Cost tracking software
- Cost calculations
- Hourly
- Salary cost data
- Protected
- Project cost updates
- Live
Cost calculations
Salary cost data
Project cost updates
What this means
Cost tracking measures internal labor and overhead costs by multiplying employee cost rates by logged hours, showing the true cost of project delivery.
Operations managers, finance directors, and agency leads who must track project costs and monitor internal delivery expenses.
Calculating project costs by hand is slow and inaccurate
If you only track billing rates, you are blind to delivery costs. Rebuilding labor costs by hand at the end of the month is slow, prone to errors, and fails to show if senior salaries are eating project budgets.
Signs this is happening on your team
- Finance spends days multiplying hours by salary rates
- You do not know the cost of delivery for different roles
- Labor costs are calculated as a flat average across the team
- Project managers cannot see live labor cost consumption
- Underestimating labor costs leads to unprofitable bids
What this costs you
Disconnected cost tracking leads to pricing mistakes, inaccurate margins, and delayed financial reporting that blocks business decisions.
Automated labor cost tracking from timesheets
TimeTracker calculates labor costs as hours are logged. By assigning a cost rate to each team member, every timesheet entry calculates its cost, flowing into live project reports automatically.
From problem to outcome
- Problem
Manual labor cost calculations
FeatureRatesOutcomeAutomatic cost calculations from timesheets
- Problem
Delayed cost updates
FeatureTime TrackingOutcomeReal-time cost tracking on dashboards
- Problem
Inaccurate cost averages
FeatureReports and DashboardsOutcomeExact cost reports by role and person
How it works in TimeTracker
Assign secure hourly cost rates to employees
Track team hours against projects and tasks
Calculate labor costs automatically from logs
Review delivery costs on finance dashboards
Built for teams like these
Agencies
Tailored timesheets and billing tools designed specifically for Agencies workflows.
Explore→Accounting firms
Tailored timesheets and billing tools designed specifically for Accounting firms workflows.
Explore→Law firms
Tailored timesheets and billing tools designed specifically for Law firms workflows.
Explore→
Cost Tracking by industry
Popular features
Configure custom rates for every agreement
Manage complex billing agreements with ease. Set client rates, assign member role pricing, and handle multi-currency projects with zero confusion.
Explore Rates→Employee time tracking your team will actually use
One click starts a timer, or people type hours in by hand. Every entry ties to a client, project, and task, so the record stays clean.
Explore Time Tracking→See where the time really goes
Break hours down by client, project, and team member. Find the work that pays off and the projects that run over.
Explore Reports & Dashboards→Related free tools
Frequently asked questions
- What is an employee cost rate?
- An employee's hourly cost rate is their base hourly wage or salary, plus overhead allocations like insurance, software licenses, and office costs.
- Is cost rate data hidden from employees?
- Yes. All cost rate fields and calculations are protected and only visible to authorized administrators and financial managers.
- Can we track contractor costs?
- Yes. You can assign hourly cost rates to external contractors to track their costs alongside internal team costs.
- Does it support overhead allocations?
- Yes, you can add overhead markups to cost rates to ensure margins cover indirect operating expenses.
Track delivery costs
Know what your client work costs to deliver. Track labor costs in real time with TimeTracker.
Track labor costs