FormerMember

Labor rate table - create or update - standard practice?

Posted By FormerMember

What is the standard practice for creating/updating labor rate tables?  Do you create a new rate table every time rates change (we do annually) - or do you just update the current table with the new rates?  I'm new to Sage so looking for advice on how to approach this.  The previous users have different rate tables going back 5 years, I was just curious if that was necessary as there doesn't seem to be an easy way to change all subitems on the contract easily without going into every contract and every subitem to switch to a new rate table.  So was considering just overwriting the current table (or find a way to copy the current table and rename it for historical purposes and then just update the rates on the current table that is already linked to all of the contracts & subitems.

  • 0

    Hi Sophie,

    You can click Save As on your existing rate table and save it with the same table ID but new effective date. The system will automatically start using the new rates when generating WIP entries that fall after that new effective date. This way you don't have to change anything on your existing contracts to start using the new rates.