With Skylight you can assign rates for your services, equipment, people and locations i.e rooms. Think of this more like a rate card that is split between what you charge for the resource to a client(CHARGE) and what your company also pays for that services(COST).

To start creating your rate card, select drop down on RATES tab, on the next screen you have option to fill in the following fields about your rate.

TITLE: Short name for the rate, possibly names after resources they apply to.

RATE UNIT: what unit to use in quantities, you have two option number or time which is calculated by differance between start and end date/time.

COST TO CLIENT: What amount is used to the client.

COST TO COMPANY: What payment is made from your company to provide the service. For companies who dont have to buy in products or services this can be an internal company overhead based on quantity or time.

OVERTIME: If time is selected in the RATE UNIT field then you can use the overtime option that provides two more options to enter what amount to charge and after how many hours.

Rates and Accounts:

Further down on this screen you have the option to relate charge and cost sides to different accounting codes. A time saving feature to enable synergy with your accounting system.

CHARGE ACCOUNT & COST ACCOUNT: Optional fields to specify which accounting codes and tax charges to use. Very useful feature if you use another accounting package like Sage, Quick books or MYOB.

CHARGE TAX RATE & COST TAX RATE: These are the user defined taxes, we are a UK Company so have used the UK Standard VAT options, but you can change them in Chart of accounts tab in business settings. http://secure.skylightit.com/accounts