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Rates Setup Guide

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Table of Contents

Overview

 In Beta
Company Administrators can enable the Resource Management: Rate Tables - Company & Project Rate Management beta in Procore Explore. (US 2 | UK)

Rate tables centralize and standardize your labor and equipment rates across all projects.

When you create rate tables, you define cost and billable rates for labor and equipment. You can also define which rates can be overridden at the project level.

Rate tables are then applied to projects and referenced by different Procore tools such as Timesheets and Equipment. They can be viewed in 360 Reporting, Analytics, and within some Procore tools.

Rates can be applied to the following tools:

  • Change Events created from T&M Tickets

    • Rates are configured in T&M Tickets and applied to Labor and Equipment entries. When a Change Event is created from a T&M Ticket, the revenue unit cost in each change event line item is pre-populated based on the rates from the T&M entries.

    • These cost rates are visible in the Change Event in the Change Events tool.

  • Equipment

  • Timesheets

    • Can be applied to Equipment and Labor timecard entries, however they are not displayed in the Timesheets tool.

    • Rates can be viewed in 360 Reporting or Analytics.

Configure Flat Rate Columns

 In Beta
Company Administrators can enable the Resource Management: Rate Tables - Company & Project Rate Management beta in Procore Explore. (US 2 | UK)

Background

To build a rate table, you must first define its columns. Rate columns categorize your rates by type (labor or equipment) and financial purpose: cost rates represent the internal expense incurred by using a resource, while billable rates represent the amount charged to a client.

Additionally, the Allow Project Overrides setting controls flexibility. If enabled, projects can customize the rates assigned from the company level. If disabled, projects must use the rates as-is. Typically, you will keep overrides disabled for fixed internal costs, but enable them for billable rates so projects can adjust pricing to match specific client contracts.

Things to Consider

  • Required User Permissions

  • After you create a rate, the Resource Category cannot be edited.

  • Columns cannot be deleted. However, they can be edited and repurposed.

Steps

  1. Navigate to the company's Rates tool.

  2. Click the configure settings Icon Settings Gear Grey3 icon.

  3. Click Create and select Flat Rate.

  4. Enter the flat rate column information.

    Show/Hide Fields

    • Name. The name of the column.

    • Rate Category. Whether the rate is a cost or billable rate.

    • Resource Category. Whether the rate is applied to equipment or labor.

    • Unit of Measure. The unit of measure applied to the rate.

    • Description. A description of the rate.

  5. Set Overrides and Privacy.

    • Allow Project Overrides. Mark the checkbox to allow project rate admins to override the value for their specific project.

  6. Save the column.

    1. Click Save to save changes made to the column.

    2. Click Save as New Column to create a new column.

       Tip
      To edit columns, select the column and update the information. Then click Save.

 

Configure Calculated Rate Columns

 In Beta
Company Administrators can enable the Resource Management: Rate Tables - Company & Project Rate Management beta in Procore Explore. (US 2 | UK)

Background

To build a rate table, you must first define its columns. Rate columns categorize your rates by type (labor or equipment) and financial purpose: cost rates represent the internal expense incurred by using a resource, while billable rates represent the amount charged to a client.

To handle complex markups, create a calculated column. You can build a custom formula using existing rate columns, multipliers, and other mathematical functions to automatically calculate your rate.

Equipment Example

Equipment Operating Rate = Rental Rate + Fuel Cost + Maintenance Cost

Things to Consider

  • Required User Permissions

  • After you create a rate, the Resource Category cannot be edited.

  • Columns cannot be deleted. However, they can be edited and repurposed.

  • You can only select cost and billable rates that match your calculated rate's unit of measure (UOM).

Steps

  1. Navigate to the company's Rates tool.

  2. Click the configure settings Icon Settings Gear Grey3 icon.

  3. Click Create and select Calculated Rate.

  4. Enter the flat rate column information.

    Show/Hide Fields

    • Name. The name of the column.

    • Rate Category. Whether the rate is a cost or billable rate.

    • Resource Category. Whether the rate is applied to equipment or labor.

    • Unit of Measure. The unit of measure applied to the rate.

    • Description. A description of the rate.

