A Rate Schedule is a group of shifts and applicable rates that allow buyers to configure logic into their rate structure. They allow complex rates to be assigned to specific positions and assigned to workers so they can be automated in time sheet calculations.
A Rate Schedule in Action
To demonstrate how a rate schedule would impact various time sheets, let’s look at a few examples.
Rate schedules require what are called Rate Rules in order for them to perform the appropriate calculations. Rate rules are a set of detailed logic that drive rate and time sheet behavior. For example, on Joe’s time sheet, a rate rule is what determined how hours worked over the standard day would be allocated as overtime.
Once rate rules are configured, they are associated to rates on the rate schedule.
Rate schedules are then assigned to Job Postings so subsequent work orders will adhere to the rate and time sheet logic.