Rate Card & Rate Card Versions Best Practices

Rate Cards are used to set up pricing scales and controls for Jobs and Placements. Rate Card Versions allow flexibility by adding new rate information while still having a record of previous rates. See our Rate Cards section for additional documentation.

• Understand Rate Flow Down:
  • Rates flow down from the Company record to the Job record, assuming the Job was created after the client rates were entered on the Company record.
  • Rates flow down from the Job record to the Placement record, assuming the Placement was created after the rates were entered on the Job record.
    Top Rate Card Tip: Flow down only happens once, upon record creation. For example, any updates made to the rates on the Job will not impact existing Placements.
• Understand when to edit Rate Cards vs. create new Rate Card Versions:
  • Edit a Rate Card when you need to re-evaluate all time logged under the rate card since the effective date. This will impact historical data.

    You would edit the existing Rate Card for the following scenarios.

    • A rate needs to be updated and the placement has not logged any time under the rate card yet.
    • A placement started two weeks ago and they've been logging time. You realize a rate on their Rate Card has been incorrect for the entirety of the placement. Edit the Rate Card to trigger a re-evaluation of all the time logged on the placement with the new rate, correcting the error.
  • Create a new Rate Card Version when you need to add a new earn code to the rate card or have a rate change set for a particular date in the future.

    You would create a new Rate Card Version for the following scenarios.

    • A placement has just become eligible for PTO hours according to your companies standards. You need to add a PTO Earn Code to their Rate Card so they can enter PTO hours. You would create a new a new Rate Card Version with the appropriate effective date to ensure all historical data is accurate and allow the placement access to the PTO Earn Code going forward.
    • A placement has worked a particular job for three months, earning them a raise. Their new hourly REG rate needs to be updated on a particular date. You would create a new Rate Card Version with the appropriate effective date to ensure all historical data is accurate and pay the placement appropriately going forward.
• Rate Cards have a natural end date based on the start date of the new version. They cannot be marked as inactive, as they all stay active to be used if late time is submitted or adjustments are needed.