TABLE OF CONTENTS

• Access to the Labor Cost Rates Library
• Employee Cost Card 
  • Weekly Cost Rate
  • Employee Cost Rates
• Labor Cost Rates History

Access to the Labor Cost Rates Library

We use Labor Cost Rates Library to store Cost Rates for Employees, Work Order Types and Sites.

To create Cost Rates for an Employee → open the Employee card → click to create Employee Cost → set up Rates.

The reference is accessible for the HR Managers user group and users with administrator access.

Employee Cost Card 

Weekly Cost Rate

Leave blank for any employee paid hourly.

Always specify a Weekly Cost Rate for Salary Employees.

This field is essential if your salary employees are Clocking-In/Out to record their actual hours, but are still being paid salary. This is because variations in recorded hours could erroneously reflect labor costs to your company for an Employee who only costs a fixed rate.

The Weekly Cost Rate allows FCX to record exact hours, but dynamically adjust the employee's Hourly Rate so that, no matter how many hours are worked, the total cost is the same.

Employee Cost Rates

Most companies dynamically calculate Employee Cost Rates based on data automatically synced from your Payroll System.

IF you do NOT use FCX Payroll Sync, you can enter Employee Cost Rates here for your Payroll Items like "Regular Time," "OT," "Sick," etc.

IF you DO use FCX Payroll Sync, you should usually only enter Cost Rates here for "Per-Diem-type" Payroll Items. This is needed to calculate Per Diem cost prior to the Payroll Period being closed.

DO NOT specify a Wage Type for any "Per-Diem-type" Cost Rate entered here, leave it blank. Entering a Wage Type here will create a calculation error!

Labor Cost Rates History

Cost Rates have a validity period. Whenever you adjust the weekly cost rate or make changes in the cost rates table you should specify a date when rates take effect.

You can read anything and everything about Cost Rates in FCX here.