The Cost function is a great tool for tracking a project's cost, from data capture to bill submission. Your project Costs can be attributed to their respective jobs, either by using actual item cost, or by using percentages. Keep in mind that, once entered, this data will be visible across multiple reports, so it's important to protect it in accordance with your internal policies.
COST AS PERCENTAGE OPTION FOR MATERIALS | EQUIPMENT | SPECIALTY ITEMS
Alternatively, you can track your costs in the Project Settings File using the Percentage Function.
Labor Cost is calculated based on Labor Class.
To set up Labor Cost:
Under the Project Cost Set Up, Open the Labor Company Cost Set Up - See Image Below
In the COST (LABOR) dialog, click ADD to open the Labor Company Setup dialog
Enter the Company or Abbreviated Company Name that employs the Laborer
Choose the Laborer's Class
Assign the Regular Rate and the OT Rate Factor you are paying
Repeat this process for every Labor Class and for every Company providing laborers for the project
Each Labor input will post in the Cost Table as shown below
Selecting "PR Rule as Billed" is recommended, as this will apply the same OT Rule you are using in the bill