Most contractors track their time in one place and their material receipts in another, only realizing at the end of the project that their "profit" was consumed by unrecorded hardware store runs and miscalculated labor hours. True financial control in the trades isn't about having a big bank account; it's about having a unified data source that links every hour of effort to every pound of material.

The Philosophy of Integrated Costing

The "WORK COST TRACKER" is built for the precision craftsman who understands that labor and materials are two halves of the same financial story. It moves you from "guessing the bill" to "calculating the reality." By documenting the Work done and the specific Goods used on the same record, you create an irrefutable audit trail that simplifies invoicing and eliminates disputes with clients.

The Anatomy of a Project Bill

The structure of this library is designed for rapid entry at the point of activity—whether that’s in the workshop or on the job site.

  • Labor Tracking: Fields for Hours and the specific Work done capture the intensity of the day's effort.
  • Material Inventory: The Goods description and Goods cost (in GBP) ensure that every component—from a box of screws to a custom-milled beam—is accounted for before the project moves to the next phase.
  • Rate Management: The Rate field allows you to adjust your pricing based on the complexity of the task or the specific contract terms.

Balancing Labor and Material

The ultimate value of this template is its ability to visualize the net balance of a job. Tracking Money paid alongside the total costs allows you to see your current exposure at a glance. It turns a collection of notes into a real-time ledger, ensuring that you are never "working for free" because you lost track of a deposit or a material reimbursement.

Power Feature: Automated Net Balance

The heart of this system is the Cost calculation field. By using the script ((#{hours}*#{rate})+ #{goods cost})-#{money paid}, Memento automatically provides the current outstanding balance for the entry. You don't need to perform mental math or open a calculator app; the system tells you exactly how much is owed the moment you enter your hours or material costs. It transforms a simple log into a high-speed accounting tool that keeps your cash flow visible and your business profitable.