Checklist: Setting Up Effective Dates for Cost Rates
Use the Cost/Pay Rate Tables to specify when a change will occur in the cost rate or pay rate that is associated with a specified labor rate, labor category, labor code, or labor override table. The date on which a change will occur is the "effective date" of the change.
The checklist includes the steps to configure and set up Vision's effective dates feature for cost rates. Although you use the same cost/pay tables to set up both cost and pay rates, the configuration and setup of pay rates is separate.
Deltek recommends caution if you use labor codes. While a labor code lets you easily specify the cost rate for one type of labor throughout your firm, regardless of the employee or labor category, its inadvertent or improper use has potentially serious consequences. Labor codes at your firm may be numerous and complex with subtle differences among them. Any employee filling out a timesheet can select from all labor codes in your firm. Review your firm's system that screens labor code use, and consider using a labor rate or labor category table instead.
| Step | Description |
|---|---|
| 1 | For each security role that is involved in effective date configuration and setup, specify full security access to the effective dates cost rates feature. |
| 2 | Enable effective dates for cost rates in |
| 3 | Set up cost labor rate, category, and code tables. The tables list employees and specify how each employee's cost rates are affected by the effective dates feature. |
| 4 | Enter a cost rate method and rate table for each project, phase, and task that will use an effective date cost rate table. You can enter a method and table at the highest WBS (project) level, and then enter a method and table at one or more of the project's lower WBS levels to override the rate at the highest WBS level. |