.

F. The Monthly Payroll and Billable Hours section allows you to add each employee separately or sum each role’s hours together for an average and charge equally per person.

G. You can click the Add New Position button and fill in the necessary information.

H. The Business Variables section is where you enter in the days of the week that you are open, the number of holidays your business takes, and the average percentage of payroll taxes you pay.

Note: If you choose "Enter a single total value of all expenses" and "Does not include payroll" in Step 1: Settings, you will see the same features on this step.

I. Note: If you choose "Enter a single total value of all expenses" and "Includes payroll" in Step 1: Settings, you will not see the Taxes section on this step.

J. The Results section will compile all previous information together and give you your Labor Cost per Hour.

Note: This step is the same regardless of which settings you selected in Step 1.

K. When you’re finished, Click Save and Apply to close the worksheet.

Note: If you’re not ready to calculate your cost, click Save and Don’t Apply.

L. When filled out correctly the worksheet will automatically update your Hourly Cost field here on the Labor Details page.