startAverage Hourly Rate
How To

Average Hourly Rate

CCH iFirm Time and Fees
Last update: Reading time 1 minutes
WIP

    Security role required: Firm - View WIP and Profitability Information

    Average Hourly Rate widget

    This widget displays the average hourly rate for your firm, which will help you to see if your firm is performing efficiently. It will show the average hourly rate for your firm for each month of the year.

    Each month, Jobs & Billing looks at what jobs have WIP items for the month and if they have a net amount of £0.00. Those jobs are then included in the calculation for the monthly average hourly rate.

    CCH_iFirm_Practice_Management_Average_Hourly_Rate_1.png

    The monthly average hourly rate is equal to the total amount invoiced for jobs with net WIP of £0.00 divided by the total hours worked on those jobs.

    Click View Client Report at the top left of the widget to open the Client Profitability Report and see what information has made up the monthly rate. The report will load with the filters and dates pre-selected based on widget settings.

    Click the settings (cog) icon

    icon_cog.png

    to change the:

    • Title - the text that appears in the widget header.
    • Contact Partner - options include None, All and the partner options that have been assigned in Contacts.
    • Contact Manager - options include None, All and the manager options that have been assigned in Contacts.
    CCH_iFirm_Practice_Management_Average_Hourly_Rate_2.png

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