Help for MyCorbu Architectural Bookkeeping
MyCorbu uses three hourly rates to transform your timekeeping data into useful information. The Billing Overhead Factor [BOF] is part of that process.
Read more about how the three Rates are used here.
The BOF is used to transform the Labor Rate into the Charge Rate and the Billing Rate.
The BOF is based on this formula which creates the Factor (multiplier) to include overhead expenses and profit.
COST OF BILLABLE TIME x FACTOR = TOTAL EXPENSES + PROFIT
The same formula can be used to find the Overhead Factor [OF] by eliminating “+ PROFIT”.
MyCorbu calculates your Factors, both OF and BOF, for you on the Staff Details page. The Staff Details page is found by starting on the Admin page, scroll to the Staff section, then click the menu button titled “Staff Details and Billing Overhead Factor Calculations”.
Comparing the Charge Rate and the Billing Rate that you get by using these Factors calculated for you is very useful feedback.
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