Example of Billing Overtime Using the Project's Overtime Multiplier and the Rate Table Method
You can have Vision calculate overtime using the project's Overtime Multiplier method with the Rate Table method.
Specify the Overtime Method and Labor Method on the Labor tab of the Billing Terms form.
The employee’s regular and overtime cost rates are based on the rate specified in the table specified at the Rate table field on the Labor tab of the Billing Terms form. If an override table is specified for the project, and the employee has an override rate in the table, Vision uses this rate to calculate regular and overtime charges. Although this example does not apply additional multipliers, you can specify additional multipliers for rate table methods.
The following factors contribute to the calculation of overtime billings:
| Factor | Value |
|---|---|
| Employee’s billing rate from Billing Rate Table | $70.00 per hour |
| Overtime Multiplier on the Billing Terms Form | 1.5 |
| Regular Hours (Timesheet Posting) | 15 |
| Overtime Hours (Timesheet Posting) | 3 |
The calculation is:
| Description | Calculation |
|---|---|
| Overtime Rate |
Billing Rate * Overtime % from Employees Info Center = $70.00 * 1.5 = $105.00 |
| Extended Regular and Overtime Charges |
(Reg Rate * Reg Hours) + (Ovt Rate * Ovt Hours) = ($70.00 * 15) + ($105.00 * 3) = $1,050.00 + 315.00 = $1,365.00 |