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Billing Rate and Pay Rate RRS feed

  • Question

  • I am trying to calculate two rate based cost values ....cost 1 = work * standard bill rate, and cost 2 = work * pay rate.  I see the rate table feature but I am having trouble calculating a cost based on rate 2.  Ultimately i am trying to determine billing revenue and compare it with the actual labor cost.
    Friday, October 14, 2011 1:36 AM

Answers

  • RichLab,

    When you say you "see the rate table feature", I assume you mean you found the five cost rate tables available for each resource. The standard rate will be table A. Enter a value in rate table B for your billing rate. Now go to the Resource Usage view and add the Cost Rate Table field as a column in the view. By default you will see rate table A on each assignment row. The Cost field will show the calculated field based on which rate table is selected for each assignment. In your case you may want to copy the Cost field into extra cost field Cost1. Then change the cost rate table for each assignment to table B. Now the Cost field shows the billing cost. You can copy that into another extra cost field (e.g. Cost2).

    However, be advised that those two extra cost fields are assignment fields. They are not the same Cost1 and Cost2 fields you would see if you displayed them in a task view (e.g. Gantt Chart) or Resource view (e.g. Resource Sheet). If you need those two cost field values to show in the Gantt Chart view, you will have to either copy and paste them or for a much less laborious and error free method, use a VBA macro to transfer the assignment cost data to task cost fields. For more information about doing the latter, go to the MVP website at, http://www.mvps.org/project/faqs.htm, and take a look at FAQ 51 - Data types: task, resource and assignment, and FAQ 37 - Custom fields in views.

    And just for reference, although you can display the Cost Rate Table field in both the Gantt Chart and Resource Sheet views, you will see no table listed and you cannot enter a table letter.

    Hope this helps.

    Update: After posting this reply I had another thought. It might be easier to create a custom field with a formula. The formula would simply take your Cost field and multiply it by your billing rate factor. If it's not a fixed rate, (e.g. billing rate varies by labor type), the formula gets a little more complex but at least you can do the whole thing directly in the Gantt Chart view. A VBA macro could be developed to facilitate the process.

    John


    Friday, October 14, 2011 3:25 AM