How to Use Rates
What are Rates?
With Skylight you can assign Rates for your services, equipment, people and locations i.e rooms. Rates are split between what you Charge to a Client and the Cost to your company for that service.
Though you can enter this information manually when making a Booking, by setting predetermined Rates you can save yourself lots of time in Budgeting and Invoicing.
So... How do I create a Rate?
- Click on the Rates tab at the top of your Skylight navigation bar.
- Click on +Add Rate
- Now you're taken to the Rate form.
- Give your Rate a Title. Good examples might be: "Basic Day Rate", "Room Booking Rate", “Consultation Fee”, or "Special Season Discount Rate"
- Next choose a Unit for your Rate. Is this Rate per hour/day/week or unit?
- Defining Charge to Client and Cost to You
Charge to Client
Enter the amount you will Charge a Client at this Rate and the Cost
to You when using the particular Rate for booking Resources.
Optional:
Overtime: Select Overtime if this Rate will be applied for
time-based billing (rather than a unit Rate). If you click on
Overtime you will be able to enter the overtime Rate per hour and
define after how many working hours the Overtime Rate will kick
in.
Charge Account: Choose the appropriate Sales Account Code from the drop down menu. If you haven’t set these up during the Setup process then do so now: http://secure.skylightit.com/setup/chart_of_accounts. You can choose a standard set of Codes or define your own.
Charge Tax Rate: Choose the appropriate Tax Rate from the drop down menu. If you haven’t set these up during the Setup process then do so now: http://secure.skylightit.com/setup/tax_rates
Cost to You
Now, enter the amount this rate will Cost to You when using that
particular Rate for booking Resources. This is the Cost incurred
when supplying this service, Resource or personnel.
Optional: Overtime/Charge Account/Tax Rate
You wont need to do this that often if you set your most commonly used rates for different Resources and types of Bookings. Rates are invaluable in calculating Budgets and Invoicing. For more information on how to use Rates in a Booking see the FAQ on Bookings.