What is Labor Rate Cards

[shaik_irfan]

Hi,

I see we have something called as Labor Rate Cards can anyone please help me in understanding the purpose of Labor rate cards

?

I see the doc but i dont get much information on this

https://docs.servicenow.com/bundle/newyork-it-business-management/page/product/cost-management/conce...

[shankarkattaman]

Labor rate cards are used to get planned costs of resource when resource plans are created for a project. Its also used to get actuals against resource/cost plan when timecard is filled by users.

Also explore, Rate model which is advanced version of Labor rate card, where you have more flexibility to define rates based on your attributes.

[shaik_irfan]

Hi Shankar,

We usually create a Resource Plan via Group where we define the hourly rate. What is different when it compares to Labor cost ?

[shankarkattaman · Accepted solution]

Yes for group resource plans labor rate card is not applicable " For Group Resources, the hourly rate is taken from hourly rate field from group record."

But once u confirm allocation when individual rsouce gets allocated and they submit timecard, the actuals would use labor rate card to fetch rate for the resource to calculate actuals.

[shaik_irfan]

What if we dont have the Labor rate card define ? then how the actuals calculate