Cost Markup Library

The Cost Markup Library enables administrators to establish lists of additional costs that users can apply to Work Order resources. These could be overhead costs like insurance or fees for using specific resources. These lists can then be applied to Work Order Resources, such as Employees, which can, in turn, provide more accurate cost analysis for tasks.

There are three methods for factoring in Cost Markups:

• Percentage - Applies a set percentage of the resource's cost to the total cost for using that resource. Calculated as: (Percentage/100) x Default Unit Cost on Resource Record x Units.
• Fixed Rate - Applies a set amount to the total cost for using that resource.
  • on Subtotal - Adds a set amount of money to the cost of using the resource every time that resource is used on a Work Order.
  • on Unit - Adds a set amount of money to the cost of using the resource for every Unit of work recorded for that resource on the Work Order.

  Example

  An employee makes $10 an hour; however, the agency has to pay taxes and insurance on top of his hourly rate. To track these costs, an administrator creates two Cost Markup records:

  • one to apply a 2 percent tax rate, and
  • one to apply $3 dollars per a hour for health insurance.

  The employee is on-call; so, the agency must pay a $10 charge to the employee to use the employee outside of regular hours. So, a third Cost Markup is applied to his Employee Resource record on the Work Order.

  The employee works 5 hours on a Work Order Task.

  • Base Pay: $10 x 5 hours = $50
  • Taxes: $10 x 2% x 5 hours = $1
  • Insurance: $3 x 5 hours = $15
  • Surcharge: = $10
  • Total Cost: $50 base pay + $1 taxes + $15 insurance cost + $10 surcharge = $76

  So, while the employee is paid $60 for his work, the total cost to the agency is $76.

Common Tasks 

To open the Cost Markup Library module, select Work > Administration > Cost Markup Library.

How to create a Cost Markup Library

How to load a Cost Markup List