Calculating costs allows you to turn recorded time entries into expense records automatically.
This process uses the rates you’ve configured for roles or tasks and applies them to completed time entries over a selected period.
Before calculating costs
Before running cost calculation, make sure:
Time entries have a clock in and clock out time
Time entries are completed
A task is assigned to each time entry
Rates are configured for the relevant roles or tasks
Only completed time entries are included in cost calculation.
Running cost calculation
To calculate costs:
Go to the Expenses Overview
Click Calculate costs
Select a date range
Choose whether to overwrite existing costs, if needed
Start the calculation
Millenium Connect processes the time entries in the selected period and generates cost entries automatically.
How costs are calculated
For each time entry, the system:
Determines the applicable rate
Calculates the cost based on duration
Creates an expense entry linked to the listing and task
If no matching rate is found, the cost is calculated as zero.
After calculation
Once costs are calculated:
Cost entries appear in the expenses list
They can be reviewed, edited, or marked as paid
They are included in cost reports
You can rerun the calculation if rates change, using the overwrite option.