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Resource Costs specify an Hourly Rate for a Gemini User or Gemini Global Group that are applied to time logged in order to calculate the cost of the time logged.
Resource Costs are applied by Effective Date, meaning that time logged on a particular date will be calculated as a cost from the Resource Cost with the closest Effective Date before the time was logged.
** For resources with Monthly or Annual Costs we recommend costs are annualised, leave deducted and then reduced back to hourly in order to get the most accurate hourly rates for a resource.
For example: Developer Person is employed with a Monthly salary of $5000. He is granted 15 days annual leave, and there are 4 national holidays in the current year. This means that Developer Person has an annual salary of $5000 * 12 months = $60000. There are 242 days in which he would work (365 days – 15 leave days – 4 national holidays - 104 weekend days). Considering there are 7.5 hours per working day, Developer Person has an hourly cost of $33.06 / hour, which can then be applied as a Resource Cost for this developer.