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Utilization, collection rate, and what each actually measures.
UTILIZATION is billable hours over all hours logged. It only means something if you also log the non-billable work, which is why the non-billable figure is shown beside it.
COLLECTION RATE is cash received over amount billed. Draft and voided invoices are excluded from the denominator — neither was ever owed, and counting them would understate what you actually collect.
UNBILLED WORK is billable time that is not yet on an invoice. It is usually the most actionable number on the page.
Where there is nothing to divide by, the figure reads as a dash rather than 0%. No data is not zero utilization, and showing it as such would read as a bad month rather than an empty one.