Contents of the Rates for Reporting Form
Use the fields and options to enter the reporting default terms for labor, expense, consultants, and units to use in reporting.
Header Fields
Field | Description |
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Project category record search | Use the field next to the form title to search for and select a project category record to view or edit. Click the filter drop-down arrow
on the left side of the search field, and select one of the following search types:
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Project Category Record Name and Company Name | When you select a project category record to view to view or edit, the names of the project category record and the active company display at the top of the form. |
Actions Bar
Field | Description |
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Edit | Click this option to switch the form to Edit mode so you can make changes to project category information. |
Rates Tab
Labor
Field | Description | ||||||||
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Method | Select the labor method to determine how labor charges are extended on an invoice from the following options:
For more information on each labor method, go to Labor Methods. |
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Rate Table | This mandatory field appears 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 the invoice for the project.
You can enter the full name or choose a rate table from the options in the drop-down list. If you use multiple currencies, 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 is blank, you must set up a rate table with the same currency as the project's billing currency. 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. |
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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:
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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. |
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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 ( ). |
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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 are using the Rate Table, Rate times multiplier, By Category, or By Labor Code method for billing labor charges. |
Expense
Field | Description |
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Method | Select the expense method to determine how Vantagepoint extends reimbursable expense charges on the invoice. |
Rate Table | This mandatory field appears only when you select
By account,
By category, or
By vendor in the
Method field. Select the expense table that stores the multipliers for the accounts/vendors/categories that should be billed for this project.
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 to apply to expenses charged to the project. If you bill expenses,
Vantagepoint determines the multiplier to apply to the expense charges as follows:
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Consultants
Field | Description |
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Method | Select the consultant expense method to determine how
Vantagepoint extends consultant expense charges on the invoice. Choose from the following options:
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Rate Table | This mandatory field appears only when you select
By account,
By category, or
By vendor in the
Method field. Select the expense table that stores the multipliers for the accounts/vendors/categories that should be billed for this project.
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 to apply to consultant expenses charged to the project. If you bill consultant expenses for a project,
Vantagepoint determines the multiplier to apply to the consultant expense charges as follows:
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Units
Field | Description |
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Method | The unit expense method determines how Vantagepoint extends unit expense charges on the invoice. |
Multiplier | Enter a single multiplier to apply to the unit transactions. Vantagepoint applies this multiplier after the unit quantity is multiplied by the billing rate per unit. If you want to bill units at their billing rate, enter 1.0 in this field. |