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Charge rates are used to calculate the chargeable value of WIP that is posted to a client account through timesheet or expense postings Charge rates are usually calculated from the cost to the practice of the staff member (for example, the individual's salary) factored up by a certain percentage or value.
Each staff member registered on the Time Ledger can have a unique charge rate, or staff at the same level (for example, clerks or managers) can share a single charge rate. Charge rates can also be assigned to Work Types, which will take precedence over the charge rate assigned to the staff member.
It is possible for staff members to have multiple charge rates, one will be defined under the rates section when creating the staff member, the others can be selected when postings the staff member's timesheet.
To select an alternative rate on the timesheet the charge rate column will need to be applied. To add the column please refer to the steps shown below:
Reopen your timesheet
Right-click on the column headers at the top of the timesheet
Ensure Charge rate is selected
Once applied the charge rate column will appear at the far right of the timesheet. You can either type in the charge rate identifier or click the spyglass and select the appropriate rate.
Charge rates can be adjusted from a certain date (for example, after
a salary review). When time is posted to the system the date of the posting
will determine the charge rate used, this way any corrections which relate
to an earlier charge rate will reflect the correct charge at that time.
If there is no rate assigned to the staff member or a posting precedes the date of the earliest charge rate, the Time Ledger will produce a warning, if this is ignored an zero rate will be assumed.
Because the nature of charge rates is sensitive to both the practice and any individuals involved, it is possible to restrict who can view, alter and assign them.