With this module -- only available on employee's page -- you can set a standard cost for the people working in your organization.
This is a standard cost, which means an average cost per hour you evaluate including: salaries, benefits,...
It is useful if you want later in a report extract the profitability out of the billing per clients, projects or staff.
Or to evaluate your overall working costs.
To set it up:
When you define a standard cost or update an existing one, the change will only be applied to hours recorded after the change.
However, the system will offer you to apply the change to existing records.
You can decide to apply the new cost to a date range of your choice or too all records made by that person.
An option to apply a new standard cost to existing records can also be found in the Approval module.
Just select the records you want to apply the new cost to and click the "Update rates & costs" button.