Rate Card Management

Modified on Fri, 17 Mar, 2023 at 9:21 AM

User roles:  ✔ Financial Administrator

Rate cards are applied to project resources in order to establish their forecast and cost to the projects they are assigned to.

Rate cards are used to calculate:

The forecast cost of a resource on a project, based on their project allocation.
The actual cost of a resource on a project, based on their actual time booked via their timesheets.

Rate Cards can be managed and updated in one of two ways - both available from the Financial Administration console:

Using the user interface;
Via spreadsheet download/upload

Both options are outlined in the article below.

To access the Financial Administration console navigate to 'Financial Administration' from the drop-down menu under your Avatar.

Configuring rate cards using the user interface

From the Financial Administration Console select Rate Card Management under the Financial Settings section to navigate to the rate cards page.

From here you can either EDIT rate cards by clicking on the edit pencil icon in front of the rate card entry or create a NEW rate card by clicking on ADD ITEM.

Make your changes and additions to the rate card dialog and save your changes. See the table at the bottom of the article for a full description of each field.

Once you've made all the necessary updates to the rate cards, remember to click on APPLY TO ALL PROJECTS to apply the changes to all project financials forecast in open months.

Rate Cards Download/Upload

If you have many rate cards to create / update, you may want to use the rate card bulk edit functionality. You can find the bulk edit functionality under the Tools menu on the rate cards page or under the Data Management section of the Financial administration page.

Select the Download button to Download the rate cards file. Make the changes to the Excel spreadsheet that you downloaded. See the table at the bottom of the page for a full description of each column.

When you are happy with your changes, select Upload to upload the updated file.

Field and Column description

Column & Title in upload file	Matching field title in the rate card dialog	Description	Data Type	What happens if field is left blank in upload file?
A. Id	N/A	Fluid unique ID of the rate card. When uploading the file, the ID is used to identify which rate card should be updated.	Numeric	If a GUID value (column AC) is set, then the value will be used to identify the rate card which should be updated. Leave the ID and GUID values empty if you are creating a new rate card.
B. Classification	Classification	The classification or title of the rate card. You can have multiple rate cards with the same classification - but their date ranges cannot overlap.	Text	Mandatory field
C. Active	Active	Whether the rate card is active in the system and can be used.	Yes/No	Field is set to No.
D. HourlyRate	Hourly Rate	The hourly rate of the rate card.	Numeric	Field is set to 0.
E. MonthlyAmount	Monthly	The monthly value of the rate card.	Numeric	Field is set to 0.
F. LocalCurrencyValue	N/A	Value equals E. MonthlyAmount.	Numeric	This is a derived value and is not needed for upload.
G. DefaultCurrencyValue	N/A	Value equals E. MonthlyAmount x R. ConversionRate ToDefault.	Numeric	This is a derived value and is not needed for upload.
H. MonthlyIndirect	Monthly Indirect	Any monthly indirect costs associated with the rate card.	Numeric	Field is set to 0.
I. MonthlyDirect	Monthly Direct	Monthly direct costs associated with resources on the rate card.	Numeric	Field is set to 0.
J. Daily	Daily Rate	The daily rate of the rate card.	Numeric	Field is set to 0.
K. MonthlyHours	N/A	The number of hours in a month	Numeric	Field is calculated as Hours per day multiplied by Days per month.
L. DayHours	Hours per day	The number of hours per day associated with the rate card.	Numeric	Field is set to 0.
M. MonthDays	Days Per Month	The number of days per month associated with the rate card.	Numeric	Field is set to 0.
N. ExpenseCategory	Expense Category	The expense category the rate card should be allocated against. The entry must match a configured expense category.	Text	Field is left blank.
O. ExpenseType	Expense Type	The expense type the rate card should be allocated against. The expense type must have an expense class set to resource.	Text	Field is left blank.
P. Note	Note	Free text field for notes associated with the rate card.	Text	Field is left blank.
Q. CurrencyCode	Currency	The currency the rate card is in. In the upload, the field must match a configured currency.	Selection	Field is left blank.
R. ConversionRate ToDefault	Conversion rate to default currency	The conversion rate that should be applied to the rate card to convert it to the default currency. Click here for more on currencies and rates.	Numeric	Field is set to 0.
S. ConversionRate ToRestated	Conversion rate to restated	The conversion rate that should be applied to the rate card to restate it to the default currency. Click here for more on currencies and rates.	Numeric	Field is set to 0.
T. IsCapitalizable	Is Capitalizable	The rate card is capitalisable.	Yes/No	Field is set to No.
U. StartMonth	Start Date (Month)	The date the rate card is in effect from.	Date	Mandatory field.
V. EndMonth	End Date (Month)	The date the rate card expires.	Date	Mandatory field.
W. EndMonthDay	N/A	N/A	N/A	N/A
X. UtilizedAllocation	Utilized Allocation	The allocation value used to calculate whether a resource is fully utilised.	Numeric	Field is set to 0.
Y. IsCapped	Apply Capped Hours	Is the rate card capped on how many hours per week can be charged to projects?	Yes/No	Field is set to No.
Z. CappedHours	Weekly Capped Hours	The number of hours allowed per week if Y. IsCapped is set to Yes. If a resource books over the capped hours allowed, excess hours are costed at 0.	Numeric	Field is set to 0.
AA. IsDailyRate	Apply Daily Rate	Regardless of the actual time booked in a day by a resource, the full day rate will be charged.	Yes/No	Field is set to No.
AB. IsNonProjectCharged	Is Non Project Charged	If set to Yes then time booked to non project related activity will carry a cost AND the hours will be included in the weekly Z. CappedHours allowed for the rate card.	Yes/No	Field is set to No.
AC. Guid	N/A	Unique string identifier for the rate card in Fluid.	Alphanumeric	A new rate card will be created.

All fields containing monetary values must correlate (or financials will not be accurate):
- Daily Rate = Hours per day x Hourly Rate
- Monthly Direct = Daily Rate x Days per month
Rate cards with the same Classification cannot have overlapping date ranges. When assigning rate cards to resources, rate cards with the same Classification are only listed once for selection. The rate card applied depends on which date range the allocation or time booked falls into.
Apply Capped Hours (Y. IsCapped) and Apply Daily Rate (AA. IsDailyRate) cannot be set to Yes at the same time. Only one or the other can apply.