Turning your time into money with Rate Sheets
This feature is in beta.
Supervisors in your Noko account can take any report and turn time into money with just a few clicks. It’s not magic, it’s rate sheets!
Calculating a report and starting a new rate sheet
You can create a new rate sheet from any report by clicking on the green calculate button. You’ll see a list of any active rate sheets in your account along with a pink new rate sheet button.
Creating a new rate sheet
First, you’ll need to label the rate sheet. You can also customize what currency should be used and add notes to help you keep track of important details.
You’ll also need to set a default rate for the rate sheet. You’ll be able to override it in the sections below, but this makes sure your calculations have a baseline. Not to worry though, you can set that a default rate to zero if you really need to.
After you’ve set your default rate, you can set any custom rates. There are three types of custom rates:
- A project-specific rate
- A default rate for a person
- A project specific rate for a specific person
Saving a new rate sheet
Once all the rates have been set up, you can click the save button and Noko will automatically calculate the rates for this report.
Viewing a calculation
Now I’ve got the cost for each user and project per month separated by their billable status. I can use this to see what our most profitable projects are, the true cost of our unbillable time, and make sure we’re working effectively.
Sharing a calculation
I can share this with other supervisors using the rate calculation’s URL. Or, click any of the download buttons to get a version of the calculation as a PDF, Excel and so on; and share that. You can also easily print a calculation: just press Control + P if you’re on Windows or Command + P if you’re on a Mac and print directly from your browser; no need to download a PDF!
For complex reports, you can also click the pink save button at the top of the calculation, and Noko will have it ready for you whenever you click on rates in the left [00:02:00] sidebar.
Team and Tag-based calculations
Want to calculate tag or team-based rates? Setup the user and project rates for the tags or teams, then run a report for those tags/teams and use this rate sheet. Since tags can be used in endless combinations and teams can have overlapping users, this is the most flexible & painless way to calculate those rates!