This is the last in a series of four tutorials covering how to add an assignment, and focuses on completing the ‘Costings’ tab.
The ‘Costings’ tab is where you set the candidate's pay rate and the client's bill rate, and the page is split into these two elements. The information defined within this page is used when creating sales invoices to send to your clients and purchase invoices/remittances to provide to your candidate. This page is one of the most important parts of the assignment and attention to detail is essential.
An explanation of the most important fields:
Manual Cost: this box must be ticked in order for you to be able to validate timesheets when they come into the system. As such, it is strongly advised that this box remains ticked.
Pay Rates & Bill Rates: these sections define a host of configurations to prescribe how the candidate (or supplier) pay, and client billing, is calculated. Much of the two sections will mirror each other, with the main difference being the rate value that is paid/billed. The fields within these sections are:
- Currency drop down: fixes the currency that payment/bill will be made in.
- Hourly/ Daily: sets whether the candidate is paid/billed for based on an hourly or daily rate.
- Days of the week: tickboxes selecting which days of the week to assign the current rate set to.
- ‘Add New Rate Set’ button: inserts an additional set of rate configurations to assign to different days of the week. For example, define one rate set for weekdays and another rate set for weekends.
If you have complex rates, please refer to our knowledge base for further guidance here.
- Rate Rule: defines how the rate code will be applied. The first rate must always be a candidate entered rate. For more details on the other options, please refer to the Knowledge Base articles linked to above.
- Rate Code: sets the type of rate that will be applied, using the rate codes entered within the ‘Rate Code Entry’ section. This description will appear on invoices.
- Rate: This is the value per selected unit which you are paying your candidate.
- Non Candidate Entered Pay Allowances: can be used to add candidate allowances relating to the assignment.
That is the first section completed. Now you must complete the second part of the page which relates to client charge.
Following the pay and bill sections is the single field:
Costing Notes: text box (for internal reference only) allows you to put notes relating to the assignment, such as any special preferences the candidate may receive.
Once all of the information has been completed, click on the 'Update' button to save the details. If this is a new assignment, clicking the button will trigger an email to the candidate to confirm they have been set up on the timesheet system and give them their user credentials.
The system will now also create a number of timesheets for the candidate to complete, as and when necessary.