Cost Reports in Workforce.com help you to report on wage costs and total hours worked.
Cost Reports are visible to managers under Reports > Cost Reports:
How it works
Select your report: Each report is based on the same data and contains the same filters - the difference between each cost report is how the data is aggregated.
Select whether you want to include on-costs
Select how you want to compare costs by either:
Comparing timesheet costs to schedule costs, or;
Comparing timesheet costs between two different date ranges
Select any relevant filters. The table below provides a summary of each filter
Filters by employees whose qualification status is 'current' for the selected qualification
Filters by the location associated to the 'default payroll team' located on the employee profile
Filters by 'default payroll team' located on the employee profile
Filters by the earnings tags contained on the employee profile
Filters by permission level. E.g. 'Employee' or 'Admin'
Filters by the earnings template selected on the employee profile
Filters by the team selected on the timesheet to identify the locations of each shift
Filters by the team selected on the timesheet
FAQs and Troubleshooting
How do you edit on-costs percentages?
To edit on-costs, navigate to the Real Wage Cost Report and click the on-cost percentage as shown below to edit the value.
Enter your on-cost percentage as a decimal value, for example, enter 10% as 0.1
Updating on-costs in your Real Wage Cost Report will update the on-cost values in all other reports.
Note: the on-cost percentages for reports shown above are separate from the on-cost percentages for schedule costs. The on-costs for the schedule can be edited in Settings > All Settings > On-cost Config.
How does the real wage cost report work?
The Real Wage Cost Report includes and displays the breakdown of on-costs such as Superannuation, Workcover and Leave Accrual. As Workforce.com won't know your true on-costs, this figure is only an estimate for the purpose of reporting. You can enter a percentage of on-cost that represents a best estimate of the true costs of employment.
The real wage cost adds the percentage cost of Superannuation and Workcover onto your base timesheet and rota costs. If you have set the 'Leave Accrual Percentage' to higher than 0, then it will use this as an estimate for leave costs, instead of the leave taken cost. If your leave accrual rate is 0, it will simply use the leave taken cost.
Timesheet Cost (with oncosts) = Timesheet Base Cost (worked hours & leave cost) + Superannuation + Workcover + Leave Accrual - Leave Taken
Roster Cost (with oncosts) = Rota Base Cost (Worked hours) + Superannuation + Workcover + Leave Accrual
This means that from the base timesheet cost, it adds the cost of leave accrual hours as hours are worked (reflecting that there is a future leave liability increasing) and subtracts the cost of leave taken.
*When including a leave accrual rate within your on-costs, your reports will no longer reflect the costs as expected on payslips within the period being checked. It will show your leave costs as they are accrued (when employees work) rather than showing how and when you finally incur in those costs (when employees go on leave). To have your real wage cost reflect numbers as expected when running payroll, do not include a leave accrual rate among your on-costs.
Why does Workforce.com use the default cost of leave of 19% in the on-costs?
Workforce.com's default cost of leave is a rounded estimate based on the below assumptions:
260 week days in the year, minus entitled paid days off which include:
20 days of paid annual leave
10 days of paid personal leave
11-13 public holidays that fall on working days
This leaves around 218 productive days per year. There is therefore around a 19% additional cost of employment in non productive time per permanent employee.
depending on the number of public holidays in your state and how much personal leave is used in the year.
Note: editing the cost of leave on-cost percentage won't impact your actual leave accrual settings in your Workforce.com account.