Labor Cost Rate Entry Form

Labor Cost Rate Entry Form

To open the Labor Cost Rate Entry form, click Setup in the shortcut or drop-down menu, then click on Lists, then click on Labor Cost Rates.

The Labor Cost Rate form allows you to create Labor Cost Rates. Labor Cost Rates are used in the Employee entry form, the Resource entry form, and in the Labor Hours entry form.

Labor Cost Rates are used to calculate actual job costs from labor hours entered. Note that the burdened labor cost rates include taxes, insurance, benefits, etc., for various types of labor.

You can assign one or more Labor Cost Rates to each employee in the Employee entry form.

When you assign Labor Cost Rates to an employee, those cost rates appear in the list of labor cost rates available for that employee when you enter labor hours for that employee. When you select a labor cost rate, that cost rate is used to compute the actual labor cost.

Aside from the standard prompts available on all forms, the Labor Cost Rate entry form has the following prompts:

Labor Cost Rate:

Enter the name of the Labor Cost Rate.

Short Name:

Enter an abbreviated name for the Labor Cost Rate. This is used in places where there is not enough room to display the full name.

Cost Rates:

The Cost Rate grid allows you to enter a separate labor cost rate for each payroll item. These are the burdened labor cost rates and will be used in determining your actual labor costs when you enter labor hours in the Labor Hours entry form.

If you are using QuickBooks Integration, the list of payroll items comes from QuickBooks. If you are not using QuickBooks Integration, the list of payroll items is pre-defined by Smart Contractor.