  5. In the 'Formula' section, create the formula for your calculated rate.

    • Click Add and select from the following to add your formula:

      • Cost Rates

        1. Select a Cost Rate with the same unit of measure (UOM) as your calculated rate.

      • Billable Rates

        1. Select a Billable Rate with the same unit of measure (UOM) calculated rate.

      • Custom Multiplier

        1. Enter the multiplier value.

        2. Click Add.

      • Parentheses

        1. Click Add again to select the Cost Rate, Billable Rate, Multiplier or another Parentheses.

    • After more than two rules have been added, you can select the mathematical operator to change it + - * /.

    • As you build your formula, click anywhere within the formula to add new rules to the formula.

  6. Click Add to create the calculated column. 

     Tip
    To edit columns, select the column and update the information. Then click Save.

 

Create a Rate Table

 In Beta
Company Administrators can enable the Resource Management: Rate Tables - Company & Project Rate Management beta in Procore Explore. (US 2 | UK)

Background

Create and manage rate tables with effective/expiration dates, assign tables to projects, define custom cost and billable rate columns, and control project-level overrides.

Columns are configured in the company's Rate tool settings, and rows are populated based on the labor classifications or the equipment types, in your company's account.

Things to Consider

  • Required User Permissions

  • Rate tables are effective between the effective date and the expiration date.

  • When a calculated rate column is included in a table, the associated source columns from the calculated rate's formula are also added.

  • You can add and edit the rates for the source columns within a calculated rate's formula, but you cannot override the final calculated value.

Prerequisites

Steps

 Tip
You can also copy a rate table.

  1. Navigate to the company's Rates tool.

  2. Click Create and select Labor or Equipment.

  3. Enter the general information.

    Show/Hide Fields

    • Name. The name of the rate table.

    • Effective Date. The date the rate table goes into effect.

    • Expiration Date. The date the rate table expires.

    • Description. A description of the rate table.

  4. Add Columns.

    • Move the toggles Icon Toggle On ON or Icon Toggle Off OFF to include or exclude columns.

  5. Click Create.

Next Steps

 

Add Rows to Equipment Rate Table

 In Beta
Company Administrators can enable the Resource Management: Rate Tables - Company & Project Rate Management beta in Procore Explore. (US 2 | UK)

Background

Create and manage rate tables with effective/expiration dates, assign tables to projects, define custom cost and billable rate columns, and control project-level overrides.

Columns are configured in the company's Rate tool settings, and rows are populated based on the labor classifications or the equipment types, in your company's account.

Things to Consider

  • Required User Permissions

  • Importing

    • The Import template includes the columns that you have added to your rate table.

    • You can add rows or update existing rows using the import.

Prerequisites

Steps

Import Equipment Rows and Rates

  1. Navigate to the company's Rates tool.

  2. Click the rate table.

  3. In the 'Rate Table' section, click Import.

  4. Click Download Excel Template, to download the template with your current columns.

  5. In the spreadsheet, enter the following information:

    • Equipment Category Name and Equipment Type Name, which match the equipment categories and types in your Company Equipment tool.

    • A rate for each column and equipment type row.

  6. Save the spreadsheet.

  7. Navigate back to Procore and the Import window.

  8. Attach the file.

    1. Click Attach Files and select the updated rate table spreadsheet. Then click Open.

    2. Drag and drop the updated rate table spreadsheet from your computer to the 'Drag and Drop' section.

  9. Click Upload.

Manually Add Rows

  1. Navigate to the company's Rates tool.

  2. Click the rate table.

  3. In the 'Rate Table' section, click Edit.

  4. Add Rows.

    1. Click Add to add equipment types.

    2. At the bottom of the rate table, select the equipment type.

    3. Enter the rate value for each column.

    4. Click Add.

    5. Repeat these steps for each equipment type.

  5. Click Save.

  6. Click to Save to confirm.

See Also

 

Add Rows to Labor Rate Table

 In Beta
Company Administrators can enable the Resource Management: Rate Tables - Company & Project Rate Management beta in Procore Explore. (US 2 | UK)

Background

Create and manage rate tables with effective/expiration dates, assign tables to projects, define custom cost and billable rate columns, and control project-level overrides.

Columns are configured in the company's Rate tool settings, and rows are populated based on the labor classifications or the equipment types, in your company's account.

Things to Consider

  • Required User Permissions

  • Importing

    • The Import template includes the columns that you have added to your rate table.

