Each calculation method applies required and optional rate groupings relevant to the selected method, Calendar, Assignment, and Hourly Usage, to apply job cost and billing charges to items assigned to locations. Rate groupings work in tandem so that a single value will calculate and apply the related rates associated by the grouping.
For example, if an item with a base value of $188 on the rate sheet has a value of 90 entered in the Initial charge% cell, the rate sheet will auto calculate 90% of 188$ and apply a value of 169.20 in the Initial Charge cell as a result (see images).
There are two types of rate groupings:
Required Rate Groupings - these are the required rates in order for the selected calculation method to function effectively. Once a calculation method is selected the cells beneath the Required Rate Grouping Headers will open up so values can be populated by the user.
Optional Rate Groupings - these are optional rates applied in addition to the required rate groupings based on the calculation method selected. Once a calculation method is selected, the cells beneath the available Optional Rate Grouping Headers open up so values can be entered by the user.