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      Billable Rates

      What are Billable rates and how can they be setup?

      When time is entered in Accountability, the value of the time entry is captured using one of 3 different rates ie

      1. Billable Rate
      2. Indicative Cost Rate
      3. Direct Labour Cost Rate

      Various reports and on screen displays present the value of time entries using these rates.

      Billable Rates

      Billable Rates are the rates you charge your clients for the time you work on their business. They will reflect your rate card rates and are often referred to as Charge Out Rates.

      By default these are set on an Hourly basis, but can be set on Daily basis if you have elected to use Daily Rates as a database setting (Go to Setup Files/Setup Options/Timesheet Options and check box "Use Daily Billable Time rates.")

      Billable Rates can set at multiple levels ie;

      • Task Type 
      • Office
      • Client

       

      Task Type Rates

      Task Type Rates are the highest level of setting for Billable Rates. In absence of any lower level Billable Rate setting, this rate will apply to all time entries recorded against the specific task type, across all Offices, from the point it is created .

      If the database has Office/s, with different currencies from the default database currency, and does not have Office specific rates set, then time transactions in that Office will be recorded at the Task Type rate, translated at the default Exchange Rate set for that Office.

      How to set up a Task Type Rate?

      • Go to Master Files/Task Types and click on the relevant Task Type.
      • In the field BILLABLE RATE enter the rate.
      • Click Save and Close.

      Task Type Rates can also be imported or updated by using the Import/Update routine.

      • Go to Master Files/Task Types and click on the link "Excel".



      Office Rates

      If your database has an Office/s with a different currency from the default database currency,  you may wish to set up Office specific Task Type rates. NB these rates will be setup in the default Currency for that Office.

      Office Rates are the next level below Task Type rates and if set, will apply instead of the Task Type rates, for all relevant time transactions.

      How to set up Office Rates?

      1. Go to Master Files/Task Types and click on the link "Office Billable Rates".
      2. Click on ADD RATE.
      3. In the field TASK TYPE enter the Task Type that you wish to set the rate for.
      4. Check the box to the left of the Office Code you wish to set the rates for
      5. Click SAVE & CLOSE
      6. This will take you back to a screen displaying all the Office specific rates  in the database. The task type you have selected in Step 3 above will display with an Hourly Billable Rate of 0.  Enter the rate in the currency of the Office
      7. Click SAVE & CLOSE

      Office Rates can also be imported or updated by using the Import/Update routine.

      • Go to Master Files/Task Types and click on the link "Office Billable Rates".
      • In the next screen click on the link "Excel".

       

      Client Rates

      You can set a Billable Rate to apply for a specific Client, for all Task Types for that Client, or by any of the following variables, or combination thereof, ie;

      • Product
      • Job No
      • Job Type
      • Task Type
      • Employee
      • Title
      • Internal Charge Type

      How to set up Client Rates?

      1. Go to Master Files/Clients and click on the relevant Client Code.
      2. Click on the link "Billable Rates".
      3. This will display a screen showing all the Billable Rates set for this Client, which you can edit if required.
      4. Click on CREATE A NEW BILLABLE RATE.
      5. This will display a screen showing the Client, with fields for Product, Job No, Job Type, Task Type, Employee, Title, Internal Charge Type, Hourly Billable Rate and Currency Code.
      6. If you wish to set a rate to apply for all Task Types for the Client enter the rate in the field HOURLY BILLABLE RATE.
      7. If you wish to set a rate to apply for a specific Task Type for the Client, enter or select the specific Task Type in the field TASK TYPE and enter the rate in the field HOURLY BILLABLE RATE. NB this is most common setting for Client Rates.
      8. If you wish to set a rate to apply for any other criteria or combination thereof, for the Client, enter or select the specific criteria in the relevant field/s and enter the rate in the field HOURLY BILLABLE RATE.  NB when setting Client Billable rates  based on multiple criteria all the criteria must be fulfilled for the rate to apply to the specific time transaction.
      9. Click SAVE & CLOSE.

      Client Rates can also be imported or updated by using the Import/Update routine.

      • Go to Master Files/Clients and click on the link "Excel - Billable Rates".