To track labor costs across projects, admins can set hourly cost rates for each team member in Tackle. These rates power project profitability analysis in the Budgets feature by calculating labor costs based on time logged.
Note: this view is only available to admins.
1. Navigate to the Members tab from the sidebar.
2. In the Cost rate column, click + Add rate to enter a new hourly cost rate for a team member.
3. In case of salary changes, you have an option to update your team members’ cost rates. To do this, simply click the current value, select the start date of the new rate and hit save.
4. You can track historical changes in cost rates. Tackle will preserve past rates, giving you a clear historical record of cost changes over time. This ensures accuracy when calculating labor costs in projects based on when the hours were worked.
Once cost rates are added, Tackle will automatically use them to calculate labor costs in your Budgets. Learn how to create your first budget in this guide.