When resources are scheduled, it is possible to track the cost of those resources against your projects – independently of any service related costs. This guide explains how to set that up.
Each resource in iCFM holds values for
currency. By entering this information you are telling the software how much it costs per day to use that resource.
By knowing this information, we can add costs to a Project as it is scheduled. We know how many hours / days an item is scheduled for – so we can then take that information and multiply it by the rate.
On Projects where the Resource currency is different to the Project currency – we use the most current exchange rate to figure out the correct value.
To add Rates to a Resource:
- From the main menu, select “Admin Tools”.
- Select “Resource List”.
- Using the search criteria, find the resource you want to enter a rate for.
- Click the yellow paper and pen icon to open the Resource editor.
- Enter values for the Rate and Currency boxes. Note that the Rate is per day.
- Save the resource.
There are some configuration changes that may need to happen before the next process will work. There is a setting within the iCFM software code named
TRACK_RESOURCE_COSTS_IN_GEKKOwhich will need to be enabled. Ask CETA to do this for you if you want to start using this feature.
Once enabled, adding, removing or updating Resources on Jobs will create some additional records in the Gekko table. These records will be defined as “Cost” in the category – and the “Service” used will be as per the
There are some processes to improve the calculations of long-form bookings. eg. A Job that spans a week is not really happening 24 hours per day, although a simple calculation would think it was. In fact – just 5 days are billable – and of those 5 days, only 10 hours per day are to be counted.
The iCFM software knows how many ‘working hours per day’ there are, and it can check to see if a Job spans a weekend. If any part of the Job starts of finishes on a weekend, it will assume that that particular weekend is to be included in the calculation. Otherwise, weekends are ignored.
If you open a Project you can see these costs in the Margins report – as well as in the Project Ribbon (type E is the best for showing costs).
You can also see these values in the Gekko Reports application – or any other report that makes use of the Gekko table.
You can also see a breakdown of each cost on a Project by looking at the Cross Site report.