Calculate Specific Project Cost From Salay Slip

Currently, i used timesheet for my employee Salary Payment, and for every sheet in timesheet, i link it to a Project, since i want to know how exactly we spend for each project.

My question is, can i conclude how much spend for each project from Salary Slip? As per now i fill in 0 for each bill rate and cost rate because :slight_smile:

  1. i didnt invoice the bill rate to the client (bill rate)
  2. i think i already have the number for costing in each timesheet → converted to Salary Slip (cost rate).

Do i need to fill in the Cost rate so i can calculate how much spend for each project? I think it would be do “double” expense since i already spend in form of Salary Slip?

Appreciate your help.

Thanks & regards,
Randy

Hi everyone,

Anyone can give any insight or suggestion?

Highly appreciate it.

Thanks & regards,
Randy

You should try adding in the rate in the Timesheet. The only way to appropriate costs to different projects is via the timesheet as the salary slip may have hours worked by the employee on different projects.

So, go ahead, be brave and add the Cost/Rate in the timesheet. Most likely that will get expensed out on one side of your books and on the other side it will hit a Salary Payable account or something.

Hope this helps! :slight_smile:

Thanks

Jay

Hi Jay Ram,

Appreciate your input, so if i add the rate, it won’t affect the Account Tree Balance?
I think the cost rate doesn’t link to any Acoount, so i think it will save to add the rate just to know how much spend on each project. But, who know, so i ask here just to make sure :slight_smile:

Thanks & regards,
Randy

Hi Randy,

I am trying this too. It doesn’t look like it hits the Project P&L till you cut a pay slip. Let me know how this goes for you. I will too.

Thanks

Jay