Using the Time Analysis Document

Time analysis documents are available at a staff and a firm level. Time analysis documents detail the percentage of time spent on billable and non-billable time, and the effective rate for the staff member or firm.

The Effective Rate calculation is as follows:

Amount + Write up/down (if any) / Hours

The Write up/down amount on Time Analysis documents is the difference between the amount billed and the amount calculated for time or expenses entered.

Time analysis documents are not broken down by client. Both Time and Expense analysis documents display subtotals of non-staff entries.

Analysis by Staff

The Staff time analysis report is per staff member and includes all time entries entered by staff for the period specified.

Staff members have standard and overtime rates, which represent the cost to the firm of employing the individual. Staff members also have bill rates, which are assigned to work codes and represent the rates billed to clients based on the type of work performed. The Cost amounts on the Time Analysis represent the cost to the firm, while the Billable amounts represent the amount the firm can recover for work performed by the staff member. The difference between these two rates and the applicable amounts charged, represents the profit to the firm.

Analysis at the Firm level

The Billing Rate in the Firm Summary Time Analysis document is calculated by:

Total amount for the Work Code for the period / Total hours for Work Code for the period.

Therefore:

Profit Total billable = (Total billable + opening balance + Write up/down) - total cost

Profit Total firm = (Total firm time + opening balance + Write up/down) - total cost

Because the Firm time analysis report includes time entered in Opening Balances which is not assigned to a staff member, it is possible for the totals on these two reports to differ.