These are the rates at which clients are charged for work. Charge rates are applied to employee categories, so the actual cost for an employee’s time to the client is automatically calculated from the amounts entered for each rate for the specific employee (therefore, time x employee's charge rate = billable WIP). The system contains a 'Standard' charge rate (this is the default setting), however you may have multiple rates available, such as discount rates or premium rates. When time is entered you select either the standard rate or another available rate. You can also use special rates to allocate non–standard rates to specific assignments.
The available charge rates for an employee are available for selection when time is being entered.