FastTrack360 Version 12 Online Help

Bill Agreement Rate Rules - Addition of AWR Parity Rate

Owned by Miriam Cox
Last updated: 01 May 2024 by Fiona Sims
2 min read

As job order rates could be defined by a pay agreement, the parity rate would need to be applied in the agreement.

Field

Description

Rules

Field

Description

Rules

Bill Rate Rules

Parity Rate

A field to capture the parity rate for the agreement.

  • The Parity Rate field will be visible when the Country Hierarchy AWR Active flag is checked on.

  • The field must be entered with a value.

  • It is most likely that the Margin Markup Type will be the same value for the parity pay rate as for the pre-parity rate e.g. your margin is 12.5%. The percentage will be based on the job order’s parity rate when they reach parity. This just gives you the opportunity to decide if you want to increase your margin when a job order reaches parity.

  • The Parity Rate field is not enabled where the Margin Markup Type is Use Other Rate Dollar Margin or Bill Rate Formula.

  • The Parity Rate value cannot be less than the bill rate value.

The Parity Rate field will be enabled to edit from between the date your system is upgraded to the date the next interpretation occurs that uses the agreement to allow you to avoid creating a new validity period.

However, if you do update the parity rate to something different and a payee has reached parity already, the system will assess those timesheets and adjust the pay automatically, which may not be the desired result.

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Benefits

Allows Parity Rates to be assigned to agreements.

Configuration

The AWR Active flag in Country Hierarchy would need to be checked on.

Classification-Public