Create a model to calculate billable hours

You can create a model that calculates salaries for employees who work by the hour. In this model, you set the bill rate, hours per month, and headcount. Then, you create a model line to calculate the sum total, and link the relevant budget line in your budget to the sum total model line.

To learn what models are and how to use them, see Models.

The following procedure is intended for an employee who works different billable hours each month. However, if the employee works a fixed number of hours each month, or there is a fixed rate for the year or the project, you can use the Contractor budget line instead of this model. For more information, see Contractor.

To create a model that calculates billable hours:

    1. From the Models list, click the plus sign .

    2. Select Add model.

    3. In the textbox on the top of the screen, enter a name for your model, like Billable hours model.

  2. Add an assumption called Bill Rate, in the Value field, enter the hourly amount to be paid, and in the Comment field enter Hourly rate.

  3. Add a model line called Billable hours and do the following:

    1. Set the Model type field to Various Amounts.

    2. Set the Change field to Each month.

    3. Set the Type of amount to #.

    4. Enter the monthly billable hours.

    5. Click Save.

  4. Add a model line called Headcount, set the Model type field to Headcount from Budget, link it to the budget line of employees working by the hour, and click Save.

  5. Add a model line called Billable hours total and do the following:

    1. Set the Model type field to Same amount/formula each month.

    2. In the Amount field, ensure that the dropdown in this field is set to the appropriate currency, click the Fx button , and enter the calculation Bill Rate x Billable Hours x Headcount.

      Billable hours Total budget line form

    3. Click Save.

  6. Now that you have created your assumption and model lines, in the main model page, click Save.

    A model that calculates billable hours salaries

  7. From the Inputs > Main tab, link the relevant budget line to the last model line you created, Billable hours total.

    Enter the model line in the budget line form