Equipment Billing Rates

Use Equipment Billing Rates to set up time and materials billing and job cost rates for equipment.

HINT-- The Goldenseal accounting software uses Equipment Billing rates to calculate time billing amounts for equipment use. It also calculates job costing amounts for equipment time.

EQUIPMENT BILLING RATE BASICS
Entering Equipment Billing Rates | Data Fields | Using Lists | Using Equipment Billing Rates

WEBSITE INFO LINKS
Accounting Software | Billing Software | Equipment Tracking Software
Project Billing Software | Project Management Software | Time Billing Software

Entering Equipment Billing Rates

To enter an Equipment Billing Rate, follow these steps:

Choose Billing Rates from the Options menu, then choose Equipment from the submenu.
Click the New button, or click on an existing item and click the Edit button.
Enter details for the billing rate.

Data Fields

Enter the following information for each Equipment Billing Rate:

Name-- Type in a brief name for this billing rate. This is the text that will appear in clairvoyant fields.
Description-- Type in any comments you'd like to make about this item.
Calculation Method-- Choose the method used to calculate this billing rate. Use Dollar Rate if this billing rate is always the same amount. Use Variable Rate if this billing rate is different for each piece of equipment that uses it.
Amount-- If you are using a dollar rate, enter the dollar amount per unit of time.
Startup Cost-- If you charge a fixed amount in addition to hourly usage, enter it here.
Overhead Account-- Choose the overhead account associated with costs that use this billing rate.

Using Equipment Billing Rates

Assign Equipment Billing Rates in each Equipment account. The Billing Rate field determines what is charged when the equipment item is used for time and materials billing. The Job Cost Rate field determines the internal charge for use of this equipment when it is used on projects.

If the selected billing rate uses a Variable Rate calculation method, you can enter the specific billing rate that is used for that equipment account.

When you create an Equipment Hours transaction, the rates from the equipment account are entered automatically. You can change either of the billing rates, if a different rate will be used for this transaction.