Costlocker guide
  • GETTING STARTED
    • What is Costlocker and who is it for
    • Registration and Company setup
    • Quick start in 5 steps
      • 1. Add People
      • 2. Create Activities
      • 3. Create Clients
      • 4. Create Projects
      • 5. Time Tracking
    • What's next?
  • Projects
    • Managing a Project
      • Creating a Project
      • Creating a Project by Duplication
      • Auto ID
      • Tags
      • Responsible People
      • Discount on the project
      • Project Billing
      • Finishing a Project
      • Exporting the Budget
      • Locking a Project
    • Recurring project
      • Creating a Recurring Project
      • Working with a Recurring Project
      • Manually Duplicating a Recurring Project
    • Types of Budgets
    • Project Detail
      • Overview
      • Report
      • Alerts
      • Cost Estimate
      • Billing
      • Rates
      • Business Reports
      • Timesheet
      • Notes
    • Project Expenses
      • Project Expenses Report
    • Billable vs. Non-Billable Hours
  • People
    • Adding people
    • User Roles
    • Activating / Deactivating a Person
    • Salary
    • Bonuses
    • Calculating an Employee's Hourly Rate
  • Activities
    • Creating Activities
    • Activating / Deactivating an Activity
  • CLIENTS
    • Creating a Client
    • Activating / Deactivating a Client
    • Setting Default Client Rates
  • Time Tracking
    • Time Tracking
  • Timesheet
    • Daily Time Entry
    • Weekly Time Entry
    • Timesheet Views
      • Summary
      • Day by Day
      • Weekly
      • Live
  • Reports
    • Company Performance
    • Report of Finished Project
    • Workload
    • Business Reports
    • Project Expenses
    • Billing
  • Profitability
  • Your Company
    • Basic Overviews
    • Alerts
    • Overhead Costs
    • Fixed and Monthly Rate
    • Calculation of Overhead Cost per Worked Hour
    • Analysis Cost Allocation in projects
  • Settings
    • My Account
    • Desktop Application
    • Company
    • Groups
    • API
  • Applications
    • MacOS Application
    • Windows application
    • iOS Mobile Application
  • Integrations
    • Integration with Make
    • API
  • Subscription
    • Trial period
    • Switching to a Paid Account
    • Subscription Settings
    • Billing email adress
Powered by GitBook
On this page
  • How Are Bonuses Allocated to a Person's Hourly Rate in Projects?
  • Employees with a Monthly Salary
  • Employees Paid by the Hour
  1. People

Bonuses

Ideal for recording bonuses and rewards for individual employees. Bonuses document one-time expenses that we allocate to a specific person as a cost for a given month.

Bonuses can include one-time rewards and, for example, costs for specific equipment or services related to a particular person.

It is important to keep in mind what we include in bonuses when subsequently evaluating reports and the profitability of your team members.

How Are Bonuses Allocated to a Person's Hourly Rate in Projects?

Employees with a Monthly Salary

Calculation with Monthly Rate

For employees with a monthly salary, all bonuses for the given month are added to the monthly salary. This is considered the monthly cost for the person, from which the hourly cost is calculated - see Calculating a Person's Hourly Rate.

Calculation with Fixed Rate

Bonuses are not allocated for employees paid by the hour. They remain as costs outside of project allocation.

Employees Paid by the Hour

Calculation with Monthly Rate

Costlocker performs a similar calculation as for employees with a monthly salary. We sum all bonuses for the given month, divide them by the total number of tracked hours in that month. This calculates the "hourly cost for bonuses." This is then added to the hourly rate. This way, we calculate the total cost per hour of work for the person.

Calculation with Fixed Rate

Bonuses are not allocated for employees paid by the hour. They remain as costs outside of project allocation.

PreviousSalaryNextCalculating an Employee's Hourly Rate

Last updated 4 months ago