Overview
Managing rate sheets manually can take hours, but full automation introduces significant risk. Unchecked automated updates can allow typos or sudden vendor price swings to carry directly into active job billing. The Rate Sheet Wizard solves this by giving you a controlled, bulk-updating workflow where you can preview and verify price variances before committing them.
Any user with standard permissions to view and edit rate sheets in ToolWatch can use the Rate Sheet Wizard; access is not restricted by separate subscription tiers or additional permissions. To maintain billing stability for project managers while keeping pace with fluctuating market costs, the recommended industry best practice is to review and update rate sheets quarterly.
Update Types Defined
Percentage Increase/Decrease: Adjusts current base values across all selected items by a specified percentage. Enter positive numbers to increase rates or negative numbers to decrease rates (for example, 5.25 or -0.20).
Flat $ Increase: Adds a fixed dollar amount to each selected row's current Base Value. This method only supports positive price increases; to lower rates across the board, select Percentage Increase/Decrease instead.
Current Model Base Value: Automatically updates rate sheet base values to match the latest catalog costs stored in ToolWatch. No numeric input is required; models lacking catalog cost records are flagged and excluded automatically.
Last Purchase Cost: Automatically updates rate sheet base values to reflect each model's most recent purchase cost. No numeric input is required; models lacking purchase cost records are flagged and excluded automatically.