Rates Tab of the Billing Terms Form

Use the Rates tab to enter the methods for calculating labor, reimbursable expenses, consultant expenses, and units on a project's billing invoices.

You can also select whether or not to use the calculation methods for only generating reports and running Revenue Generation.

If you set up default billing terms in Settings > Billing > Default Terms, those settings prefill in the fields on this tab when you set up billing terms for the first time for a project. You can change prefilled settings as needed.

Contents

Labor

Field	Description
Method	Select one of the following methods to determine how labor charges are extended (calculated) on invoices for the project: No labor billing: Select this option to exclude labor charges from the invoice. Rate times multiplier: Select this option to calculate labor billings based on the employee's job cost rate (specified on the Accounting tab of the Employees hub). You can apply up to three multipliers to the job cost rate. Rate table: Select this option to calculate labor billing using employee-specific billing rates for a single project or class of projects. The rate in the rate table or override table is typically the full billing rate. However, you can apply up to three multipliers to the rate. By category: Select this option to calculate labor billing based on the categories and rates defined in labor category tables that are assigned to employees in the Employees hub. By labor code: Select this option to calculate labor billing based on the labor code that is used to charge labor to a project. You assign billing rates to labor codes in a labor code table. The billing Labor tables are set up in Settings > Rate Tables. For more information on each labor method, see Labor Methods.
Rate Table	This field displays only when you select Rate table, By category, or By labor code in the Method field. Select the rate table that contains the employee rates to use when generating invoices for a project. If you use multiple currencies in Vantagepoint, the list of available rate tables is limited to those with a currency matching the billing currency of the project (as shown in the Billing Currency field on the Summary pane of the Billing Terms form). If the drop-down list in the field is blank, you must set up a rate table with the same currency as the project's billing currency. If your enterprise has set Record Level View access for billing rate tables, you may be limited to only those tables selected by your system administrator.
Multipliers	Enter the multipliers to apply to the labor billing amount. You can specify up to three multipliers. If you choose to show these multipliers, the first multiplier is included in the rate for the employee (not shown on the invoice). The other two multipliers appear on the invoice at the end of the labor section. Labor multipliers are cumulative. Vantagepoint applies the first multiplier, then applies the second multiplier to the result, and so on.
Overtime Method	Select the method to use when extending overtime charges for labor charged to the project. There are three overtime methods: Bill ovt premium as cost: Select this option to bill the premium part of overtime at the end of the labor billing section, as if it were a cost. The premium is the portion of overtime pay that is greater than straight time pay. To generate an overtime premium, at the time of labor costing, the employee must have an overtime markup greater than 100%. The standard overtime markup is specified in the Job Cost Ovt Pct field on the Accounting tab of the Employees hub. Secondary overtime markup is specified in the Job Cost Ovt-2 Pct field. For standard overtime hours, you can apply a multiplier to the premium by entering one of the following in the Ovt Multiplier field: Overtime Multiplier Result 1.0 Bills the premium at cost. Greater than 1.0 Marks up the premium. 0.0 Prevents the premium cost from being billed. If you track secondary overtime hours, you can enter a separate multiplier, just for secondary overtime hours, in the Ovt-2 Multiplier field. If you override the cost rate using a billing labor override table (entered in the Override Table field on the Rates tab), the overtime premium will calculate using the cost rate defined in the override rate table, instead of the cost rate entered on the Accounting tab in the Employees hub for an employee. Sep ovt with employee percent: Select this option to bill hours at a multiple of the employee’s billing rate (set in Employees hub) and separate standard and secondary overtime hours from regular hours on the invoice. Use this method to control labor billing markups by employee. Sep ovt with project multiplier: Select this option to bill hours using a project multiplier (set on the Labor tab of Billing Terms) and separate standard and secondary overtime hours from regular hours on the invoice. Use this method to establish the same labor billing markup for all employees working on the project.
Overtime Multiplier	Enter an overtime multiplier to use with employees who receive a premium rate on overtime hours, rather than a straight time rate. For example, if you want to bill at the regular overtime rate, as specified on the Accounting tab of the Employees hub, enter 1 here. If you want to bill the employee's overtime hours using the straight time rate, enter 0. The employee must designate hours worked as overtime on their timesheet for this multiplier to be applied to overtime hours.
Overtime - 2	Enter a percentage by which to multiply secondary overtime hours. Secondary overtime is overtime costed at a higher or lower rate than standard overtime (often at 200% of the employee’s job cost rate). Vantagepoint applies the Overtime-2 Percentage that you enter in the Ovt-2 Multiplier field to hours entered in the Overtime-2 fields on the timesheet and labor adjustment transaction entry forms. Use this field in addition to the Ovt-2 Pct field on the Accounting tab of the Employees hub if you want to track secondary overtime in addition to standard overtime. This field is available only if the secondary overtime feature is enabled in the Global Labor Options form (Settings > Accounting > Labor Options).
Override Table	Select the labor override table to use (if any) when calculating labor on the invoice. The override table stores exceptions to the employee’s usual rate. You can specify an override table if you selected Rate table, Rate times multiplier, By category, or By labor code in the Method field in this Labor section.
Rates for Reporting (Not Invoicing)	Select this checkbox to use the labor terms for project reporting and revenue generation purposes only. When you select this checkbox, Vantagepoint uses the specified labor terms for the following: On project reports that report at billing rates. You specify whether to base a report on cost or billing rates from the Report at option on the General tab of the project's options form. On the Unbilled Detail and Aging or Unbilled Summary reports, if the Use Reporting Default Terms option is selected on the Options tab. If the Use Reporting Default Terms option is not selected, Vantagepoint uses each project's individual terms, and does not generate report information for projects without terms defined. When you select this checkbox, Vantagepoint does not use the specified labor terms on invoices. This checkbox displays only if Use Reporting Default Terms for All Projects is set to No on the Labor Options form in Settings > Accounting > Labor Options.

