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
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  1. People

Salary

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Last updated 4 months ago

How to set Employee salary

The method of compensating an employee is also used by Costlocker to calculate costs and allocate them to projects. This setting can be changed at any time.

  • Monthly Salary: regular monthly salary and workload.

  • Hourly Rate: payment for hours worked, ideal for freelancers.

Example

In our example, we have the following colleagues with their salaries.

Name
Role
Type of Employment
Salary and Workload / Hourly Rate

Arthur Smith

Employee

Salary

$6,400; 80h / month

Jessica Miller

Employee

Hourly Rate

$120 / hour

John Jackson

Employee

Hourly Rate

$80 / hour

Margaret Collins

Admin

Salary

$16,000; 160h / month

How to set up salary

  1. In the People tab, select the person whose salary you want to set.

  2. In the details, click on Edit Person.

  1. Go to the Salary tab.

  1. Add Monthly Salary or Hourly Rate. For example, a salary of $12,000 and 160 hours per month.

  1. Click Save and return to the list of all people using the top tab People.

  2. In the list, you will see each person and their set salary, or hourly rate.

We recommend setting the most accurate salary possible, including all deductions etc, and updating it regularly. This way, you will have more precise data in project reporting.

In Costlocker, we always calculate a salary that is valid from the first day of the given month. This salary is used in all overviews and reports.

Edit person
Salary tab
List of people