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.|
|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.|