Employee rates are used when a more specific project or assignment rate is not available.
Employee specific billing and cost rates allow you to create default billing and cost rate information for each employee. What this means is: when an employee charges time to a project (or time off), if no billing / cost information is available for that project (or time off) the employee's default billing and cost rate information (if provided) will be used. See How rates are applied for more information on how billing and cost rates are calculated.
Options and field descriptions #
Effective Date – Indicates the date that the cost and billing rate will take effect. This option allows you to specify a change in an employee's billing and cost rates in the future, prior to when they actually take effect.
Tip: If your company / organization gives your employees annual raises, use of the 'Effective Date' option allows you to specify the date the raise will take effect. This is useful when adjusting pay rates for multiple employees that you want to take effect, for example, on January 1st.
Cost Rate – Provide the cost rate (per hour) that will take effect on the effective date.
Billing Rate – Provide the billing rate (per hour) that will take effect on the effective date.
Client – This drop-down contains a list of active clients in the system. You may Optional: select a client to specify that the supplied cost and billing rate information should only apply when the selected employee charges time to projects belonging to the client selected in this drop-down.
Tip: See How rates are applied for a detailed understanding of how the system uses the employee's default cost & billing rates entered on this screen.
Note: If the system is unable to find default rate information for an employee, 0 is used for both items. See How rates are applied for more information on how billing and cost rates are calculated when a billing and/or cost rate cannot be found.
Configuring Default Cost & Billing Rates for an Employee #
- Browse to Admin, select Employees, and then select Employees.
- Select an employee from the list.
- Select Cost & Billing Rates and select an existing effective date or select the New Rate button to create a new rate change.
- Specify the effective date for the rate change.
- Provide the cost rate and billing rate in the two spaces provided.
- Optional: Select a client if you wish to make this rate specific to a client.
- Select Save.