Timecost Setup

The Timecost Setup module is used to establish options for calculating time costs for the Employee and Equipment resources used to complete Work Orders. Time Costs can be calculated in two ways:

• Multiplier Time Costs apply a multiplier to the resource's Unit Cost. This strategy is useful for calculating time-and-a-half or double-time. There are several multiplier time costs built into the system by default.

  Example: An employee is normally paid $10 an hour. Any work time in excess of 40 hours per week is considered paid overtime, which is compensated at 1.5 hours of pay for one hour of work (time-and-a-half). The "Overtime" Time Cost option multiplies an employee's Unit Cost (here, her hourly rate) by 1.5 before multiplying it by her overtime hours.

• Straight Time Costs set a flat rate that overrides the resource's Unit Cost. This strategy could be used to establish a fixed pay rate, like those some organizations apply to on-call work.

  Example: An employee is normally paid $10 per hour. However, the employee is also on-call two days per month. Should they be called in, they are paid a straight $25 per hour for their on-call work. The straight "On Call" Time Cost multiplies their on-call work hours by $25.

 

More information about Work Order costs

 

Common Tasks

To open the Time Cost Setup module, select Work > Administration > Timecost Setup.

How to add a custom Time Cost based on a Multiplier

How to add a custom Time Cost based on Straight Time

Timecost Fields

Time Code **	Represents the user-defined ID for the Time Cost option. The following built-in Time Codes have special functions in the Employee Setup and Work Orders modules: 1 Regular Time 2 Overtime More information about built-in time costs
Time Code Text	Describes the type of time that this Time Code option represents (e.g., Standby Time, Overtime, Holiday Hours, etc.). The following built-in Time Code Text options have special functions in the Employee Setup module: External Regular Time OT External Rate More information about built-in time costs
Multiplier Units	Sets the value by which a resource's default Unit Cost is multiplied to determine an adjusted hourly cost. This feature is useful in calculating overtime hours. Example:10 $/hr x 1.5 (overtime multiplier) = 15 $/hr
Straight Time Units	Sets a static cost per hour, regardless of a resource's default Unit Cost. This feature is useful in special circumstances, such as when an employee works on standby. Example:25 $/hr
Financial Hour Type	Sets an hour type code that corresponds to an option in the Eden financial accounting system.
External Time Code	Indicates a CDH (Contribution, Deduction and Hour) code from Finance Enterprise.

* Required.
* Must be unique.