Create and edit indirect cost rates

Indirect cost rates are managed at each participant in the "Participants" section. You can create a specific indirect cost rate for each cost category or you can set the same indirect cost rate for all cost categories.

Alternatively, you can create a general indirect cost rate at a project level that will be applied to all participants working in a project workspace. You can create a specific general indirect cost rate for each cost category or you can set the same general indirect cost rate for all cost categories.

Once you set indirect cost rates, budget entries and expenses records are automatically calculated based on the defined indirect cost rates. 

• Create indirect cost rates
• Update existing indirect cost rates
• Create a general indirect cost rate
• Update an existing general indirect cost rate

Creating indirect cost rates

1

Click Participants in Home menu, this will open the "Participants" section.

2

Click on the participant which indirect cost rates you would like to create or click on its "Edit" icon.

3

A sidebar for this participant will appear, select the "Financial Profile" tab. 

4

Click  +Add Indirect Cost Rate at the bottom of the sidebar. 

5

An indirect cost rate sidebar will appear, here you can create the indirect cost rate:

• Rate (%): Click the blue "0" placeholder and type in the rate (you can also set the indirect cost rate by dragging the slider to the left or right).
• Name: Type a name for the indirect cost rate.
• Description (optional): Type a description.
• Cost categories: Tick the checkbox for each cost category to which the rate should apply (cost categories can be configured in the Customization settings).
Note: Only those cost categories for which no indirect cost rates have yet been defined are offered for this selection.

6

Click Save Cost Rate in the bottom right corner.

Tip: If necessary, repeat the steps until indirect cost rates are defined for all cost categories.

Updating existing indirect cost rates

1

Similarly to creating indirect cost rates, you must first go to the "Participants" section and click on a participant that you would like to edit to pull up the sidebar. Then click on the "Financial Profile" tab.

2

Hover over the indirect cost rate that you wish to edit and click the "Edit" icon. 

3

The indirect cost rate opens in a separate sidebar, here you can make the necessary adjustments:       

• Rate (%): Click the current rate in blue and update the rate (you can also update the indirect cost rate by dragging the slider to the left or right).
• Name: Update the name for the indirect cost rate.
• Description: Update the description for the rate.
• Cost categories: Tick the checkbox for each cost category to which the rate should apply (cost categories can be configured in the Customization settings).
Note: Only those cost categories for which no indirect cost rates have yet been defined are offered for this selection.

4

Click Save Cost Rate in the bottom right corner.

Creating a general indirect cost rate

1

Go to the "Settings" tab on the left hand side of your workspace and then click Customization.

2

Scroll down to the "General indirect cost rates" section and click + Add indirect cost rate. 

3

An indirect cost rate sidebar will appear, here you can create a general indirect cost rate:

• Rate (%): Click the blue "0" placeholder and type in the rate (you can also set the indirect cost rate by dragging the slider to the left or right).
• Name: Type a name for the general indirect cost rate.
• Description (optional): Type a description.
• Cost categories: Tick the checkbox for each cost category to which the rate should apply (cost categories can be configured in the Customization settings).
Note: Only those cost categories for which no indirect cost rates have yet been defined are offered for this selection.

4

Click Save Cost Rate in the bottom right corner.

Tip: If necessary, repeat the steps until general indirect cost rates are defined for all cost categories.

Updating an existing general indirect cost rate

1

Go to the "Settings" tab on the left hand side of your workspace and then click Customization.

2

Scroll down to the "General indirect cost rates" section, hover over the general indirect cost rate that you wish to edit, and click the "Edit" icon.

3

The general indirect cost rate opens in a separate sidebar, here you can make the necessary adjustments:

• Rate (%): Click the current rate in blue and update the rate (you can also update the indirect cost rate by dragging the slider to the left or right).
• Name: Update the name for the general indirect cost rate.
• Description (optional): Update the description.
• Cost categories: Tick the checkbox for each cost category to which the rate should apply (cost categories can be configured in the Customization settings).
Note: Only those cost categories for which no indirect cost rates have yet been defined are offered for this selection.

4

Click Save Cost Rate in the bottom right corner.