View the staff current charge out rate values applied when staff enter time against a project. Check what markup values are used for expense types like suppliers, sub contractors, cash expenses (flights, taxis, couriers), travel expenses (mileage). For Business or Enterprise only 'inspection rates' can also be created.
|Setup required before use||Who can use it?||Where is it?|
|Settings > Financial > Rates|
Tip: Learn more about what each of the rate types are used for in Synergy in the create new rates topic.
What is the rates list?
Rates list is used to view all the existing rates created for use throughout Synergy. Add new rates to charge out on projects staff timesheets, supplier and subcontractor expenses, internal office expense items, and staff expenses (cash and travel) items. Inspection rates can also be created if you are using the Synergy version Business or Enterprise.
Edit the rate value or markup percentage using variations to reflect the updated rate for each quarter or year. For Business or Enterprise variations can also be added for a selected project or client to reflect any special rate discounts for that customer / job / section of work.
Why use the rates list?
View and update any of the existing charge out rates or expense markup % values. Change the charge out value of staff timesheet transactions, or markup for expense items by adding rate variations.
Click the 'add' button in the top right corner to create a new rate. Learn how to create each of the rate types in the creating rates topic.
- Staff rates - Staff rates are created for each job role / position. Used to define the rate that each staff member is charged at when they complete project tasks and enter the time duration in their timesheets.
- Travel expense items - Rates for fixed expense items that staff want to be reimbursed for such as 'mileage' for car travel or road tolls. Used by staff when entering their expense claims. The 'cost' is the amount the staff member will be reimbursed for the expense, and the 'value' is the markup value applied to expense.
- Cash expense markup - Markup % rate allocated to variable expense items that staff want to be reimbursed for. i.e. Flights, hotels, taxi's, courier fees etc. The markup % is applied when the expense is on-billed to the client on a project invoice.
- Inspection rates* - Define the internal cost, and charge out fee to your clients for a site inspection. The defined value is a flat rate per site visit i.e. charge out rate for a 1 day or 1/2 day site visit. The staff member will still enter the exact hours for this site visit in their timesheets, but the client is charged the flat fee for the visit from the site inspection rate. *This feature is available with the Synergy Business or Enterprise products.*
- Office items - Create a rate for internal office tasks that you complete that you need to on-bill to your clients. e.g. Printing plans, color printing, binding, photocopying etc. Define the cost for you to complete the task like printing the document, and the charge out value that you want to bill your clients on a project invoice for the task.
- Sub contractor markups - Sub contractor invoices are entered in Synergy to on-bill to your clients on project invoices. Sub contractors expenses are for services that form part of the project fee that were carried out by an external party, that you need to on-bill to your client. Define the markup % that can be applied to the sub contractor invoice when they are assigned to a Synergy project. Multiple markup % rates can be created.
- Supplier markups - Supplier invoices are entered in Synergy to on-bill to your clients on project invoices. Supplier invoices are received for goods that your purchased to complete the project work. i.e. equipment hire, airfares and accommodation costs that staff haven't paid for yet, printing, courier fees etc. Define the markup % that can be applied to the supplier invoice when they are assigned to a Synergy project. Multiple markup % rates can be created.
- Supplier items - Used for frequently purchased items that need to be on-billed to clients on project invoices. E.g. Equipment is hired for site work on a regular basis. Use supplier items to have the default 'cost' and 'charge out' value (which includes the markup) for the project invoice. This allows you to have the supplier item entered to hire the equipment from company A, and another entry for company B.
- Sample rates are added with your Synergy organization to make it easier to get started. Update the rate values or markups by editing these sample items and get started using Synergy.
- Change the charge out rate value or markup each quarter or year by creating a 'standard' variation, and entering a date range.
- Apply special discounts or surcharges to a rate using contact or project variations. *This feature is available with the Synergy Business or Enterprise products.*
Click a rate row to open it and view the details.
Update the fields that are shown in white, or add a rate variation. The gray fields are read only.
The following changes can be made to an existing rate:
- Change the rate name - This will update all the transactions in Synergy that they rate has already been allocated to display the updated name.
- Change the rate value (standard variation) - Adjust the charge out rate value for a new financial year or period.
