You can add, delete, and update the effective date of the hourly labor rates for person-type resources (employees). You also can define multiple hourly labor rates for the same employee, as long as each rate has a different effective date.

If you use actual costing, the hourly labor rate rather than the standard rate is used to compute the actual cost of person-type resources charged to discrete jobs and repetitive schedules. You can enter an employee number when performing a person-type resource transaction in the Resource Transactions window or the Resource Transaction Open Interface process. The employee's most current hourly labor rate is used to compute the actual cost of the transaction.

Prerequisites

• Enter at least one employee. See: Employee Management.

   To define or update the hourly labor rate of an employee:

1. Navigate to the Employee Labor Rates window.

2. Select the employee Name or Number.

3. Select the Effective Date for each hourly labor rate.

   The hourly rate remains effective until the next effective date or until the inactive date of the employee. You can only update or delete future effective dates.

4. Enter the Hourly Labor Rate for the employee.

   You can define multiple hourly labor rates for the same employee as long as they have different effective dates. You can define a labor rate to the smallest currency denomination. For example, you can define a US dollar rate to the penny. You can only update or delete future labor rates.

5. Save your work.