Decide when creating a user how much they will be charged by selecting an Item type or Billing rate for them. Item types are used when creating cost estimates or tax invoices and act as the line item. If all is setup properly then you can get very in-depth reporting on the breakdown of where time is spent.
Follow these steps to create an item type or billing rate (Screenshots below):
Hover your mouse over Finance
Click on Item Types.
Click on New Item Type.
Fill in the information.
- If you have multiple billing entities, you can specify specific codes for these under the "New billing entity specific codes
Alternatively, Item types can be imported via the Import Suite.
See the screenshots below:
The following options are available when adding Item Types:
External name: Use a different name visible to the client on your generated PDF's.
Order Code: Specify a custom order code to display your item type in reports and list views
Company Cost: The amount you are paying the resource per day or hour.
Billing Rate: The amount you're charging the resource out at
Markup: For externally sourced products/services, set the markup you are adding in before selling.
Sales Code: Code used by Pastel/Xero to match the sale item types set up in your accounting platform
Cost of Sales Code: Code used by Pastel/Xero to match the sale item types set up in your accounting platform
Zero Rated Sales Code: Code used by Pastel to match the sale item types set up in your accounting platform
Zero Rated Cost of Sales Code: Code used by Pastel to match the sale item types set up in your accounting platform
Category: Indicate the category of the item type e.g Inventory (physical item), hours (hours used by resources), subscriptions or other.
Department: If this item type applies to any department in your company, select it from your available departments in the list.
Tax Type: Choose tax type from dropdown menu.
Billable by default: Tick the tick box if this must be the user's default billing rate.