Cost Tracking

Cost tracking lets you record your cost of living over time. TeeckIn can then show not just what you earn but what is left once your costs are covered. This is essential for freelancers and agencies who need to understand true profitability.

Your hourly rate isn't your profit. If you charge $100/hour but your costs (rent, software, taxes, etc.) work out to $40/hour, your actual profit is $60/hour.

Cost tracking helps you:

• See true profitability per client or project
• Make informed decisions about which work to take
• Set rates that actually cover your costs
• Track how costs change over time

1. 1
   Open Settings → Invoicing and open the Business profile section
2. 2
   Scroll to the Cost of Living section
3. 3
   Click Add Entry
4. 4
   Enter your cost amount (e.g., 3000)
5. 5
   Select the period: Weekly, Monthly, or Yearly
6. 6
   Set the Effective From date
7. 7
   Click Add

To figure out your hourly cost, add up your monthly expenses:

Enter this total as your monthly cost. TeeckIn turns it into a daily amount for you.

Your costs change over time. When rent goes up or you add new tools, add a new cost entry with the new effective date. TeeckIn uses the correct cost for each time period when calculating profitability.

Click View History in the Cost of Living section to see and manage past cost entries.

In a team billing entity, admins can track costs per team member:

1. 1
   Open Settings → Team & access
2. 2
   Select Members
3. 3
   Click the cost button (dollar icon) next to the member
4. 4
   Add a cost entry: Amount, period and effective date

This lets you see true profitability per team member, accounting for different salary levels and overhead costs. On a team billing entity, the Profitability card on the Dashboard adds up every current member's cost.

Once cost tracking is set up, you'll see profitability data in:

• Dashboard - your cost of living for the period and Net earnings (tracked value minus cost) alongside earnings
• Invoice detail (Pro) - tracked effort and cost vs. invoiced (excluding VAT), minus the expenses you linked to that invoice (counted as entered), with a margin that uses your real cost of living when recorded (flagging missions that ran over budget)
• Category breakdown (Pro) - the dashboard's category chart can show Cost and Net earnings per category (cost of living is allocated by each category's share of tracked time)
• Net earnings by member (Pro, team billing entities) - a dashboard table of each member's revenue, their own recorded cost, and resulting net earnings
• Profitability (every plan) - on the Dashboard: income excluding VAT minus expense transactions (counted as entered) and cost of living for the period (on a team, every member's cost) = profit