The basic information for your company can be updated in the Configuration menu, or by clicking on your company name in the top left corner of the page.
Basic information about your company includes:
Company Legal Name
Address, City, State, Zip, & Country
Phone & Fax Numbers
Company logo
Additional company information can only be updated in the My Company section of the Configuration Menu. This information includes:
Verification Request Settings
Timekeeping & Payroll Settings
Revenue Accounting Options
1. Update Company Information
Follow the steps below to access and update your company's information.
Steps:
To update Company Address, click on RedTeam Flex in the top left corner of the page and click "Edit"
Modify the company information fields as needed
Alternatively, from Configuration, locate "My Company" (under the heading: Controls)
Update any settings and options as needed
Click "Save"
2. Configure Timekeeping and Payroll Settings
The Timekeeping and Payroll Settings will determine how labor is posted to job cost in your Projects. For these settings you have three sections: Payroll Export format, Preference for posting labor to Job Cost, and Job Cost Preference for Employee Time and Expenses:
For clients that use ADP, check the box for ADP so the Payroll Report downloaded is formatted so you can easily upload into ADP:
In the section "Select one of the following preferences for posting labor to Job Cost" you have two options:
Option 1: Use Actual Payroll Rates by Employee for Job Cost
If the Owners do not mind that all Admins will see each employee hourly amount, this option will post job cost based on the user's pay rate (which is updated in the Employee's profile) plus the Labor Burden rate you enter here in Configuration.
Example: Employee has a pay rate of $50/hour with a 50% Labor Burden, and works 40 hours on a Project, RedTeam Flex will post $3000 to job cost.
Option 2: Use Standard Cost Rates by Labor Category for Job Cost
By toggling on this option, it will also activate "Labor Categories" in Configuration/Employees and will post job cost based on the user's Labor Category (which is updated in the Employee's profile).
Example: Employee has the Labor Category "Project Manager" which has a rate of $75/hour, and works 40 hours on a Project, RedTeam Flex will post $3000 to job cost.
For RedTeam Flex databases that are connected to QuickBooks Online
When a Timesheet has been entered, reviewed, and Committed (approved), RedTeam Flex will post in QuickBooks Online:
1) the amount to be disbursed for payroll (Employee's pay rate x # of hours worked) will be posted to the Accrued Payroll account.
2) the amount for overhead for the Employee (Employee's labor burden x # of hours worked) will be posted to the Overhead Applied account.
You have two options in RedTeam Flex for configuring the way the labor is posted as described above. Both can be found in the Configuration menu > My Company > Timekeeping and Payroll Settings.
Option 1: Use Actual Payroll Rates + Labor Burden
If the Owners do not mind that all Admins will see each employee hourly amount, this option will post to Accrued Payroll based on the pay rate for the Employee (entered or modified in the Employee's Profile) and the Overhead Applied based on the labor burden you enter in Configuration.
Example: Employee has a pay rate of $50/hour with a 50% labor burden (so overhead per hour is $50 x 50%, or $25/hour). Employee works 40 hours this week. RedTeam Flex will post $2000 to Accrued Payroll and $1000 to Overhead Applied.
Option 2: Use Standard Cost Rates by Labor Category
This option will post to Accrued Payroll based on the pay rate for the Employee (entered or modified in the Employee's Profile) and the Overhead Applied based on the difference between the Employee's Labor Category rate and their pay rate.
Example: Employee has a pay rate of $50/hour and has been assigned the Labor Category "Project manager" at a standard cost rate of $75/hour (so overhead per hour is $75-$50, or $25/hour). Employee works 40 hours this week. RedTeam Flex will post $2000 to accrued payroll and $1000 ($25 x 40) to Overhead Applied.
Steps:
From Configuration, locate "My Company" (under the heading: Controls).
Scroll down to the section "Timekeeping and Payroll Settings".
Select an Option and Save.
If you choose option 2, next you will close the window and go to Labor Categories to Configure these with your standard rates.
For the section Job Cost Preference for Employee Time and Expenses:
If all employees will be logging their time and expenses through Flex the two boxes can be unchecked.
If some employees or not all time and expenses will be logged, then it is recommended to check both boxes and upload payroll hours and expenses into Transactions.