TimeControl Rates Capabilities
TimeControl's Rates Architecture is the most flexible in the industry and it must be because TimeControl is used for different purposes simultaneously. It is a key differentiator over other timesheet options.
There are many aspects to how TimeControl Rates can be configured but the first thing that's important about TimeControl Rates Click here to see a full-size image of the TimeControl Rates Table is knowing that there is no limit to the number of Rate Codes per employee that can be defined, that there is no limit to the number of rates that can be maintained in TimeControl and that for each and every Rate Code, you can store multiple values. Rates in TimeControl can be defined globally, at the resource or employee level and using a combination of functions in TimeControl such as Rate Filtering, you can show only those rates that are appropriate to a particular situation.
It's easier to think about TimeControl Rates capabilities in terms of what problems they can solve. Because of multiple values, TimeControl Rates can be used to track both internal costs and external invoicing values at the same time. You could have for any hour of time recorded, a cost based on that time that has one value for the internal cost to go to payroll or job costing another value for extenal pricing that would go to invoicing and a third to go back to a project management system using an average project rate. Click here to see the TimeControl Rates Tutorial Because of our unlimited rates per person structure, you could have a resource work at one rate on one project, and another rate on a different project in the same day. You could track unpaid overtime and even though you have no extra actual cost today, you could still invoice the work recorded.
There are so many scenarios where Rates play a part of timesheet data that making the TimeControl rate structure flexible was a must. Some organizations must track burdens on labor cost distinctly. Some organizations must track salaried costs in one context yet bill all the hours the salaried people did in another. Some organizations must track regular time and then multiple kinds of overtime at time and a half, double time or other rate variations. All of this is possible with TimeControl and TimeControl Industrial. To find out more on how rates work in TimeControl, see the resources below.
Creating your TimeControl Rate structure Whitepaper
TimeControl's Rate functionality is a remarkably flexible and powerful set of configurable functions that enable one of the most adaptable rate environments in the industry. TimeControl and TimeControl Industrial allows unlimited rate codes, multiple rate values per code, rates that are specific to individuals, resources and groups and so much more. This tutorial gives new and existing TimeControl administrators a tutorial on how to create a rate environment for their particular business requirements with information on each of the Rate building blocks in the system.Open WhitePaper