Figure Your Real Profit Margins with Custom Columns

Real Profit Margins with Custom Columns

Sometimes, Web TimeSheet’s standard report/export fields don’t account for the exact information you need for viewing profitability. At Replicon, we took care to include fields that are standard across most industries. However, only you can define formulas that are specific to the way you do business. For example, the calculation you use to determine your gross profit margin might be different than the calculation used at another company.

In Web TimeSheet reports, you make your own rules. With the Custom Columns feature, you can define a field that includes the formula of your choice. These are fairly simple to create and there is a help section to walk you through it. You can use numeric, text, and date operators and functions to see exactly what’s going on with any aspect of your projects.

customcolumns

Once you create a formula, you can make it part of any of your predefined Web TimeSheet reports. The calculation can be integrated so that it is performed automatically – you don’t have to add the custom column again every time you run that particular report. On the other hand, you don’t have to apply the customized field to every version of a report if you just need to use the function for a one-time look at some project details.

The Custom Column feature is available in Web TimeSheet version 8.7 and higher. Are you currently using an older version of Web TimeSheet software that is installed on your local server? Consider switching to our Software-as-a-Service (SaaS) version so we can always ensure that you are being given the latest upgrades. All maintenance and updates are provided free of charge as part of our Software as a Service model. Give our SaaS version a try with a free trial.

What formulas are you planning to use with our Custom Columns feature? Let us know in the comments. Stay up to date with the latest developments by following our Twitter feed and keep connected with us on LinkedIn.

 

Scott Bales
ABOUT THE AUTHOR
Scott Bales
Scott is the Senior Director of Customer Success at Replicon. Replicon provides award-winning products that make it easy to manage your workforce. With complete solution sets for client billing, project costing, and time and attendance management, Replicon enables the capture, administration, and optimization of your most underutilized and important asset: time.
Get started today.
Set up a free trial based on your business needs. Start Free Trial

Make Time and Attendance Part Of Your Digital Transformation

TLNT | October 10, 2019 By Raj Narayanaswamy, Co-founder and co-CEO at Replicon Many businesses embarking on a payroll and HR transformation journey can easily get caught up in the…Read More

Global Compliance Desk – Australia

Recent Federal Court Decision: Accrual of Personal/Carer’s Leave Most employers in Australia follow the practice of calculating personal/carer's leave entitlements in hours. On 21 August 2019, the Federal Court of…Read More

Project management, all grown up

accountingToday | September 17, 2019 By Scott Bales Vice president, Enterprise Solution Engineering and Delivery, Replicon One might assume they already know everything a project manager in a professional services…Read More

Using shared services? These five technologies are a must

As organizations continue to scrutinize operating costs and look for areas to drive efficiencies, shared services centers (SSCs) are a no-brainer. The concept of a multi-function SSC has been around…Read More

Miscalculating wages by a few cents led to this company paying a six-figure lawsuit

West Marine Products, which operates a chain of retail stores across the United States specializing in boating supply and fishing equipment, recently settled a class action lawsuit involving 707 former…Read More

Employee time tracking is dead

iBeacons, Bluetooth Low Energy, Proximity sensing and the obsolescence of time tracking as we know it. Businesses have to track the time their employees work for a variety of reasons,…Read More
  • Cloud
  • In The News
  • Corporate
  • Professional Services Management
  • Project and Program Management
  • Shared Services Management
  • Time and Attendance Management
  • Workforce Management
  • Customer Feature
  • Feature Update
  • Time Intelligence
  • Industry News
  • Webinar Recap
  • Global Compliance Updates
  • Chat with us
    How can we help you?