Project Rates in Commercial Projects
This article explains how users can specify the rates for employees working on a Commercial Project. These rates indicate how much an employee is paid for their work in the project and from what date the rate is effective.
This information is used to generate Margin Reports and calculate Expected Income.
To add a new rate entry, select "+".
Complete the fields.
- Employee: Select the employee from the list.
- Project: Select the project for which the rate applies.
- Hourly Rate: Enter the hourly rate charged to the client for each hour of the employee's work.
- Monthly Rate*: Enter the monthly rate, a fixed amount charged to the client for the employee's work over the month.
- Internal Rate: Optionally, enter the internal rate, which indicates the company's cost per hour for the employee, including salary and overhead expenses. This is used for internal calculations.
- From Date: Specify the date from which this rate should take effect.
* Enter either the Hourly Rate or the Monthly Rate, not both. If both values are entered, the employee will be paid for all hours worked at the specified hourly rate in addition to the monthly rate.
The most recent entry will be considered current until a new rate is added. For example, if a Monthly Rate of $1000 is set with a From Date of 01.01.24, the employee will receive $1000 per month starting from January 1, 2024. If a new entry is added with a Monthly Rate of $1500 and a From Date of 01.02.24, the employee will start receiving $1500 per month from February 1, 2024, until a new rate is added.
To find the current value, use the search by name.
