Understanding Rate Groupings
Rate groupings in ToolWatch work in tandem, allowing a single value to automatically calculate and apply related rates. These groupings apply job cost and billing charges to items assigned to specific locations based on the method you select: Calendar, Assignment, or Hourly Usage.
How They Work
When you select a calculation method, the specific cells associated with that method's rate groupings will unlock for data entry.
Required Rate Groupings: These are the essential rates needed for your chosen calculation method to function effectively.
Optional Rate Groupings: These are additional rates you can apply on top of the required groupings to further customize billing.
Pro-Tip: If you see "greyed out" or locked cells, ensure you have first selected a Calculation Method. Cells beneath the grouping headers only open for population once a method is determined.
Automated Calculation Example
The rate sheet uses the Base Value of an item to drive automatic calculations within a grouping.
Example:
An item has a Base Value of $188.00.
You enter 90 in the Initial Charge % cell.
The system automatically calculates 90% of the base value.
A value of 169.20 is automatically applied to the Initial Charge cell.
Rate Grouping Logic Flow
Step | Action | Result |
1 | Select Calculation Method | Required and Optional cells unlock for entry. |
2 | Enter Value in a Grouping Cell | The system identifies the related "tandem" cells. |
3 | Automatic Calculation | The related rate is calculated based on the Base Value. |