Every project-based firm has a ratio of billable to non-billable hours that sets the threshold for profitability. See how to establish yours here.
MyCorbu calculates what is actually happening for you. The individual can see their ratio on their Timesheet page. The overall firm’s ratio is accessed from the All Time page. And Admins can access each staff member’s ratio. Go to Admin page > Staff Details button > ‘detail’ link in table.
Over time as you use MyCorbu, the number of Projects, Project-Phases, and even Staff can become unwieldy. To change what you see in drop-down lists and in tables, you can make any of those items INACTIVE. The data is not lost, but it is no longer visible. Most views of your data are set to display only ACTIVE information.
To toggle Projects to Inactive, go to the Projects page, click the 'Projects Table’ button, and click ‘Yes’ in the ‘Active’ column. Then uncheck the checkbox to change to Inactive.
To toggle Projects-Phases to Inactive, go to the Projects page, scroll to the desired Project-Phase, and click ‘Yes’ in the ‘Active’ column. Then select the ’No’ radio button to change to Inactive.
To make Staff Inactive, go to the Admin page, scroll to the table of Staff Members, and click ‘Edit’ in the ‘Edit’ column. On the form, change the ‘User Status’ to ‘Inactive’ and Submit.
The date of an invoice is only useful as a point of reference. Usually the date assigned is the date it was prepared or sent.
I think it is more helpful to your bookkeeping to date invoices with the last day of the period that it covers. That approach puts your time expense and the associated income in the same timeframe.
The date is now meaningful and it may spur your client to make payment just a little sooner.
Tracking your Project Fees is now possible with MyCorbu. The easiest way to see how it works is to visit the 'Test Drive' account. The Fees feature is found by clicking the FEES button found near the top of the Bookkeeping page.
While working on Invoicing for MyCorbu, I stumbled upon a really handy invoice numbering system.
Here is a link to a description.
Recently Knack, the platform on which MyCorbu is built, experienced problems with response times. Hopefully this has been permanently corrected.
If you ever experience problems with the way MyCorbu is responding, I suggest that you visit https://status.knack.com/
This will tell you if the platform has an issue.
If not there are two ways to help your computer respond better.
1) Clear your browser cache. Here is how:
2) Delete your browser cache, history and cookies. Here is how:
However if you see unexpected results in the app, then contact me. Rick Wolnitzek
Until recently the recommended way to track PTO in MyCorbu was useful but complicated. The new process involves just one Project-Phase and setting PTO Allowances annually.
Read about PTO Tracking here.
Custom Project Billing Rates can be set for every Project. Custom Rates can be changed, but require attention to ‘Resetting/Freezing’ to make the change complete.
Learn all about it here and in the Reference Guides.
Now you can assign target Billable Ratios and view each staff member's Billable Ratio for six timeframes.
If you use the powerful Billable Ratio tools built into MyCorbu, tracking an individual's Billable Ratio is simple. Check out the new tools by going to the Admin Page > Staff Details button, which brings up a table of staff members.
Learn more at:
DETERMINING YOUR RENEWAL DATE
If you have paid subscription, you have a Renewal Date.
Keeping you informed of your Renewal Date takes three forms.
Blog Post About Fees Feature
In case you missed it. I posted an article about the Fee Types that initially will be incorporated into MyCorbu. Click the graphic for the link, or click below.
Project-Phase Order & Main Menu
When you create a Project-Phase or edit one, you will find that there is a Sort By field available so that you can control the order in which your Project-Phases appear in tables. I suggest using the AIA numbering system for standard phases.
The 'Blog' and 'HELP' menu items have been moved to a drop down list under 'OTHER'.
Test Drive BOOKS
I have just added a 'Test Drive' account. Anyone can login and add data to see what BOOKS is like. To access the Test Drive account just login using these credentials:
email address = firstname.lastname@example.org
password = MyCorbu
The BOOKS page of the website now has 'Test Drive BOOKS' buttons
so you can always find this information.
Add A File To A Transaction
When Bookkeeping launches in the next week or so there will be a feature that hasn't been mentioned before now - FILES. You may add a file to your expense or income transactions by simply uploading it. This will allow you to keep your bills and invoices right with your transactions for easy reference.
Determining Proj. Fin. Status
MyCorbu's Bookkeeping feature allows you to determine the financial status of your projects with just a couple of clicks. A new blog post describes where the results can be found in the upgraded version.
The new Transactions feature, which I have been calling 'BOOKS', is going to work well with everything that has been released so far. For instance, when you enter mileage, now it will add transactions to your BOOKS automatically. This Workflow description gives you a good overview of how BOOKS will work.
Improved Labor and Charge Rates
Behind the scenes, the Labor Rate and the Charge Rate can now accommodate change without affecting records that have already been entered. Access to these rates is by way of the renamed menu on the Admin Page, "Managing Rates and Reimbursements" (was "Auxiliary Data").
A 'History' field has also been added to this table so that it is convenient to document when Labor Rates change. This field can become a kind of personnel record.
Staff can no longer be deleted because of the damage to your historical time records that this would do. Make their User Status 'Inactive' instead. Use the new filter menu to remove them from the table view.
HELP with Reimb. Exp.
The Reimbursable Expenses HELP article stresses the need to SETUP Reimb Exp properly, and introduces two new tables to assist with Reimbursable Expense tasks. Managing reimbursement of staff and managing invoicing for Reimb Exp are each aided by their own table to simplify the task.
Table Added To Aid Payroll Prep
A new table has been added to aid with preparation of payroll.
See Projects Page, Design Time Cost menu, button labeled "$ Payroll Prep".
The table is grouped by staff member and shows totals for hours and for labor cost. Set two filters to isolate the timeframe of the payroll period.
Using The Mileage Feature
The Mileage feature that is part of the TIME upgrade has a HELP article explaining how it works.
Remember to set up your mileage rates before adding mileage entries.
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