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Purpose

The purpose of this quick reference guide is to step through the process of creating a Calculation Method record. The intended audience for this document is System Administrators / Standard Users. The Calculation Method record holds the calculation type and unit of calculation for Rate Calculator records.

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Steps

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Create a Calculation Method record

To create a Calculation Method record follow the steps below:
  1. Click on the App Launcher icon (see Figure 1).
Screenshot from QRG Create a Calculation Method record
  1. Go to the Calculation Methods object by using the Search function (see Figure 2).
Screenshot from QRG Create a Calculation Method record
  1. Click on the New button (see Figure 3)
Screenshot from QRG Create a Calculation Method record
  1. Populate the following required fields to provide the base details of the Calculation Method record (see Figure 4):
    1. Calculation Method Name
    2. To define the type of calculation to apply to a Rate Calculator, select from the picklist values in the Calculation Type field:
      1. Mark Up
      2. Margin
    3. To define the type of units the Calculation Method can use to determine the Calculation amount, select from the picklist values in the Calculation Unit field:
      1. Currency
      2. Percentage
    4. To define the description that will be displayed on the Rate Calculator record, populate the Calculation Method Description field.
  2. Populate the Calculation Based on field using one of the following options as required:
    1. If Mark Up was selected in the Calculation Type field, and Percentage was selected in the Calculation Unit field, users will need to indicate in the Calculation Based On field to define how Invoice Rates are calculated, by selecting from the available picklist options:
      1. Base Pay Rate
      2. Pay Rate
      3. Total Pay Rate + Costs
    OR
    1. If Mark Up was selected in the Calculation Type field, and Currency was selected in the Calculation Unit field, the Calculation Based On field should be left blank.
    OR
    1. If Margin was selected in the Calculation Type field, and Percentage or Currency was selected in the Calculation Unit field, the Calculation Based On field should be left blank.
  3. Click on the Save button (see Figure 4).
Screenshot from QRG Create a Calculation Method record
  1. A new Calculation Method record is now created (see Figure 5).
Screenshot from QRG Create a Calculation Method record
Calculation Method records CAN NOT be deleted if they have related records or are used in other records. Deleting records is not recommended unless absolutely essential.
  1. To modify an existing Calculation Method record, open the required record and select the Edit button available on the top right side of the page. You can also double click within fields that need editing or just click on the pencil icon that appears within fields when hovering with your cursor.
  2. When complete, click on the Save button.

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Field Descriptions

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Further Information