| Description: |
A project has different cost rates at the task level. Is it possible to have Vantagepoint do this?
Resolution:
Enabling Cost and/or Pay Rates:
- Go to Settings > Accounting > Labor Option and select Enable Cost Rate Table, Enable Pay Rate Tables or both. (Cost Rate Tables are used to create the journal entry associated with the labor hours and apply cost to the project. Pay Rate Tables are used for paying the employee (when the Payroll Module is owned).
- Click Save.
Creating a Cost or Pay Rate Table:
- Go to Setting > Rate Table and choose:
- Cost/Pay Labor Rates if the Cost/Pay rate is based on the employee.
- Cost/Pay Labor Categories if based on the Labor Category on the timesheet.
- Cost/Pay Labor Codes if based on the Labor Code on the timesheet.
- Select New Rate Table in the upper right hand side of the screen or select an existing Rate Table to copy and go to Other Actions > Copy.
- Give the New Cost/Pay Rate Table a Table Number and a Table Name.
- Choose Rate Type of Cost Rate, Pay Rate or Both.
- Click Add Cost/Pay Labor Rate to insert a line in the grid and select the employee, labor category or labor code (based on type of table selected in step #3) and the enter applicable Rate.
- Enter an Effective Date if a schedule needs to be built because the rates are expected to change in the future. This can always be added later, if needed. If rates are expected to remain the same, leave the Effective Date field blank.
- Click Save.
Attaching Cost or Pay Rate Tables to the Project:
- Go to Projects HUB > Project, select a project and then a phase and/or a task (to the lowest level).
- On the Accounting tab > Cost and Pay Rates section, select a Cost Method. If From Employee Cost Rate is selected, Vantagepoint will use the Job Cost rate from the Employee HUB > Accounting tab. If From Labor Rate Table, From Category Rate Table or From Labor Code Table is selected, the tables for each type of Rate Table will show in the Cost Table drop-down field. Select a Cost Table.
- The Pay Rates are setup similarly. On the Accounting tab > Cost and Pay Rate section select a Pay Method. If From Employee Pay Rate is selected, Vantagepoint will use the Pay Rate from the Employee HUB > Payroll tab. If From Labor Rate Table, From Category Rate Table or From Labor Code Table is selected, the tables for each type of Rate Table will show in the Pay Table drop-down field. Select a Pay Table.
- Click Save.
Knowledge Base Reference Number: KBA #108934
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