Harvest Time II
January 29, 2015
Last week, we took a brief look at at Harvest, a service designed to help developers and project managers measure the financial health of each and every project they take on. Today, we’re going to dig into the nitty gritty to see just how helpful Harvest can be.
After filling out the signup form, the site directs you to to your account’s private space. I’ve created an account named “pazzigh”, so “https://pazzigh.harvestapp.com” is my unique url.
Let’s create a new project.
The Invoice Method field is probably the most crucial for properly tracking the financial health of a project.
- With the Task Hourly Rate option, the hourly rate for tasks determines the profitability of the project;
- With the Person Hourly Rate option, individual team members have their own hourly rate per hour spent;
- With the Project Hourly Rate, the project as a whole charges a rate based on every hour spent by any team member;
- And finally, to handle the use case where billing may not be relevant, the Do Not Apply Hourly Rate option can be applied.
The Tasks field allows a project to have different types of tasks to be created, specifying which are billable tasks and which the team will absorb (i.e. internal tasks).
Note that you can set a default for the billable flag for tasks, as well as the billable rate for team members and tasks, within the Manage section.
In this example, my account’s billable rate is defined as $100.00 per hour. If I were a contractor, I would also have a rate that is being charged and absorbed by the company, which would be defined in the cost rate field. This way, the profitability of the project will properly take into account the money lost to pay external entities to the company.
By going into the Manage section, default costs can be set. For the tasks I have defined, administrative billing will be $50.00 per hour, project management services will be $100.00 per hour and all development tasks will be at a $150.00 per hour rate.
See It In Action
Now that all the project information is set, the development team can begin tracking their time and project managers can gleefully see the hours and dollars begin to accumulate right on the project’s landing page.
Note: For example purposes, I’ve added several time entries in the past to simulate progress.
Here, we can see the billing breakdown at the task or team level, within a custom interval, if desired.
Stay tuned! Next week, we’ll be back with the second half of our dive into Harvest!
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