![]() |
|
||||
Labor Billing Rates |
|||||
LABOR BILLING RATE BASICS RELATED TOPICS Entering Labor Billing RatesTo enter an Labor Billing Rate, follow these steps:
Data FieldsEnter the following information for each Labor Billing Rate:Name-- Type in a brief name for this billing rate. This is the text that will appear in clairvoyant fields. Calculation MethodsThere are several methods you can use to calculate labor billing rates.Flat Rate-- A flat dollar rate for all uses of this billing rate. Net Cost CalculationsIf the billing rate uses the Net Cost option, the actual cost of labor is not fully calculated until after payroll is completed.HINT-- Before you write payroll, Goldenseal temporarily uses the Pay Rate calculation amount for billing and job costs. After you write payroll, Goldenseal automatically adds burden to the billing amounts. Burden includes the cost of taxes, insurance and benefits that are paid by the employer. If you need to do time and materials billing before you write payroll, don't use the Pay Rate calculation option in the labor billing rate. Instead,
use a flat rate, or use the Pay Rate plus Percent option and add a percentage to cover employer burden (and overhead costs, if desired). Using Labor Billing RatesAssign Labor Billing rates in Employee Accounts-- you'll use one rate for time and materials billing, and one to calculate job costs.If the selected billing rate uses a Variable Rate calculation method, you can enter the specific billing rate that is used for that Employee account. When you create a Labor Hours transaction, the billing and job cost rates from the Employee account are entered automatically. You can change either of the billing rates, if a different rate will be used for this transaction. Main Page | Accounts | Lists | Transactions | Menus | Index | Website | User Page |