Entering Personnel or Regular Labor

Regular personnel (Regular labor) employees are members of your team whose salaries are part of your overhead expenses. For more details.

Adding Regular Labor:

1

In your financial forecasting tool, Navigate to the  Personnel tab and click on Add Personnel Group option:

TIP: Moving finance items from one group to another is hassle-free. For a detailed walkthrough, check out our help guide here.

2

In the overlay that appears, Enter the  Personnel Group title and click on Save & Next:

3

Add a Personnel into a group: Under a Personnel Group created Click on Add Personnel option:

4

Enter a name for the hire (or group of hires) or just a short description, If you prefer:

5

In the overlay that appears, select whether you're adding an individual employee or a group of employees:

If you chose an Individual option: 

If you chose Group of employees, enter the number of full-time equivalents (FTEs) you'll be hiring:

6

Choose whether you will pay them the same amount each period or a varying amount:

• If you chose Constant amount, enter the amount you'll pay them either Per Month or Per Year:

  

  NOTE: Enter the salary you expect to pay for a single full-time individual in this group. The system will multiply this amount by the total number of staff in the group.

  And, indicate whether you want to include annual or monthly raises (and if so, what percent):

  

• If you chose Varying amounts over time, enter the salary you expect to pay for a single full-time individual in the sheet. If you are adding a group of employees, we will multiply that single salary by the total number of staff in the group:

  

7

Indicate whether these are on-staff or contract employees and Enter the percentage of tax & benefits: 

NOTE: The percentage of tax & benefits (burden rate) only applies to on-staff employees; not to contract workers.

8

Keep the change to direct cost switch turned off, 

9

Time Duration: Then indicate when the employee(s) will start/join and terminate his job and Then click on Save. 

By following these instructions, you're now equipped to correctly categorize Personnel expenses in your financial planning.

Where does this entry appear in the financial statements?

In the financial statements, entries related to personnel expenses, are shown in the Profit & Loss report and Cash flow report.

Personnel Expenses entries appear in the Payroll Expenses under the Balance sheet. In the Cash Flow statement, these entries are highlighted under the Salary & Wages section and the Cash-out section.