These are the formulae that are used to calculate the different rates used by the various Time Classes. When a Time Sheet is saved, the standard price is first calculated using the pricing structure described on the Pricing and Costs - Time, Purchases and Materials from Time Sheets and Activities page. Then, the correct Price Formula for the Time Class is applied, resulting in an uplift or discount as appropriate. A separate Formula is also applied to the Cost Price (e.g. to reflect the overtime rates paid to employees), so be sure to enter sufficient Formulae to cater for all circumstances.

To define a new Price Formula, first move into the Job Costing module using the Modules menu. Then click [Settings] in the Master Control panel or select 'Settings' from the File menu. Double-click 'Time Billing Price Formulae' in the resulting list and click [New]. When the new record is complete, click [Save] to save it.

Code: Enter a code by which the Price Formula can be identified.
Name: Specify a name for the Formula.
% Adjustment: Enter the value that will be used to calculate the price. This is a percentage figure: enter "110" to add 10% to the base price, "90" to deduct 10%.
Add 1: Add or deduct a fixed amount. If used in combination with the field above, the addition or deduction will take place after the percentage adjustment.
Round Off: Paste Special Choices of possible entries; Specify here the number of decimal places you wish to be used in the calculation.
Add 2: Add another fixed amount after the rounding process.

Previous Next Top Entire Chapter in Printable Form