Custom Bill Formula Maintenance

The Rates and Rules Custom Bill Formula functionality allows you to create and maintain two types of formulas:
Bill Rate Formulas – these are custom built formulas that can be assigned to bill rate rules on bill agreements and to bill items in a standard rates matrix on a job order. They allow bill results to be calculated using a custom bill rate formula instead of system-defined margin/markup formulas.
Rate Matrix Formulas – these are custom built formulas that calculate and display a gross profit value in the rates matrix of a job and can be used if FastTrack's standard formula for gross profit does not reflect the way your business calculates gross profit. These types of formulas are used for display purposes only and do not influence bill results.
Each of these custom bill formula types are described in detail below.