How actual cost is calculated

Logged time, dated daily rates, removed members, time without a rate: where each euro of the actual cost comes from, and how to correct a rate.

#The formula

Each time entry is valued at the daily rate in force on the work date of the person who logged it, based on an 8-hour day:

The project's actual cost is the sum of all its entries. Nothing else needs to be entered.

#What changing a daily rate does, and does not do

• A new rate applies from today. Time already logged keeps the rate of its date: the past does not move.
• A backdated entry (time logged today for work done last week) takes the rate in force on the work date, not on the logging date.
• A person's first daily rate also values their past time that had no rate yet.
• Removing a member from the team does not erase their cost: their time stays valued at its rate.

#Correct a past rate

If a rate has been wrong since a given date (an entry error, a backdated pay rise):

1. Open Team, then the member's profile: their rate history is shown there.
2. Click Correct a rate, choose the rate and the date from which it applies.
3. A preview shows the costs that will change before you save.

The corrected rate applies to time dated on that day or later, up to the next rate in the history. Only the project owner and admins can correct a rate.

#Sprint cost and total cost

Time logged on a ticket outside any sprint counts in the project's total cost, but not in the sprints' cost. See How Manifst calculates the budget.