All employees have a 'charge rate' applied to them. These charge rates are then used to calculate the billable amount for a client. The system has a standard charge rate, however an employee can have multiple charge rates. The actual dollar amount attached to these charge rates is defined on an employee by employee basis. The Charge Rate Types are defined and maintained by your system administrator.
This is based on the time entered against them by an employee, multiplied by the chargeable rate of that employee (time x charge rate = billable WIP).
Note: you also can use special rates to allocate non standard rates to specific assignments. This is done through the Rates tab in the Assignment page.
An employee's charge rates can be changed at any time. However, editing a rate in this tab will not update any timesheet entries that have already been created and are awaiting posting.
How to add a new charge rate:
- Open the relevant Employee page and click the Charge Rates tab.
- Click in the Start Date column of the entry line at the top of the Charge Rates area to access the drop-down list, then click the list box to select the date this charge rate will apply from.
- If you want to change the Charge Rate Type you are defining the rate for, click in the column then on the drop-down list. Select the required type from those available.
- Click in the Hourly Rate column and type in the employee's monetary amount to be charged per hour for the selected charge rate.
- If you want to make a note about the changes you have made, type it into the Charge Rates Notes area to record any additional information about the employee's charge rates. The usual notes formatting options are available.
- Click OK to close the Employee Details page.
How to edit a charge rate:
If you want to change the hourly rate for the employee for a charge rate, it is recommended that you enter an End Date for the old rate, then follow the instructions above for adding the new hourly rate. This allows for a record of previous rates for the employee.
You can only have one open instance of each charge rate type at a time (that is, only one standard rate or premium rate per employee), so a warning message will appear if you try to add the same Charge Rate Type twice.