The Rate Sheet is the foundation for how ToolWatch calculates Job Cost and Billing charges for tools, equipment, and materials. Each row on the sheet represents a Model Record, and each column defines how a specific rate is applied.
ToolWatch uses Rate Sheets to:
Determine your internal cost recovery (Job Cost tab)
Determine how much you charge internal or external customers (Billing tab)
Understanding how to read and edit the Rate Sheet interface is essential for accurate cost tracking and billing setup.
What You'll Learn
In this article, you'll learn:
The difference between the Job Cost and Billing tabs
How each row maps to a Model Record
How line items load dynamically
What each top menu option does
How to properly navigate and edit cells in the Rate Sheet
1. Job Cost vs. Billing Tabs
Each Rate Sheet has two tabs:
Job Cost — shows what it costs your company to provide a tool or material.
Billing — shows what you charge your customers (internal or external) to use that tool.
Both tabs are:
Structurally identical
Configured separately
Accruing data independently
The Job Cost tab calculates internal cost recovery. Each row represents a Model Record, and the columns define how charges will be applied.
The Billing tab has the same structure but calculates chargeable revenue instead. Each field can be independently configured.
2. Each Row = One Model Record
Each horizontal row represents a Model Record from your tool or material catalog. This means:
Rate rules apply to all items sharing that model.
Charges will apply dynamically based on the model used in a project.
Example: If you have 50 generators of the same model, and your Rate Sheet sets a daily rate of $100, then all 50 generators will be charged at $100/day when assigned using this Rate Sheet.
3. Line Items Load Dynamically
ToolWatch automatically pulls in your Model Records whenever a Rate Sheet is opened. This means:
New Model Records appear automatically (no manual entry required)
Deleted models are removed
Descriptions update from the Model Record, but Base Value stays fixed once a Calculation Method is applied
🔁 To refresh a Rate Sheet with new models, simply open the Rate Sheet again.
4. Top Menu Options
Button | Description |
Save / Save and Close | Save your progress or exit |
Add/Delete Related Charge | Add or remove additional line-specific charges |
Export / Import from Excel | Manage large rate changes outside of ToolWatch |
Set Rate Sheet Rules | Apply rules for rounding, rate thresholds, or calculation logic |
Base Rate Recalculation Method | Choose between Percent Based or Rate/Charge Based recalculations |
5. Navigation and Cell Entry Tips
To ensure your rate entries are applied correctly, follow these best practices:
Use the Tab key to move forward through the sheet
Do not use Enter or arrow keys — this can interrupt your data entry
After typing in a rate, Tab out of the field to activate the update
Avoid currency symbols, commas, and percent signs — enter only numeric values and decimals
✅ Enter: 0.057
❌ Avoid: $0.057, 5.7%, 0,057To disable a field:
Uncheck its related checkbox, or
Enter a value of 0
🧠 Tip: Highlighted values will appear in blue when selected — this is normal and ensures the field is active.