Step 5.5: Setup Your Labor Costs and Rates

If you add new users, you will be given the option to set up labor costs and rates.

  1. Set costs and rates
  2. Move on to the final step
  3. Resource name. Resources can be users, subcontractors, or equipment.
  4. Select whether this resource’s salary/cost is yearly or monthly.
  5. Enter in the resource’s salary/cost rate.
  6. Employee benefits
  7. Tax rate
  8. Insurance/Workers’ Compensation
  9. Union fees
  10. Other benefits
  11. Enable overtime eligibility
  12. Final calculated hourly rate for this resource.
  13. Specify how overtime is calculated, either by exceeding a daily hour maximum, weekly hour maximum, or never.
  14. Enter the number of hours needed to exceed to qualify for overtime pay.
  15. Save changes
  16. Set default budgeting and billing rates for roles, where a resource is not specified. This column is the list of roles in your system so far.
  17. Set a default billing rate for this role.
  18. Set a default budgeting rate for this role. Your actual costs may be different if your resource has a different cost than this budgeting rate.
  19. Delete this role.
  20. Add a new role.
  21. Save changes.