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 and Charge values are taken from Standard Rate Type and Pay fields 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
END