Net Cost is the amount that it costs you to engage a particular classification or material. These costs are used to calculate your Actual Costs Report for your Jobs.
The Net Cost Table will auto-populate with any Classifications or Materials that you have already created, with Classifications appearing first followed by Materials.
Once you have created your Net Cost Table, you can update it as many times as you like. Any changes you make will effect your future time records only
DO NOT INCLUDE OVERHEAD OR MARGIN WITHIN THESE RATES.
Only classifications or materials that have a status of "Active" in the Net Cost Table will appear throughout QicWorks.
Each account can only have 1 Net Cost table.
Click on Business from the main menu, then click on Settings . C lick on Cost Management from the Financial Settings menu. Click on View table from the Net Costs menu.
Editing Your Net Cost Table
Use the above navigation to access your Net Cost Table
1. Click on Update Net Costs from the Actions menu
2. Your Net Cost Table has now opened in edit mode. Simply click in any grey field within the cost Table to edit the rate.
Here you can edit your Classification's abbreviation, Resource Type, Charge rate, applicable NT, 1.5T, 2.0T, 2.5T and Custom Rates. You can also make this Price active or inactive.
Don't forget to click Save to save any changes made