Company Labour Rate is the most important figure to ensure you are correctly charging your customers.
In FlatRateNOW, there are 2 specific numbers, the Business/Company Break Even rate and the Charge Out Rate.
What are these two numbers?
Business/Company Break Even Rate: This figure is what your business/company must charge at a minimum to cover all the operational expenses. It is best to create a forecast for the next 12 months and allow for extra 'space' in your numbers for unexpected invoices.
Your operational expenses should include but are not limited to:
- Salaries
- Office Supplies
- Vehicle Supplies (fuel, servicing etc)
- Tools and equipment
- Loans & Financial Tenancy Agreements
- Utilities (energy, gas etc)
Charge Out Rate: In FlatRateNOW settings, you can create up to 4 different labour rate. These can be created for any number of reasons, for example: Private Clients, Strata/Real Estate, Builders, Contract Work etc.
The reason these may vary is due to the projected operational expenses, commonly decided by the marketing budget.
How to update your Labour Rates within FlatRateNOW
View this interactive demo in full, including any/all descriptions in the steps.
Coming Soon
FlatRateNOW's dedicated labour rate calculator will be live soon to ensure you keep your labour rate up to date. We believe that your business/company labour rate should be 'fluid' as business projections can change overnight. Ensuring you are able to review your labour rate quickly and efficiently, then apply those changes it important.