Rate types can be assigned as day rates and variation rates to requisitions , inquiries, quote summaries , and agreements. Examples for typical rate types are types for labor, construction equipment, or markup.
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From the Home screen, select Procurement > Setup > Financial Setup > Rate Types.
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To add a new record, select Add Row.
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Enter the Rate Type.
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Enter the rate type description in the Short Description and Description cells.
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Select a value from the Rate Group list.
The available groups are:
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Equipment owned
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Equipment Rented
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Labor
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Materials
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Other
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Select Save.