Your Parakeeto Reporting System (available only in the Optimize Phase with Parakeeto) is a series of tools, guides, inputs and outputs (outputs being the reports themselves).
In this article, we’ll go through the four inputs that the Parakeeto reporting system needs to get to the outputs of your reports. They are:
Time Tracking Data: These are the time tracking entries that are exported out of your time tracking tool and uploaded into your reporting system. This process is done by Parakeeto, so as long as your team is tracking time using our agreed upon SOP (Standard Operating Procedure) then you’re doing all that is expected of you.
Payroll Grid: This is a living spreadsheet that stores information about your team and their respective roles. It should capture all of your employees, including those that do not perform work directly on client projects. It includes information about each employee, such as name, role, compensation, start dates, termination dates (if applicable), department/team allocation, delivery hours target, work days per week, work hours per week, paid time off, and standard rate. More information on the Payroll Grid can be found here.
Project Grid: This is a living spreadsheet the focuses on past, present and future projects along with their planned (estimated) hours for each of your agency’s unique Task Categories. More information can be found about the Project Grid here.
Fixed Expenses Grid: This is a living spreadsheet where you are able to outline any fixed expenses (outside of expenses reflected in the payroll grid) that you will be incurring over a set period of time. This informs your reporting system with information on expenses so that you can forecast appropriately, in particular get an idea of where your breakeven point will be by comparing your AGI to your total expenses in a given period of time. More information on your Fixed Expenses Grid can be found here.
These four inputs can and should be updated on a continual basis to ensure your reporting system is accurate and up-to date as things change in your agency..
**ℹ️** If you have any other questions on the topic, please don’t hesitate to reach out to your Parakeeto Account Manager so they’re able to give you the clarity you need!