To open the Labor Cost Rate Entry form, click Setup in the shortcut or drop-down menu, then click on Lists, then click on Labor Cost Rates.
The Labor Cost Rate form allows you to create Labor Cost Rates. Labor Cost Rates are used in the Employee entry form, and the Resource entry form.
Labor Cost Rates are used to define the actual labor cost used in actual job cost calculating. Note that the labor cost rates include taxes, insurance, benefits, etc., for various types of labor.
You can assign a Labor Cost Rate to each employee in the Employee entry form.
When you assign a Labor Cost Rate to an employee, the rate is used to compute the actual labor cost when you enter labor hours for that employee.
Aside from the standard prompts available on all forms, the Labor Cost Rate entry form has the following prompts:
| Labor Cost Rate: |
| Enter the name of the Labor Cost Rate. |
| Short Name: |
| Enter an abbreviated name for the Labor Cost Rate. This is used in places where there is not enough room to display the full name. |
| Estimated Cost Rate: |
| Enter the estimated total labor costs (per hour), including taxes, insurance, benefits, etc. for this Labor Cost Rate. |
| Update Estimate: |
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If you change the amount of a labor cost rate for employees that have already been assigned to items in a job, select that job to update the estimated labor costs. When you change the amount of a labor cost rate, the new rate will only apply the next time you assign employees to a job item. If you want to update labor cost rates for items in an existing job, then select that job in this prompt, and click OK. The program will ask if you are sure you want to update the estimated labor cost rates for the (number of) items in the job selected. Click Yes to update the labor cost rates in the job selected. |
| Actual Cost Rates: |
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The Actual Cost Rate grid allows you to enter a separate labor cost rate for each payroll item. These are actual labor cost rates that will be used in determining your actual labor costs when you enter labor hours in the Labor Hours entry form. If you are using QuickBooks Integration, the list of payroll items comes from QuickBooks. If you are not using QuickBooks Integration, the list of payroll items is pre-defined by Smart Contractor. |