What is a Cost Rate?
Cost rate can be used for recording the rate you will pay to a Subcontractor or for attributing revenue from a job to a vehicle, particularly when multiple vehicles are used to deliver a job.
Cost Rate is a field which needs to be enabled by the MyTrucking team.
When enabled, the Cost Rate and Cost Totals will show on the Add and Edit job pages.
Billing Cost Rates versus Activity Cost Rates
A Multi-leg job is made up of a "Billing Line" and one or more "Activity Lines".
For a single-line job, the billing line and activity line are the same, but for a multi-leg job, the "activities" are the individual legs that each vehicle performs.
The Daysheet displays activities.
The Invoicing pages, Custom Reports or Find Jobs, display the Billing line.
The Cost Rates are applied at the activity level, so each leg can have a separate Cost Rate. At the Billing level, the Cost Rates are added together and the total Cost Rate is displayed.
In this example job, the Cost Rate for each leg has been entered, and the total (4.50) has been calculated and displayed on the billing line.
How do I use Cost Rate?
A new origin and destination combination will require the Cost Rate to be manually entered.
The Cost Rate will be automatically populated with the same rate as a previous activity that has the same origin and destination.
If required, a "Fixed Cost Total" can be entered. This functions in the same way as a Fixed Price job, the Total is entered (or filled from the previous matching activity) and the rate is calculated by dividing the Total by the quantity.
If you wanted to have the cost rate as a percentage, you can add the percentage in and the field will calculate.
How can I report on Cost Rate?
Cost by Vehicle
Once Cost Rate is enabled, you will see a new report called "Cost by Vehicle" on the reports menu. This report is "Activity" focused, so will display information for all activities (individual legs).
This makes it a quick and simple report to run to identify the amounts allocated to a vehicle or subcontractor.
Custom Reports
You can run a Custom Report and include the Cost Rate and Total. It is important to realise this value is at the Billing Line level, so if a job is made up of multiple legs, it will be the sum of all legs that are displayed.
🗒️ Related Articles
Cost Rate may be a chargeable feature in the future.
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🔑 Keywords: Subbies rate, subcontractor rate, sub contractor rate, sub-contractor rate, apportioning