What
View a forecast of what a Candidate is expected to be paid and what a client is expected to be charged during a selected period, which can then be compared to the Candidate’s submitted timesheet(s).
NOTE: The instructions in this article can only be carried out from the Admin area of Mercury.
Where
Home > Select area > Admin > Timesheets
Timesheet record > Forecast & Actuals tab
Forecasts
Forecast values are automatically populated as soon as timesheets are created.
Forecast Pay, Charge & Margin calculations are worked out based on the frequency of the Placement and the number of Timesheet days.
The Pay & Charge values are taken from Standard Rate Type from the Placement record > Basic Info tab.
NOTE: Additional rates, overtime, public holidays, etc. are not taken into consideration.
| -Frequency | -Forecast Pay | -Forecast Charge | -Forecast Margin |
|---|---|---|---|
| -Hourly | -Pay × Hours Per Day × Timesheet Days | -Charge × Hours Per Day × Timesheet Days | -Margin Value x Hours Per Day x Timesheet Days |
| -Daily | -Pay × Timesheet Days | -Charge × Timesheet Days | -Margin Value x Timesheet Days |
| -Weekly | -(Pay ÷ Days Per Week) × Timesheet Days | -(Charge ÷ Days Per Week) × Timesheet Days | -(Margin Value ÷ Days Per Week) x Timesheet Days |
| -Monthly | -(Pay ÷ 4.33 ÷ Days Per Week) × Timesheet Days | -(Charge ÷ 4.33 ÷ Days Per Week) × Timesheet Days | -(Margin Value ÷ 4.33 ÷ Days Per Week) x Timesheet Days |
Actuals
Actual values are updated only once a timesheet has been submitted by the Candidate, and approved and/or validated. If the Candidate submits time for any additional rates, these are included.
The actual values are taken from the Financial Transactions tab of the Timesheet record.
Actual Pay: Sum of Pay (Net) from all associated Financial Transactions.
Actual Charge: Sum of Charge (Net) from all associated Financial Transactions.
Actual Margin: Actual Charge minus Actual Pay.
Charts
View forecast verses actual values by Month in a chart for all timesheets. Add the Month no. column to filter by individual months (as shown below).
In the Recruit area of Mercury, view the timesheets chart for a Placement.
Placement record > Related > Timesheets tab
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