ToolWatch Rate Sheets include a wide variety of columns, each with a specific purpose. This guide explains every field available on the Job Cost and Billing tabs of a Rate Sheet, including:
Fields that are always visible (non-grouping)
Fields required by specific Calculation Methods (including time-multiplier and flat-rate calendar methods)
Optional fields that control additional charges, credits, or limits
Each row on the Rate Sheet represents a Model Record, and each column defines how charges are calculated or displayed for that model.
What You'll Learn
In this article, you’ll learn:
The purpose of each column on a Rate Sheet
Which fields are required based on the Calculation Method
How Calendar Flat Rate utilizes Daily, Weekly, and Monthly rate fields
How optional groupings enhance cost control
Best practices for entering and activating fields
Column Categories
Rate Sheet fields fall into three main categories:
Non-Grouping Headings – Always visible and not tied to calculation groupings.
Required Groupings – Mandatory fields needed for a chosen Calculation Method to function.
Optional Groupings – Used to control, cap, or modify charge logic.
Non-Grouping Headings (Always Visible)
These columns display core catalog and identifier details for each model record.
Field | Description |
Category | The model’s category (pulled from the Model Record). |
Item Description | The description of the tool, equipment, or material. |
Model | The tool’s model number. |
Model ID | The Model ID information found on the Model Record. |
Do Not Charge | When checked, disables all charge calculations for this row. |
Base Value | The foundational reference value used in rate calculations. Pulled from the Model Record before a Calculation Method is selected. Once a method is assigned, Base Value locks and must be edited manually on the Rate Sheet. |
Tip: "Do Not Charge" overrides all other rate logic for that row.
Required Groupings (Based on Calculation Method)
These fields are mandatory when using a specific Calculation Method.
Field Grouping | Fields | Used With |
Initial Charge | Initial Charge %, Initial Charge | Assignment Method |
Hourly Usage Rate | Hourly Usage Rate %, Hourly Usage Rate | Hourly Usage Method and Calendar (Minutes or Hours) |
Daily Rate | Daily Rate %, Daily Rate | All Calendar Methods (Calendar Days/Hours/Minutes & Calendar Flat Rate) |
Weekly Rate | Weekly Rate %, Weekly Rate | All Calendar Methods (Calendar Days/Hours/Minutes & Calendar Flat Rate) |
Monthly Rate | Monthly Rate %, Monthly Rate | All Calendar Methods (Calendar Days/Hours/Minutes & Calendar Flat Rate) |
Field Logic Notes:
Percentage vs. Flat Amount: Enter either a % of Base Value or a flat dollar amount—ToolWatch calculates the tandem field automatically.
Time-Multiplier Calendar Methods: Rates can be calculated as percentages of Base Value or hourly/daily multipliers.
Calendar Flat Rate Method: Requires exact fixed dollar amounts entered in the Daily Rate, Weekly Rate, and Monthly Rate columns. When assigned equipment crosses a global migration threshold, ToolWatch applies that exact flat rate for the period.
Optional Groupings (Enable Additional Charge Logic)
Optional groupings allow deeper control over how and when charges are applied. They activate only when their corresponding checkbox is selected.
🔹 Idle Rate Grouping
Used With: Hourly Usage Method.
Fields: Use Idle Rate (checkbox), Idle Rate %, Idle Rate Per Hour.
Description: Charges an hourly rate for assigned equipment during hours when actual operating usage was not logged.
🔹 Maintenance Rate Grouping
Used With: Time-Multiplier Calendar Methods and Hourly Usage.
Fields: Use Maint. Rate Item/Job Charge, Promote to Maint. Rate at % / $, Maintenance Rate % / Per Hour.
Description: Promotes equipment to a maintenance charge rate once accumulated usage or job charges hit a defined threshold.
🔹 Return Credit Grouping
Used With: Assignment Method.
Fields: Return Credit %, Return Credit.
Description: Applies a partial or full credit when a assigned tool or material is returned or reassigned.
🔹 Minimum Charge Grouping
Used With: All Calculation Methods.
Fields: Use Minimum Charge (checkbox), Min. Charge %, Min. Charge.
Description: Guarantees a minimum billing floor. If the calculated charge for an assignment falls below this threshold, ToolWatch applies the flat Minimum Charge instead.
🔹 Maximum Charge Grouping
Used With: All Calculation Methods.
Fields: Use Maximum Item Charge, Use Maximum Job Charge, Max. Charge %, Max. Charge.
Description: Caps total accrued charges to prevent overbilling.
Max Item Charge: Caps lifetime charges earned by a specific unique tool across all projects.
Max Job Charge: Caps charges billed to a specific Cost Center for a single job assignment.
🔹 Loss Charge Grouping
Used With: All Calculation Methods.
Fields: Use Loss Charge, Loss Charge %, Loss Charge, Charge Net Loss.
Description: Generates a replacement charge when a tool is marked as retired or lost. Checking Charge Net Loss automatically subtracts any usage charges already billed from the final loss fee to prevent overcharging.
Accounting & Default Fallback Fields
🔹 Cost Code Column
Used With: All Calculation Methods.
Description: Sets a default Cost Code for the model row. If field staff leave the Cost Code blank on a Transfer Ticket header or line item, ToolWatch uses this Rate Sheet Cost Code as a backup fallback so charges never go untagged.
🔹 GL Account Columns
Used With: All Calculation Methods.
Fields: GL Charge Account, GL Credit Account.
Description: Maps job costs (expense) and billing (revenue/offset) to your corporate accounting or ERP general ledger accounts when exporting posted transaction data.
Field Entry Tips
When entering values in Rate Sheet fields:
Use the Tab Key: Always press Tab to move forward between cells and lock in values.
Enter Pure Numeric Values: Do not type currency symbols ($), commas (,), or percentage signs (%).
✅ Correct: 0.05 or 75
❌ Avoid: $75.00, 5%, 0,05
Disabling Fields: Uncheck the grouping checkbox or enter 0 to clear/disable a charge logic field.