Set up rate tables—Construction

Set up rate tables to price billable cost transactions for construction projects.

Use rate tables to price billable cost transactions for Construction project contracts. Then, when you generate a project contract invoice, you can mark up the cost amounts based on the criteria in the rate tables assigned to each project contract line.

You can set up rate tables for:

• Timesheets
• Purchasing invoices
• Accounts Payable bills
• General Ledger entries
• Credit card entries
• Employee expenses

For example, use standard equipment cost types on purchasing invoice entries to apply a 25% markup to rented equipment and 10% to owned equipment. You can also apply a markup of 15% to entries without an equipment standard cost type.

How rate tables work

Set up a rate table for each type of billable expense, such as one for timesheet entries, one for accounts payable bills, and so on. Then, assign the rate table to a contract line billed to time and materials so that when you generate project invoices, any billable expense assigned to that contact line uses the rate table assigned to that contract line for that expense type.

For example, a billable timesheet entry assigned to a contract line uses the default rate table assigned to the contract line unless you specified an override rate table for timesheet entries. The rate table evaluates all the rate table rows against the billable expense to find the most appropriate rate match.

It excludes anything with a start date after the billing through date and any rate table line where a specified dimension value on the rate table line differs from what's on the timesheet entry being billed. All fields on the timesheet entry must match corresponding values on the timesheet rate table (blank entries on the rate table are a wildcard match).

If a rate table line has a project, task, and cost type, then the timesheet entry line must match exactly that same combination or it not considered. If the rate table has a blank cost type, it matches because blanks on rate tables are wild cards.

Lines where a rate table field exactly matches that same value for a field take preference over blank field values. The more fields that match the billed entry use the rate in the table. If two or more lines match, then the line order in the rate table determines which rate is used. Lines closer to the top of the rate table take priority over lines lower in the rate table. Any rate table line with a start date after the billing through date are not considered.

1. Go to Projects > Setup > Project contracts > Rate tables.
2. Select Add to create a new rate table.
3. Enter the rate table ID (needed), name (required), and specific rate and markup entries to the relevant sections.
4. Select Save.

1. Go to Projects > Setup > Project contracts > Rate tables.
2. Select Create to create a new rate table.
3. Enter the rate table ID (needed), name (required), and specific rate and markup entries to the relevant sections.
4. Select Save.

Next step: Set up time and materials billing