On the Rate tab, Web Suite captures salary information, rates, and important vendor-related dates.
Hourly Rate
Bill Rate: (required)
The vendor's default hourly bill rate, the most common rate that the vendor is billed at per hour of work. This is the bill rate that will be recorded to time entries when there is neither a Service Fee Schedule linked to the Project nor a rate assigned to the Activity that the time entry is being recorded against. Bill rates can be assigned to specific combinations of vendors, activities and projects in a Service Fee Schedule.
Over Time Bill Rate:
The vendor's default hourly overtime bill rate, the most common rate that the vendor is billed at per hour of overtime work. When a time entry is marked as overtime, this bill rate will be recorded. Web Suite uses the overtime bill rate when time is flagged "Overtime" to compute the bill amount. Overtime bill rates can be assigned to specific combinations of vendors, activities and projects in a Service Fee Schedule.
Country (Currency):
Use this field to specify a vendor's default currency. This is useful when vendors use a currency other than the local currency used by the firm for which they work. For example a firm based in the U.K. can use the British pound by default but a vendor that resides in France can charge in euros.
Payment Term:
You can set the payment term of the vendor by selecting it from the drop-down list. The available options are Net 30, Net 45, Net 60, Net 90, Net 10 and Net 20.
Cost Rate
Pay Rate: (required)
The vendor's default hourly pay rate, the most common rate that the vendor costs the company per hour of work. The cost rate incorporates salary, benefits, overhead and other costs associated with a vendor. This vendor cost rate will be used when there is neither a Service Fee Schedule linked to the Project nor a cost rate assigned to the Activity that the time entry is being recorded against. Cost rates can be assigned to specified activities in the Activity screen. Cost rates can also be assigned to specific combinations of vendors, activities and projects in the Service Fee Schedule screen.
Over Time Pay Rate:
The vendor's default hourly overtime pay rate. It is the most common rate that the vendor costs the company per hour of overtime work done. When a time entry is marked as overtime, this rate will be recorded when there is neither a Service Fee Schedule linked to the project nor a cost rate assigned to the Activity used. Cost rates can be assigned to specified activities in the Activity screen. Cost rates can be assigned to specific combinations of vendors, activities and projects in the Service Fee Schedule screen.
Over Head Multiplier:
The default value is 1. This is used to define the costs that the company incurs besides the pay, for a vendor. It is used to determine the ideal bill rate of a vendor. It can be calculated as:
OHM = Total Annual Expenses / Total Annual Pay
You cannot put a value less than 1 in the overhead multiplier. Web
Suite automatically puts a value of 1, if anything less than 1 is put
as the value.
Dates
Vendor Since:
The date when the vendor was hired. You can use the date hired as a
filter to simplify reporting and data management. You can also select
the date by clicking 
which displays
the calendar.
Released:
Date the vendor was released from employment. When you enter a Released
date, be sure to change the vendor status to "Terminated" to
remove the vendor from the drop-down lists. You can also select the date
by clicking which displays the calendar.