Configuring your rate cards

With rate cards users are able to assign and set standard billing rates based on the roles they create. Tailor rate cards to a specific client, region or project type. Rate cards are used for assigning the correct rate for the project budget. Before creating a rate card, ensure your company's roles have been defined. 

This article covers:

• Creating a rate card
• Editing rate cards
• Adding rate card versions
• Disabling rate cards
• Deactivating roles on rate cards

Creating a rate card

Rate cards define the standard billing rates of your company's roles and are used to determine revenue within your projects' budgets.

To create a rate card:

1. Click Admin in the top bar.
2. Select Finance from the dropdown.
3. Click Rate cards.
4. From the Rate cards tab, click on the New Rate Card button.
5. Insert a name.
6. Pick the currency.
7. Set the default rates.
8. Click Create Rate Card.

Setting a default rate card

You may set a default rate card. This will be the rate card assigned to all newly created projects. 

To set a default rate card

1. Click Admin in the top bar. 
2. Select Finance from the dropdown. 
3. On the Rate cards tab, locate the rate card you want to set as default. 
4. Click the three-dots icon on the right-hand side of the rate card.
5. Select Set as Default from the dropdown.

Editing rate cards

You may edit rate cards as needed, however you may not change the currency of any rate card if it has been assigned to a project. Such changes could include updating the rate card name, changing a role rate or the default rate or adding a rate card version. 

To edit a rate card:

1. Click Admin in the top bar. 
2. Select Finance from the dropdown. 
3. On the Rate cards tab, locate the rate card you want to edit. 
4. Click the three-dots icon on the right-hand side of the rate card.
5. Select Edit.
6. Edit the properties of the rate card in the pop up.
7. Click on Save Changes.

Adding rate card versions

Rate card versions allow you to have multiple instances of the same rate card that will come into effect on a set date. Once set date has been reached, the system will consider the new rates across all projects the rate card is assigned to without impacting historical data. Rate card versions can be particularly useful if your business has regular pricing reviews and updates and you need to issue a new set of rates, or if you need to adjust your rates mid project.

To add a new rate card version:

1. Click Admin in the top bar. 
2. Select Finance from the dropdown. 
3. On the Rate cards tab, locate the rate card you want to version. 
4. Click the three-dots icon on the right-hand side of the rate card.
5. Select Edit.
6. On the left side of the rate card, click +NEW. 
7. Fill in the properties of the rate card.
8. Set the effective date for the new rate card version.
9. Click on Save Changes.

Disabling rate cards

If a rate card is no longer valid, you have the possibility to disable it. A disabled rate is no longer available to be assigned to projects. Disabled rate cards can always be re-enabled by admins.

To disable a rate card:

1. Click Admin in the top bar. 
2. Select Finance from the dropdown. 
3. On the Rate cards tab, locate the rate card you want to disable.
4. Click the three-dots icon on the right-hand side of the rate card.
5. Select Disable.

Deactivating roles on rate cards

Forecast offers the ability to manage the roles specific to projects by deactivating or re-activating them at the rate card level. Over time, roles may become irrelevant due to organizational structure changes and roles used in the past are no longer used, or the roles are relevant to certain types of projects and not used on the project/s at hand. 

Understanding deactivated roles on rate cards

• A role can be deactivated or reactivated in the rate card modal.
• Deactivated roles will not appear in dropdowns for projects using that rate card.
• Any un-invoiced time registered to a deactivated role will use the default rate of the rate card whether the time was registered before or after the role was deactivated in the rate card.
• Invoiced time registrations will not be altered by deactivating or reactivating a role. 
• If a team member is added to a project and their default role is deactivated on the project's rate card, the user will be prompted with a warning/reminder to select another project role for the team member.
• Deactivating a role that has associated project data will prompt a warning requiring the user to acknowledge before proceeding with the role deactivation.
• Financial data other than invoiced time registrations, such as billable time, will change based on deactivating or reactivating a role on a rate card.
• Deactivated roles in rate cards will not appear for selection in New Time Entry form when the Time Management feature "Allow selection of roles on time entries" is enabled. 
• Active/Deactivated role status trumps rate card versioning. A role can either be active or deactivated at any given time within a single rate card. 

To deactivate a role on a rate card

1. Click Admin in the top bar. 
2. Select Finance.
3. On the Rate cards tab, find the rate card you wish to update.
4. Click the three dots on the right side of the rate card and select Edit.
5. Click OK in the warning prompt to proceed and open the rate card modal. 
6. Find the role you wish to deactivate.
7. Click Deactivate.
   1. If there is any existing project data associated with the role, 'This role is used on projects' will be prompted to appear. 
   2. Click Deactivate if you wish to continue or Cancel to escape.
8. The now-deactivated role will appear in the Deactivated Roles section at the bottom of the rate card. 
9. Use Save Changes to submit the changes.

To re-activate a role on a rate card

1. Click Admin in the top bar. 
2. Select Finance.
3. On the Rate cards tab, find the rate card you wish to update. 
4. Click the three dots on the right side of the rate card and select Edit
5. Click OK in the warning prompt to proceed and open the rate card modal.
6. Scroll down to the Deactivated Roles section. 
7. Find the role you wish to reactivate.
8. Click Activate
9. The role will move from the Deactivated Roles section and appear in the list of active roles.