Introduction
Teramind allows organizations to monitor workforce efficiency and seamlessly track financial metrics like labor costs and resources allocations. By associating compensation rates with tracked hours, administrators can generate detailed financial audits alongside standard productivity metrics.
This article outlines how to configure individual user wage settings and look up total cost reports using the Time Tracking cost reports, the built-in Productivity dashboard or custom dashboard widgets.
Step 1: Configure the Wage/Salary
Before tracking financial distributions, you must define the monetary value of an employee's time within their account setup.
Navigate to the Employees screen from the main menu.
Locate the target employee in the grid and click on their name to access their Employee Details page.
Click the Edit button at the top-right to slide open the Edit Profile panel.
Under the Personal tab, locate the Rate field. Enter the employee's designated compensation value (e.g., "50") and select per hour or per year.
Click the Apply Changes button to save the profile.
Repeat the above process to set up wages/salaries for each employee or contractors.
Note: If you enter a yearly rate, Teramind converts it to an hourly rate based on 2,000 working hours per year (40 hours per week for 50 weeks). The rate is saved with each time record as the time is tracked, so a rate change applies to newly tracked time only.
Step 2: View the Wages Report
Method 1: Use the Time Tracking Cost Reports
The Time Tracking menu includes two dedicated cost reports that calculate labor costs automatically from your employees' tracked time and saved rates, with no setup required:
Employee Cost: Shows the total time, rate and cost (Amount) for each employee.
Task Cost: Shows the total time, rate and cost for each task, which is useful for tracking labor costs across projects, clients or billable work.
From the main menu, go to Time Tracking and select Employee Cost or Task Cost.
Use the date range picker to select the pay period, for example, "Oct 16 - Oct 22". You can also use the Employees and Tasks drop-downs to narrow down the report.
Review the Time, Rate and Amount columns. Click a column header to sort the report, or use the Grid icon at the top-right to show or hide columns.
Note: The cost is calculated from the wage stored on each time record when the time was tracked. If an employee's rate changes during the selected period, the Rate column shows the average of the wages across their records, and past costs are not affected by the new rate. Non-admin users need the View Employee cost report or View Task cost report permission (under Configurations > Access Control) to see these reports.
Method 2: Use the Built-in Productivity Dashboard
You can also view wages alongside other productivity metrics on the built-in Productivity dashboard.
Open the Dashboards menu and select the Productivity dashboard.
Select the Time Worked tab and scroll down to the Work Time Breakdown grid, which provides a breakdown of work time for individual employees.
Click the Columns icon at the top-right of the grid to open the column panel.
Type "Wage" in the search field and select Sum (or Min, Max or Avg) under Wage to add the wage column to the grid.
Method 3: Create Your Own Custom Dashboard
If you prefer a tailored wages report with your own specific data points and columns, such as tracking wage allocations across different projects and tasks, or if you want to create visual charts to compare labor budgets between departments, Teramind gives you the flexibility to build your own custom dashboards.
Access the Dashboards > All Dashboards catalog screen.
Click the New custom dashboard button at the top-right.
Enter a distinctive name (e.g., "Contractor Payroll") and an optional description, then press Create.
Now you are ready to add a wage widget to your dashboard.
Add a Wage Widget
This method allows you to build a standard grid or chart widget completely from scratch, giving you granular control to select the exact tracking fields and layout formats that fit your accounting requirements.
Click the New widget button at the top-right. If your dashboard already has widgets, click Customize dashboard first.
Click the Setup button next to the Create Custom Widget template.
Give the widget an easily identifiable title in the Widget name field (e.g., "Wages by Employee").
From the Data Sources list, remove the default data source and select Work time. You can select additional data sources if needed.
From the Chart Type drop-down menu, select your desired layout format, such as Bar, Column, Grid, etc.
If you've selected a chart (e.g., Bar), select a metric such as Employee from the Dimension #1 field, and optionally, the Dimension #2 field. Then, select Wage (or Min wage, Max wage or Avg wage) from the Measures field. A Widget preview appears at the bottom of the panel.
If you've selected the Grid chart type, select Work time under Graphs. After saving the widget, use the Choose Columns option in the grid's column menu to add the Wage column.
Click the Save button to add the widget to your dashboard.
Exporting Wage Data for Payroll Processing
When your billing cycle closes, you can export the tracked records and pass them to external accounting systems or your financial team. You can export the data directly from a Task Cost, Employee Cost, Productivity or your custom dashboards:
Click the Export button at the top-right corner.
Select Export CSV or Export PDF to download the report, or select Schedule Export to have the report generated and sent automatically on a recurring schedule.