    • You can add rows or update existing rows using the import.

Prerequisites

Steps

Import Labor Rows and Rates

  1. Navigate to the company's Rates tool.

  2. Click the rate table.

  3. In the 'Rate Table' section, click Import.

  4. Click Download Excel Template, to download the template with your current columns.

  5. In the spreadsheet, enter the following information:

    • Work Classification Name, which matches the classifications in your company Admin tool.

    • A rate for each column and each classification row.

  6. Save the spreadsheet.

  7. Navigate back to the Import window.

  8. Attach the file.

    1. Click Attach Files and select the updated rate table spreadsheet. Then click Open.

    2. Drag and drop the updated rate table spreadsheet from your computer to the 'Drag and Drop' section.

  9. Click Upload.

Manually Add Rows

  1. Navigate to the company's Rates tool.

  2. Click the rate table.

  3. In the 'Rate Table' section, click Edit.

  4. Add Rows.

    1. Click Add to add classifications.

    2. At the bottom of the rate table, select the classification.

    3. Enter the rate value for each column.

    4. Click Add.

    5. Repeat these steps for each classification.

  5. Click Save.

  6. Click to Save to confirm.

See Also

 

Assign Rate Tables to Projects

 In Beta
Company Administrators can enable the Resource Management: Rate Tables - Company & Project Rate Management beta in Procore Explore. (US 2 | UK)

Background

After you create your rate tables, you can assign them to projects.

Things to Consider

  • Required User Permissions

  • Currently, you can assign multiple equipment or labor rate tables to a project, but their effective date ranges must not overlap. Only one equipment table and one labor table can be active at any given time.

Steps

  1. Navigate to the company's Rates tool.

  2. Select the rate table.

    • From the Rate Tables list, locate the rate table. Then, click the projects hyperlink in the 'Assigned Projects' column.

    • Click the rate table. Under 'Assigned Projects', click the projects hyperlink.

  3. Mark the checkboxes for the projects you want to assign the table to.

  4. Click Assign to confirm.

See Also

 

Add Tools to Projects

Steps

  1. Navigate to the project's Admin tool.

  2. Under 'Project Settings', click Tool Settings.

  3. Move the relevant toggle Icon Toggle On to 'Active' to add the following tools to your project:

    • Rates

       Tip

      You can also enable the following tools that work with the Rates tool:

      • Equipment
      • T&M Tickets
      • Timesheets

Equipment

Background

Configure what rates should be applied to operating and idle equipment in Timesheets. Rates are applied when the rate is in the rate table that is assigned to the project.

Things to Consider

Steps

  1. Navigate to the company's Equipment tool.

  2. Click the configure settings Icon Settings Gear Grey3 icon.

  3. Click the Hours and Rates Mapping tab.

  4. Select the rate to apply to equipment Operating Hours in Timesheets.

  5. Select the rate to apply to to equipment Idle Hours in Timesheets.

  6. Click Save.

T&M Tickets and Change Events

Background

Rates are configured in T&M Tickets and applied to Labor and Equipment entries. When a Change Event is created from a T&M ticket, the revenue unit cost in each change event line item is pre-populated based on the rates from the T&M entries.

These cost rates are visible in the Change Event in the Change Events tool.

Rates are applied when the rate is in the rate table that is assigned to the project.

Things to Consider

  • Required User Permissions

  • Rates must be 'billable'.

  • The rate must be included in the rate table that is assigned to the project.

Steps

  1. Navigate to the project's T&M Tickets tool.

  2. Click the configure settings Icon Settings Gear Grey3 icon.

  3. Under 'Labor Rates' select the rate to apply to each time type in T&M Tickets.

  4. Under 'Equipment Rates' select the rate to apply to Operating and Idle Hours in T&M Tickets.

  5. Click Update.

Timesheets

Things to Consider

Steps

  1. Navigate to the company's Timesheets tool.

  2. Click the Configure Settings Icons Settings Gear icon.

  3. Click the Payroll tab.

  4. Under 'Manage Time Types, mark the checkbox next to the time types you want to show in the Timesheets tool.

  5. Optional: To add a new time type, enter the Type and Abbreviation, then click Add.

  6. Select the Rate that you want to apply to that time type.
    Note: Rates will be applied so long as that rate is in the project's Rate Table.

  7. Click Save.