Understanding Effective Date within Rates

Rate tables are one of the most important pieces of information within Entire OnHire finance.

Rate tables contain all member pay and client charge values so, without rate tables, pays and invoices would all be produced at $0.00

Besides the pay, charge and allowance rates, the second most important piece of information held within a rate table is the effective date.

Effective dates play a large role in Entire OnHire so it is important to gain an understanding of how they work.

Entire OnHire has provided users with the ability to create and attach rate tables in advance of their necessity.

Even though the future rate table has been attached to a client /s, any shifts / jobs for that client will not attract the rates within the future rate table if the effective date on the future rate table is greater than the current day.

There is a logic within Entire OnHire to apply rates from a rate table with an effective date that is the closest date to being either equal to or less than the current day, regardless of when it was attached to the client.

For example:  

Rate Table A contains winter rates and has an effective date of 1 June, 2020

Rate Table B contains summer rates and has an effective date of 1 December, 2020  

On the 1st of June 2021, the winter rates will need to be applied to pays and invoices.

In preparation for the rate changeover, you map Rate Table A to your clients prior to June 1 but you don't change the effective date of Rate Table A.

This will cause shifts from June 1, 2021 and forward to have the rates from Rate Table B applied because the effective date of 1 December, 2020 is closer to June 1, 2021 than the effective date of 1 June, 2020 on Rate Table A.

To avoid this, you would need to change the effective date on Rate Table A to June 1, 2021

It is very important that an effective date on any rate table reflects the date of the very first shift / job the new rates need to apply to.