"Billable" Labor rates in Job Cost

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Management would like to see our job cost transactions show payroll as a set $ amount per hour as agreed upon by each project owner. These set rates would vary between project. For example, project X would have a billable labor rate for Project Manager of $90 / Hour, project Z would have a billable labor rate for the Project Manager of $100 / Hour. The amounts charged to job cost would be based on the cost code the payroll hours are charged to, ie Project Manager, Project Engineer, Project Superintendent, Safety Manager, Estimating, Project Administrative. The amounts charged would to job cost would not reflect actual payroll or burden amounts.

Currently, i use ODBC to download the job cost transactions to excel, then use a formula to overwrite the amount by taking the units charged to that particular cost code x the billable rate. However, our management would like the cost details reflected in our job cost budget (we use Procore, the job cost transactions sync up). Any advice or guidance would be greatly appreciated.

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    Hi EHPAC,

    Another option would be to create a PR fringe that would calculate the difference between the standard rate and the actual pay rate.  This fringe could be directly defaulted to your 99999 cost code. As previously stated, you could then exclude the 99999 cost code from your WIP to maintain GAAP compliance.

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  • 0

    Hi EHPAC,

    Another option would be to create a PR fringe that would calculate the difference between the standard rate and the actual pay rate.  This fringe could be directly defaulted to your 99999 cost code. As previously stated, you could then exclude the 99999 cost code from your WIP to maintain GAAP compliance.

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