Once Time Classes and Time Billing Price Formulae have been entered, the two can be united in the Time Billing Price List. This is used to apply the appropriate Price and Cost Formulae to Items belonging to specified Item Groups.

As a simple example of a Time Billing Price List in use, an Item belonging to the "DT" Item Group is entered in a Time Sheet, and the "EVE" Time Class is entered on flip C. When the Time Sheet is approved and saved, the usual sales price of the Item is calculated using the pricing structure described on the Pricing and Costs - Time, Purchases and Materials from Time Sheets and Activities page. Then, the single Time Billing Price List record featuring the "EVE" Time Class (illustrated below) is found. The Price and Cost Formulae both stipulate that the usual sales price of all Items in the "DT" Item Group are to be increased by 50%.

Code: Enter a unique identifying code here.
Time Class: Paste Special Time Classes setting, Job Costing module; Specify here the Time Class that will use this Time Billing Price List. You should enter one Price List for each Time Class: if you enter more than one, only the first will be used and the others will be ignored.
Description: Name the Price List here.

Use the grid to list the Item Groups that can have their sales and cost prices changed by the Price List, and the formulae used to effect those changes.

Item Group: Paste Special Item Group register, Sales Ledger/Job Costing module; Specify here the Item Group whose Items are to have their sales and cost prices modified using the Price and Cost Formulae specified in the fields to the right. Leave this field blank if you want the Formulae to be applied to Items that do not belong to an Item Group.
Price Formula: Paste Special Time Billing Price Formulae setting, Job Costing module; Specify here the code of a Time Billing Price Formula. It is used to calculate sales prices for this Time Class. Note that, in a particular Price List, different Item Groups can have their prices calculated using different Formulae.
Cost Formula: Paste Special Time Billing Price Formulae setting, Job Costing module; Specify here the code of a Time Billing Price Formula. It is used to calculate cost prices for this Time Class.

When entering Time Billing Price Lists, the following points should be borne in mind:

Time Billing Price Lists work at an Item Group level, not an Item level. If you use an Item that does not belong to an Item Group in a Time Sheet together with a Time Class, the Time Class will usually have no effect. The same is true if the Item belongs to an Item Group not listed in the Time Billing Price List. The only exception is if you have entered rows in your Time Billing Price Lists where the Item Group field is blank.
Providing point 1 above is satisfied, the Cost Formula will always be applied to the normal cost price (the normal cost price is the Cost Price of the Item in the case of Plain Items, and the Cost per Hour of the Person carrying out the work, the Service Item Cost Price from the Project Settings setting or the Cost Price of the Item plus its Extra Cost in the case of Service Items). However, the Price Formula is only applied to the normal sales price if that is the Base Price of the Item or the Price per Hour of the Person carrying out the work or if it is determined by the Price List of the Customer or Customer Category. The Price Formula is not applied if normal sales price is taken from the Customer Discount or Item/Job Group Prices settings.

Please refer to the Pricing and Costs - Time, Purchases and Materials from Time Sheets and Activities page for more details about how the normal sales price is calculated.

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