Agreement Profit Reporting Comparison to CW Manage Financial Dashboard

Eamon Magan
Eamon Magan

This article covers off the differences in agreement profit reporting between Cognition360 and the ConnectWise Manage  (CWM) Financial Dashboard.

In summary the main differences relate to labor hours reported. Cognition360 reports on actual hours recorded on the agreement and applied or covered by the agreement. Using the actual hours recorded on the time entries allows the report to show the true labor recorded on the agreement. 

The CWM financial dashboard reports uses rounded labor hours. Rounded labor hours are the hours offset on the agreement when actual time is rounded up to the nearest 15 or 30 minutes. Rounded hours are used for billing to ensure invoiced time is charged as you require it to be. However, for the reporting of labor, using rounded time inflates the time spent managing the agreements. 

Labor costs are reported correctly based on actual labor hours on the CWM financial dashboard.

The two impacts of this difference to note are:

a) The CWM financial dashboard will overstate labor recorded for agreements. 

b) The Labor Analysis information on the CWM financial dashboard will be inaccurate. Effective Rate is calculated as MRR less addition costs divided by the labor hours recorded. As rounded hours will increase the labor hours. This will reduce the Effective Rate reported. Likewise, the Average Hourly Costs will be understated.