Cost Rate Setup

The Cost Rate module allows you to set up a cost code and cost rate by Project for timesheets.  The rates could be set with different cost codes depending on the sequence you want the system to retrieve the cost rate.   

NOTE: Employee cost rate is already available in the employee setup, but in some cases you might have a different cost rates by activity/WBS and in that case you would use Cost Rate setup by WBS.

For example if you have the following rates:

If Any one changed hours on Project ABC the cost rate will be $100 per hour except one Employee which is  Employee A worked worked on this project it will be $150 per hour and any other projects the default rate is $200 per hour.

So you could setup the following sequence so the system picks the correct cost rate

To setup the following:

• Cost Code Sequence

• Cost Rates 

• Setup Only Cost Rate by Employee