Expense

Field	Description
Method	Select one of the following methods to determine how the charges for reimbursable expenses are extended (calculated) on invoices for the project: No expense billing: Expenses are not billed. By account: Expense charges are calculated using a billing expense accounts table. By category: Expense charges are calculated using a billing expense categories table. By vendor: Expense charges are calculated using a billing expense by vendor table. The billing expense tables are set up in Settings > Rate Tables. The tables have multipliers for calculating the reimbursable expense amounts on billing invoices. For more information about these rate tables, see Billing Expense Tables
Rate Table	If you selected By account, By category, or By vendor in the Method field, select the rate table to use for calculating the expense billing. The rate tables store the multipliers to use for the billing calculations. The billing expense tables are set up in Settings > Rate Tables. If your firm has set Record Level View access for billing rate tables, you may be limited to only those tables selected by your system administrator.
Multiplier	Enter the multiplier for calculating the charges for expense billing on invoices in the following situations: A multiplier is not found in the rate table that you entered for the project in the Rate Table field for the account, category or vendor entered for the expense. No expense table is entered in the Rate Table field.
Rates for Reporting (Not Invoicing)	Select this checkbox to use the expense terms for project reporting and revenue generation purposes only. When you select this checkbox, Vantagepoint uses the specified Expense terms in the following ways: On project reports that report at billing rates. You specify whether to base a report on cost or billing rates from the Report at option on the General tab of the project's options form. On the Unbilled Detail and Aging or Unbilled Summary reports, if the Use Reporting Default Terms option is selected on the Options tab. If the Use Reporting Default Terms option is not selected, Vantagepoint uses each project's individual terms, and does not generate report information for projects without terms defined. When you select this checkbox, Vantagepoint does not use the specified expense terms on invoices. This checkbox displays only if Use Reporting Default Terms for All Projects is set to No on the Labor Options form in Settings > Accounting > Labor Options.

Consultants

Field	Description
Method	Select one of the following methods to determine how the charges for reimbursable consultant expenses are extended (calculated) on invoices for the project: No Consultant billing: Consultant expenses are not billed. By account: Consultant expense charges are calculated using a billing expense accounts table. By category: Consultant expense charges are calculated using a billing expense categories table. By vendor: Consultant expense charges are calculated using a billing expense by vendor table. Bill as expense: Consultant expense charges are calculated using the settings in the Expenses section of this tab. The billing expense tables are set up in Settings > Rate Tables. The tables have multipliers for calculating the consultant expense amounts on billing invoices. For more information about these rate tables, see Billing Expense Tables.
Rate Table	If you selected By account, By category, or By vendor in the Method field, select the rate table to use for calculating the consultant expense billing. The rate tables store the multipliers to use for the billing calculations. The billing expense tables are set up in Settings > Rate Tables. This field does not display when you select Bill as expense in the Method field. When you select Bill as expense in the Method field, the method and rate table that you entered in the Expense section on this tab applies for the consultant expenses. If your firm has set Record Level View access for billing rate tables, you may be limited to only those tables selected by your system administrator.
Multiplier	Enter the multiplier for calculating the charges for consultant expenses on invoices in the following situations: A multiplier is not found in the rate table that you entered for the project in the Rate Table field for the account, category or vendor entered for the consultant expense. No expense table is entered in the Rate Table field for consultant expenses.
Rates for Reporting (Not Invoicing)	Select this checkbox to use the consultant terms for project reporting and revenue generation purposes only. When you select this checkbox, Vantagepoint uses the specified consultant terms in the following ways: On project reports that report at billing rates. You specify whether to base a report on cost or billing rates from the Report at option on the General tab of the project's options form. On the Unbilled Detail and Aging or Unbilled Summary reports, if the Use Reporting Default Terms option is selected on the Options tab. If the Use Reporting Default Terms option is not selected, Vantagepoint uses each project's individual terms, and does not generate report information for projects without terms defined. When you select this checkbox, Vantagepoint does not use the specified consultant terms on invoices. This checkbox displays only if Use Reporting Default Terms for All Projects is set to No on the Labor Options form in Settings > Accounting > Labor Options.

Units

Field	Description
Method	Select one of the following methods to determine how the charges for units are extended (calculated) on billing invoices for the project: No Unit billing: Units are not billed. Bill Units: Unit charges are calculated using the multiplier that you enter in the Multiplier field.
Multiplier	Enter a single multiplier to apply to the unit transactions. This multiplier is applied after the unit quantity is multiplied by the billing rate per unit. If you want to bill units at their billing rate per unit, enter 1.0 in this field.
Rates for Reporting (Not Invoicing)	Select this checkbox to use the unit terms for project reporting and revenue generation purposes only. When you select this checkbox, Vantagepoint uses the specified unit terms in the following ways: On project reports that report at billing rates. You specify whether to base a report on cost or billing rates from the Report at option on the General tab of the project's options form. On the Unbilled Detail and Aging or Unbilled Summary reports, if the Use Reporting Default Terms option is selected on the Options tab. If the Use Reporting Default Terms option is not selected, Vantagepoint uses each project's individual terms, and does not generate report information for projects without terms defined. When you select this checkbox, Vantagepoint does not use the specified unit terms on invoices. This checkbox displays only if Use Reporting Default Terms for All Projects is set to No on the Labor Options form in Settings > Accounting > Labor Options.