Rate groups

Additional Rate Groups can be created to allow the setup of specific rates for a particular client or project type that are used on a regular basis e.g. rates used on legal work may differ from the standard staff rates or one client may receive a special discount.  This method create a copy of the Standard staff rates.  Then apply a different charge rate to one or all of the staff rates in the group. 

ClosedGetting Started
Who Can Use It? Where Is It?

Director

System Administrator

Practice > Rates > New > Create Rate Group

Tips

  1. Clients that have "agreed" charge out rates can have a rate group created.
  2. Create a new rate group for multi offices with different charge out rates.
  3. New rates must be created within the Standard rate group.
  4. Learn more about Assigning a rate group to a project.

Create

ClosedComplete the following steps
  1. Click New .
  2. Select Rate Group.  A new rate group dialog box will appear.
  3. Type a description.
  4. Save and close.

More information

ClosedDescription

The description of the rate group will appear internally only i.e. as a project is created the option is available to then assign a rate group.  Once this is done the sub projects charge out will reflect the information stored within each staff rate group in this screen.

Closed% of standard rate

As you create a new group nominate a percent value of the standard rate group you wish to markup or markdown for this rate group. 

Example 1

A new rate group is created called Legal.  The only charge out rate that will be different is the Director.  The % of standard rate will be 100%.  Then the Director rate attached to the legal rate group can be marked up.  All projects associated with the Legal rate group will ensure the Director is charged out at a higher rate.

Example 2

A client has been granted to do a project "at cost".  The rate group will be called at cost and the % of standard rate will be say 75% or 80% - depending on your profit markup.  The classification rate/hour will be the same as the budget OH cost as calculated from the standard rate group (charge out less profit margin).

ClosedEstimated cost / hour

The budget OH cost will be based on the Standard list of staff rates.  These means that if your rate group charge-outs are higher than the standard then you will receive a higher profit estimate. If the charge-outs are lower then you will receive a lower profit estimate.

Example

Rate Group Staff rate Charge out Budget cost Value in profit Est. profit

Standard

Director

$200

$160.00

$40.00

20.00%

Expert witness

Director

$300

$160.00

$140.00

46.60%

Discount 1 at cost

Director

$160

$160.00

0

0%

Deactivate staff rates

When a rate group is created we copy all rates within the Standard group.  However if a rate is not required to be used within the new rate group, any of the rates can be made inactive so they don't appear for selection in timesheets and budget estimates.

Delete a rate group

ClosedComplete the following steps
  1. Click the name of the group under the Rate Group heading. 
  2. The rate group dialog box will appear.
  3. Click delete .  If the rate group has been used within sub projects you will not be able to remove it from the system, instead un check the Active tick box.

Tip: If you would like to know which projects the rate group has been used in, go to Reports : Sub project summary : add filter Practice staff rate IS and select the rate group.

Want to learn more?

Looking for more help? Try reviewing the following Practice topics: Concept Link IconView Topics

Or try reviewing the following Rates topics: Concept Link IconView Topics

 

© 2019 Total Synergy Pty Ltd

Open topic with navigation