Determining your billing rate

[YCC]

What systems are you currently using to determine what you must charge to ensure profitability? Here is an interesting chart of what a miscalculation of only $ .50 per hour can cost your company.

# of employees/ Actual dollar loss
1 $ 972.00
2 $ 1,944.00
3 $ 2,916.00
4 $ 3,888.00
5 $ 4,860.00
6 $ 5,832.00
7 $ 6,804.00
8 $ 7,776.00
9 $ 8,748.00
10 $ 9,720.00

This forum is devoted to issues of labor pricing

http://www.yourcostcenter.com

 

[electro]

We currently use an excel spreadsheet. What would be the benfit of your system?

Electro

 

[YCC]

Spreadsheets are a good place to start. There are so many variables in developing your rates. We have the benefit of an on staff accountant as well as years of programing to make sure all the elements are accounted for. As the chart showed $ .50 per hour can add up. Imagine over the 20 years or so that you will have your business what the cummulative effect could be.
I think it boils down to the concept of as a business owner I want to focus on the growth and efficiency of my business. To do that you need the best tools possible. Yourcostcenter.com is one of those tools.
Updated payroll tax codes, workers comp. insurance, available billable hours, and on and on. Our program addresses all of these in a simple to use easy to understand format.

Thanks
YCC