TABLE OF CONTENTS

• Introduction
• How do Rate Cards work?
• Adding a rate card
  • Using Existing role rates
  • Adding New Role Rates
• Editing or Deleting a role rate

Introduction

Rate cards indicate the rates at which the resources are billed for the work they do for the client's projects. Depending on the experience and involvement of the resources in a project, the per-hour billing rates are defined in a rate card. When the resources working on the project submit timesheets, if the task is billable, the client is billed for that many hours at the rates defined in the rate card that you have assigned to a project. 

How do Rate Cards work?

Let's take an example to understand this. Say you have a senior developer who bills at INR 1000/- per hour and a junior developer who is billed at INR 600/- an hour as per the rate card that has been assigned to the client. 

If the senior resource works on the project for 2 hours and the junior resource spends 5 hours working on the project in a week. The total billing for the client will be 

INR 1000 x 2 + INR 600 x 5  = INR 5000/-

In Keka, you can define general Organization Reference Rate Cards in different currencies that can be used for billing all clients and projects that you add to the system. 

Client managers also have the option of creating client-specific rate cards that apply to a particular client only based on the terms of the agreement with any particular client. 

To know how to add organization reference rate cards for your organization, read here.

Let us see how you can add rate cards for any specific client.

Adding a rate card

To add a client-specific rate card, navigate to Project (1) >> Clients (2). Here, you will find a list of clients you have added to the organization. 

Select the Client (3) you want to add the rate card for. 

Then, navigate to the Billing tab and click on Add Rate Card on the Rate Cards tab.

If it's a new client, you will find the option to add a rate card on the Client Summary page as shown below. 

In the Add Role Rate window, you can either add role rates defined in the global rate cards for your organization or configure one specifically for the client.

Using Existing role rates

To use the role rates from a rate card that has been defined already, choose the Select from Existing Role Rates radio button. 

You will now get the option to choose any rate card that has the same billing currency as the client. Select the desired rate card from the Org Rate Card drop-down. 

Then, from the list, you can choose the specific role rates to add to the client rate card. 

Click on Add to finish adding the role rates selected to the client. 

Adding New Role Rates

You can also create new rates for unique roles and add them to the client's rate cards. This is useful for special projects or roles not in any other rate cards.

To do this, select Add New Role Rate from the Add Role Rate screen. You have to enter the following details to add a new role rate. 

Role Name: Keka has predefined roles but you can add new role names if needed.

Click on Add New Role to add a new role. Enter the Name and Description for the new role and click Save to add the new role to the list. 

Bill rate - Enter the hourly bill rate for the chosen role. 

Rate Category (Optional) - Role category allows you to have different rates for the same role depending on the category and Off-site and on-site are even pre-defined categories in the system.

If you want to add more rate categories, click on Add Rate Category. Enter the new category name in the field and click Add to add the new rate category. 

Suggested Cost (Optional)- The suggested cost helps you calculate profitability by indicating the cost you incur for the role.

Once you have entered the required details, click on Add to add the role rate to the client. 

You can repeat the above steps to add all the required role rates to complete the rate card for the client. 

Editing or Deleting a role rate

To edit the role rate, find the role rate that you want to edit from the list of role rates in the Billing section of the Client details. 

Click on the three dots under the Actions column and select Edit or Delete from the drop-down. 

Role Name and Role Category cannot be modified

You cannot delete a role rate if it has been assigned to a project resource.

This concludes this section on Adding rate cards and specifying role rates for the client. More questions? Reach out to our product experts today!