Once time is tracked in Double, the Reporting feature can be used to analyze how time is spent. Reporting is accessible via the Timers tab at the top of the home page.
Effective Hourly Rate
To calculate your effective hourly rate, make sure to set all client / employee rates in the settings tab at the top of the Timers page.
After completing this step, switch to the Client Reporting tab and filter the table by period to view the Effective Hourly Rate for each client.
Calculating Effective Hourly Rate
The effective hourly rate is calculated as:
Number of months worked on a client * monthly rate ÷ the hours worked in that time period |
So, for example, if you've worked for 20 hours over two months on a client that you charge $500/mo, your effective hourly rate will be $50.
(2 * 500) ÷ 20 = $50 |
Employee Reporting
Double can also be used to track employee hours across different time periods. To view this report, select Employee Reporting at the top of the Time Tracking tab.
To drill down further, click View Timers to see a list of individual time entries.
Time budgets & capacity planning
Monthly time budgets can be entered by client and employee to track budgeted versus actual hours worked.
To configure this, navigate to the Settings tab and enter monthly hour budgets by client. Switch to the Employees tab to enter monthly working hour budgets by employee.
Then, navigate to the Capacity Planning tab to run budget-versus-actual reports by client and employee, with the ability to drill down into workstreams and individual time entries.
Average hours are calculated based on the average of the monthly hours included in the report. For example, selecting April 2024 (one month) as the date range results in April hours equaling average hours. Selecting January 2024 through April 2024 (four months) results in the Average column reflecting the mean of those four months.