What is the difference between the Billing rate and the Burden rate in Employee Timecard reporting?

What is the difference between the Billing rate and the Burden rate in Employee Timecard reporting?

The bill rate is the amount that your company will pay to a staffing agency, per hour, for both their services as well as the services of a contingent worker. The bill rate is simple, and is a combination of both the pay rate and the markup. Calculating the labor burden rate allows construction companies to accurately bid on projects. Employers can pay 30, 40 and even 50% of an employee's hourly wage in indirect costs. It is interesting to note that for a union contractor, the labor burden rate for employee costs ranges from 60 to 70%.

    • Related Articles

    • Adding a Employee Write Up

      While it is unfortunate there are times you need to write up an employee for disciplinary purposes, Contractor Foreman gives you the tools and organization to do it in a proper way. To create a new employee write up, go to main menu and select ...

    • Basics of Employee Write-Up's

      Purpose: To Create an Employee Write-up. Background: While it is unfortunate there are times you need to write up an employee for disciplinary purposes, Contractor Foreman gives you the tools and organization to do it in a proper way. Points to ...

    • How to make an employee a user?

      Making an employee a User is as easy. From the web panel, go to: Menu > Directory > Employees > Select the Employee > click on App Access checkbox on the right and assign them a username and an email address and a Role. You can define the Roles (what ...

    • What is the difference between the Leads in the Directory and the Leads module?

      Leads in the Directory and the Leads in the module are one and the same. The only difference if at all is in how the Leads are displayed. In the Leads module, you can see it differently. If you add a Lead to the Directory, it will also show in the ...

    • How do I create Progress Billing Invoices?

      The easiest way to accomplish this is to add the Invoice to the Schedule of Values once the Invoice is approved. To do this, create the Invoice, get it approved and then move it to Schedule of Values