You can use the Financial section to create time codes,
charge codes, and rates. Time and charge codes are associated to projects
to categorize costs, work effort, and rates represent
the value of resources.
Creating time codes
Time codes are alphanumeric codes that you use to categorize
the work effort for each team member. Team members can select appropriate
time codes when submitting their timesheets so that team leaders can
run reports to evaluate the time spent on tasks.
Creating charge codes
Charge codes are predefined tags that you use to track
the revenue and expense of a project. You can use charge codes to
categorize the costs against project budgets, which is important for
organizing your project financials.
Creating rates
Rates estimate the value of the service that a resource
renders. In project management, you can use rates to calculate the
amount that management charges per day for resources.