Time And Material by Service or Resource Charge and Price By Estimated pricing models

Learn the difference and how these features should behave

Time and Material is a default service pricing method that can be broken down into three areas: 

1. Time and Material By Service Charge - The Service price is automatically calculated with the formula:

( (Service Hourly Rate x hours) + (Equipment Unit Price X equipment hours) + (Material Unit Price X Material Amounts)

2. Time and Material By Resource Charge - The Service price is automatically calculated with the formula: 

( (Unit Price for Employees on Crew x hours) + (Equipment Unit Price X equipment hours) + (Material Unit Price X Material Amounts)

* Note for the above T&M selections, the price will calculate/change based on the actual hours after a service is scheduled, completed, or marked RTI. If you wish to NOT change the price after scheduling, see below Price By Estimated model

3. Price By Estimated: Price By estimated model requires you pick one of the above T&M models, and will lock in the estimated price, which means upon scheduling the service, that price will not change.

Authored by: Josh on 6/13/23