Setting Rates

Abstract

How to set team member rates, flexible rates and global rates

When you create a Cost Tracker project, the default role rates that were previously set for the team members will be used to calculate the costs of each team member's work. If you haven't set up a default role rate for a team member, then the default hourly rate will be applied. It's a good idea to set up default role rates for your team member roles so that you can quickly create your Cost Tracker project without wasting time entering a default role rate for team member.

Warning

Cost rates are defined at the project level and can only be viewed by a project owner or collaborator. A Jira Administrator can only view the cost rates of a Cost Tracker project if they are the owner or collaborator of that project.

Setting Team Member Rates
To define team member rates:
  1. Click Configuration in the upper-right.

  2. Select Roles & Rates on the left.

  3. Set any of the following rates:

    • Hourly Cost Rate: This rate is initially applied in the project for roles with undefined rates. When a team member logs time for the first time, the default rate is automatically applied.

    • Role: A role to the individual team member. The rate assigned for this role in Global Rates is displayed. If you change the role to one that is associated to a different global rate you will be notified to accept it or to leave the rate unchanged it. The last role assigned to a team member is remembered.

    • Cost Rate: This hourly rate is for the team member who has logged time on your project. It is populated with the global rate setting for the selected role, where applicable. If you wish to change it you can overwrite the Cost Rate value with the new rate.

      This rate is then used instead of the Default Hourly Rate for this team member. All hours logged by this team member are calculated with this rate regardless of when you added it.

Tip

Revenue Tracking lets you add a Billing Rate to logged hours - see Tracking a Project's Revenue for information.

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Setting Flexible Rates

A project owner can specify different flexible rates to team members. Multiple rates are assigned to one team member with set effective dates. For example the cost and billing rates might be updated for team members working on a project due to role assessments or changes to the project's scope. The updated rates are listed to track the changes from the start of the project. These rates have an immediate impact on the the work log when the effective dates are reached, including cost, billing and revenues.

Here's a quick look at how to add rates with effective dates:

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To add new rates with effective dates:

  1. In Cost Tracker's Project List, open a project.

    The Overview tab is selected by default.

  2. Click the Configuration tab in the top-right, then select Roles & Rates on the left.

  3. Expand a team member's name to view their rates.

    ct_flex_rate.png
  4. Click the + at the right end for the team member to add a new rate.

    The initial rate is displayed to indicate the rate that was set at the beginning of the project. The initial rate can be derived from the global rate inherited from the assigned role.

  5. In the Add Effective Date dialog, select an Effective Date for the new rate.

    ct_Effective_save_small.jpg
  6. Enter the Cost Rate and the Billing Rate (where applicable). The Billing rate can be left blank, however the Cost Rate is mandatory.

    The Billing Rate is available only when Revenue Tracking is set for the project.

  7. Click Save when done.

  8. The new flexible rate is added to the list of rates. When the Effective Date is reached, the rate is labeled Current in the list.

    The flexible rates are applied to each worklog where the date is matched and is effective on the worklogs' date.

  9. Click the Team tab to see the effect of the current rates on the cost, billing and revenues. The worklogs are calculated based on the effective dates.

To edit flexible rates:

Team members names are displayed with the current rate in the collapsed Roles & Rates list. You can expand the list to make the required edits. Flexible rates are displayed in the Roles & Rates table for the current team member. The current rate is displayed in the collapsed list.

  1. Click to expand the team member name in the Roles & Rates table and view the list of rates.

  2. To change the Role of the team member:

    1. Select a new Role from the list of predefined roles.

    2. If Global Rates are set for the new role, you are prompted to accept them or reject them.

      Note: If you accept the predefined global rates, all other rates previously defined for the team member will be erased from the list.

  3. To change the Effective dates :

    - Select a flexible rate in the list and click in the Date column to reassign an effective date.

  4. To make inline changes to the Cost rates and the Billing rates:

    1. Click on the rate in the Cost Rate column to edit the Cost rate.

    2. Click on the rate in the Billing Rate column to edit the Billing rate.

      Note: If the Billing rate is left empty, the value is populated with the last used value.

      ct_flex_add.png
  5. Scroll down the list of rates to make any additional changes.

To delete flexible rates:

Unused flexible rates can be deleted for team members and their worklogs are immediately adjusted based on effective dates.

Note

The Initial rate cannot be deleted.

  1. Click to expand a team member's name in the Roles & Rates table and view the list of rates.

  2. Click the delete icon on the right-hand side of the rate you wish to delete.

  3. Click to accept the confirmation message.

    The rate is deleted from the list and the team member's worklogs are adjusted.

  4. If the Current rate is deleted, then the team member's worklogs are adjusted as follows:

    1. If there are more than one rate, then the worklogs are calculated based on a rate with a previous effective date.

    2. If there are no other rates, then the worklogs are calculated based on the Initial rate.

    3. If no Initial rates were set for the team member, then the worklogs are calculated based on the Default Hourly Rate set for the project.

  5. Click the Team tab to see the effect of the deleted rates on the project worklog for this team member.

Setting Global Rates for Team Roles

You can set global rates for each team role in the Global Settings. When assigning roles to individuals in projects or teams, the global rates are applied automatically for each individual. Cost rates and Billing rates can also be overwritten at the project level, where necessary.

To define Global rates:

  1. On the home page, click Global Settings in the upper-right.

  2. The Role Rates table is selected to display the roles and their assigned rates.

  3. Define the Cost Rate and the Billing Rate for each Role Name in the Role Rates table.

    CT_GRates_settings.png

    The rates are defined for the each role at the application level and applied wherever the roles are assigned to team members. These rates can also be overwritten if necessary.