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Job Order - Updating Parity Rates Against Standard Rates

FastTrack360 Version 12 Online Help

Job Order - Updating Parity Rates Against Standard Rates

Description

It may be the case that the parity rate is not known at the point the job order rates are added and FastTrack360 must have all rates applied when creating/editing the rate set.

The parity rate can be edited up until the point the job order has reached parity. This is because the parity rate is not yet used in a timesheet. As soon as the job order reaches parity for the first time (a job order can drop out of parity if the payee has not worked for more than 6 weeks in that job), the parity rate cannot be edited.

To edit a parity rate where the job order has not reached parity, follow the procedure below:

Step

Description

 

Step

Description

 

1

In the Standard Rate section, if the job order has not reached parity (the Parity Rates Active From field will be blank), the Edit Rate Set button will be enabled. Click the button.

image-20240122-143744.png

 

2

The Parity Pay Rate field will be enabled. Edit the value as desired.

image-20240122-143855.png

 

3

Click Save.

 

Where a job order has reached parity, and therefore the parity rate has already been used, the Edit Rate Set button will be disabled. You will need to:

  • Add a new rate set.

  • The system will not automatically calculate what should have been paid to the timesheet period that should have been at the parity rate. You will need to work out the difference and manually apply to a manual invoice or a credit/rebill process for the billing aspect and add a manual item to the payroll pay batch process.

Benefits

Allows for the application of parity rates to be applied prior to reaching parity.

Configuration

The AWR Active flag should be checked on, to be able to manage the parity rates.

 

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