You can set up task prices a few different ways within Profit Rhino. We'll start with the most common form of pricing, Time and Material.
Time and Material pricing is calculated using task duration and total material costs. The duration along with your bill out rate is how the system determines labor pricing. The parts pricing is determined based on the part cost and the markup you've decided you put on those parts. The combination of the two will result in your flat rate price. Take a look at the breakdown below.
Time and Material
(Billout Rate x Duration) + (Part Cost x Markup Schedule) = Flat Rate Price
Tasks can also be priced based on a Fixed Price and you have two options in this instance; Fixed Price - Manual and Fixed Price - Calculated.
Fixed Price - Manual
You manually set the Value, Standard, and Premium rates on the task. Pretty straightforward.
Fixed Price - Calculated
You manually set the Value rate and the Standard and Premium rates calculate based on the markups that you have set in business information.
Take a look at the Intro to Task Pricing video below. We'll walk you through how each are set up within the platform.
There are additional markups that can be entered for sales tax. We didn't go too far in depth with tax in this article, but take at look at the links below for more information.
Adding Tax Into Your Flat Rate
Adding Tax to Show on the Invoice