What is the conversion factor and what can I use this for?
You can use the conversion factor to define how a time unit that is not a default unit ("Settings - Master data - Default unit for importing time/service data") is converted when projects are created from offers.
Consult the report "Create a project from an offer" for information on how to create projects from offers.
You offer your client order work for a project. To make the offer easier to understand, select the unit "D" (days) instead of "h" (hours).
The offers contains a position for the design of a new webshop, which is expected to take 3 days/work days. An average work day is 8 hours and 30 minutes; instead of 25.5 h you therefore enter 3 D.
To save you from having to convert the days back to hours manually in the project later on, you can specify a conversion factor for the unit "T" under "Settings - Units". You can edit the unit by left-clicking it. Before you can set a conversion factor you need to designate the unit as a time unit by checking the box "Time unit".
The conversion is always performed using the default unit (which is "h" by default) and can generally be performed as follows: How many units of the default unit are contained in the unit? In this example, one day/work day consists of 8 hours and 30 minutes, thus the conversion factor for one day is 8.5 (only decimals are possible).
Conversion to a project
If the position "Design of new webshop" with 3 days is converted into a project, for the the work package "Design of new webshop" this gives you an estimated time requirement of 25 hours and 30 minutes, which is equivalent to 3 x 8 hours and 30 minutes (1 day).