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This text refers to program version 8.5  

Time Billing Price Formulae, Time Billing Price Lists, Time Classes - Time Billing Price Formulae

This page describes the Time Billing Price Formulae setting in the Job Costing module.

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After entering your Time Classes, you should define some Time Billing Price Formulae. These are the formulae that will be used to calculate the different charge-out rates for the various Time Classes.

Whenever a charge-out rate for time that is not the standard rate will be calculated (e.g. when adding Service Items to a Project Budget, or when creating a Project Transaction from a Time Sheet or Activity when there is no Budget), you will need to specify a Time Class. The standard rate will first be 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 will be applied, resulting in an uplift or discount as appropriate. A separate Formula will also be 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 [Switch Module] button in the Navigation Centre. Then click Windows/macOS) or tap (iOS/Android) the [Settings] button, also in the Navigation Centre and double-click or tap 'Time Billing Price Formulae' in the resulting list. When the 'Time Billing Price Formulae: Browse' window appears, select 'New' from the Create menu (Windows/macOS) or from the + menu (iOS/Android) to create a new record. When the new record is complete, click [Save] (Windows/macOS) or tap √ (iOS/Android) to save it.

Code

Enter a code by which the Price Formula can be identified.

Description

Specify a name for the Formula.

% Adjustment

Enter the percentage multiplier that will be used to calculate the price. For example, enter "110" to add 10% to the base price, "90" to deduct 10%.

Add 1

Use this field if you need a fixed amount to be added to or deducted from the base value. If you have also entered a % Adjustment in 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

Use this field if you need another fixed amount to be added or deducted after the rounding process.

After entering your Time Classes and defining the Time Billing Price Formulae that will be used to calculate the charge-out rates for each Time Class, use Time Billing Price Lists to connect the Time Classes to the Formulae.

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Settings in the Job Costing module:

• Introduction
  

• Account Usage J/C
  

• Customer Discount
  

• Force Time Entry
  

• Info in Project Info Report
  

• Item Groups
  

• Item/Job Group Prices and Job Group/Item Prices
  

• Job Groups
  

• Number Series - Projects
  

• Number Series - Time Sheets
  

• Project Classes
  

• Project Classification Types
  

• Project Classifications
  

• Project Item Handling
  

• Project Phases
  

• Project Settings
  

• Specified Project Item Handling
  

• Time Billing Price Formulae, Time Billing Price Lists, Time Classes, including:
  
  • Time Classes
    

  • Time Billing Price Formulae
    

  • Time Billing Price Lists
  
  
• User Def. Field Labels - Project Managers
  

• Work In Progress Control

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Go back to:

• Home page for Job Costing module manual
  

• Home page for Standard ERP manual

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