- Apply a client discount / surcharge (contact variation)* - *This feature is available with the Synergy Business or Enterprise products.*
- Apply a project discount / surcharge (project variation)* - *This feature is available with the Synergy Business or Enterprise products.*
Review the steps on how to make each of these changes in the updating the rates topic.
The delete a rate option is available if the rate has not been used on any timesheet entries, expense entries, or projects / stages.
Delete a rate by:
- Go to: Settings > Financial > Rates.
- Single row - Click the row action button and select 'delete'.
- Multi row - Select the check box(es) on the row left for each item you want to delete. Then click the multiple rows action button and choose 'delete'.
- The list is refreshed and the rate(s) have been deleted.
Tip: If the rate has already been used change the rate to be 'inactive' to stop future usage of the item.
Change the rate to be inactive to stop future use of the item, and remove it from drop-down lists in Synergy. By not deleting the rate the history of the rate and change value adjustments or variations is kept in Synergy for reporting purposes.
Update the rate to inactive by:
- Go to : Settings > Financial > Rates.
- Single row - Click the row action button, and select 'edit'. Uncheck the 'active' box, and then save and close.
- Multi row - In the list check the box(es) on the left of the name column, and then click the multi rows action button. Choose 'set as not active' option.
- The rate is inactive and unavailable for future use. This will not impact any of the transactions or budget rows that are already using this rate.
Tip: A strike-out style is applied to all rates that are not active in the 'all' status rates filter view.
When a large number of rates exist use the search to limit the number of rows shown in the list.
Search for rates by:
- Click the search button (next to the add button).
- Type a keyword into the search box and click enter to run the search. i.e. type 'dir' to look for Director.
- The list is updated to show the search results are displayed.
Tip: Remove the search filter and return to the default list view by clicking the 'clear' button in the search box.
When a large number of rates exist use one or more filters to limit the results shown. The default list filters are 'all rate types' and 'active' status rates. Add custom filter to rates list by:
- Click the search button (next to the add button).
- The search bar is now displayed.
- Select a filter from the 'rate types' drop down.
- Select a filter from the 'status' drop down.
- Click the search button to apply the filter(s) to the list.
Tip: Remove the custom filters and return to the default list view by clicking the 'clear' button in the search box.
- Tags - Tags can be entered as 'extra data' against the 'supplier item' rate type only. Type the tag you want to search for against all supplier items rates. Multiple tags can be entered if required.
- Rate type - All inactive rates are shown. These rates are a history of previously used charge-out rates or markup values, and are changed to not active status to stop future usage of the item. The inactive rates are not available for selection in rates drop-down lists in Synergy. A strike-out style is applied to the rate name in the list when the rate is not active.
- Active - Select if active, inactive, or all (both) rates are shown. The inactive rates are shown with a strike-out style applied. The default filter option is active.
Sample rates are automatically created with each new Synergy organization. Sample data is added to make it easier to get started, and any items that are not required can be deleted or changed to be 'inactive'. A different list of default rates are created based on the industry type selected for the organization when it was created:
|Rate name||Rate type||Value / markup||Architects||Construction||Engineers||All other industry types|
|Senior interior designer||Staff||$1||Y|
|Sub contract||Sub contractor||10%||Y||Y||Y||Y|
- Rate - The name of the rate to be shown in drop-down lists, reports, and document output created by Synergy. 50 characters are allowed for a rate description.
- Type - The type of rate is a category that describes which function or a type of task the rate can be used. The available types are staff, cash expenses, travel expenses, supplier markups, supplier items, subcontractor markups, and office items. For Business or Enterprise inspection rates can also be created. Learn more about each of the rate types and their purpose.
- Tags - View any tags that have been entered against supplier item rates. Tags cannot be entered against any other rate type. Tags are used to store extra data, to help you search for and group together similar types of items that you buy from suppliers. i.e. certain types of building supplies, pool items etc.
- Variations - When the charge value for the rate has been changed over time and an audit history exists, then the variations column is populated. The number of changes are shown along with the price range showing the lowest and highest value for the rate. The variations are completed on a date range (effective date) and only one value is active at a time for standard rates.
Additional variations can be added to discount the rate value for a project or contact (available in Business or Enterprise only). Learn more about variations.
- Current value - The current charge out dollar value or the markup percentage is shown for the standard rate type.
Tip: The default list filter is 'active' to show only rates that are available for use. Use the list filter to find the 'inactive' rates that are no longer available for use time / expense entry.