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Definition of Terms Used in Kind Record
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Definition of terms used in the Kind record.
This page contains the definition of terms used in the Kind record. Before launching into the topic of kinds there are several definitions that you need to be familiar with, as seen below:
Category A category is a group of kinds related to each other. A category may refer to:
- a particular stage of a job eg. concept, artwork, production
where the world is sourced from eg in-house production, external production, sundries and disbursements
the department (in house) that performs the work eg, strategy, studio, outsourced production
the type of costs that are included in the category eg fees, time, external costs, disbursements
Categories also act as a sub total on job reports
Note: Categories cannot have costs entered against them. Every category should contain at lease one kind.
Kinds are things that you actually record costs and charges against. That includes:
- Every kind of service, item or goods charged to you as overheads
Every kind of work or items charges to you by suppliers
Every kind of work/activity performed in house, and
All in-house materials that you record as a cost or charge out on jobs
A kind code is a unique code that identifies a specific kind of service, goods, activity or item eg,
- FA - Finished Art
MACV - Mac Visuals
PROJM - Project Management
Note: Kind codes can be 2 to 8 characters in length. Create kind codes that bear an obvious relation to the name of the kind. It is strongly recommended that letters be used rather than numbers because they are more easily remembered.
Items are things that get charged out at a set rate per unit produced. For Example: Colour proofs - You may have an A3 colour laser printer and need to record the number of colour proofs that are produced so they can be charged to the appropriate job. First, you would set up a kind called Laser Proofs (or similar) then within that kind you would create items for A3 Colour Proofs, A4 Colour Proofs and any other size that you generate Note: Each item would have its own charge rate.
A node is a placeholder that contains sub-kinds. Nodes cannot have charges entered against them but they are used in internal reporting for printing ‘totals’ of sub-kinds. For Example: You may want to split a kind into different elements eg. Printing – Brochures, Printing – Posters, Printing – Catalogues, Printing Envelopes (etc). Each is a kind you create purchase orders for and enter costs against but they are bundled up as a total in reports Sub-kinds are kinds that are organised under a Node, generally for organisation and reporting purposes. A charge rate is the default rate that is used when a kind is used for creating quotes/estimates and entering timesheets. Note: Charge rates can be for an employee, for a specific client or for a specific job An Employee Charge Rate is a rate set specifically for an employee that overrides the usual charge rate no matter what they do. Note: An employee charge rate can be set as a percentage of the default charge rate for the kind. Mapping is linking a kind code to an account code in the chart of accounts. Note: Mapping is linking a kind code to an account code in the chart of accounts. A Mark-up is the default percentage added to a cost when entering supplier’s invoices, general charges and petty cash costs. Example: When a subcontractor supplies PTR (Printing), i.e. it is marked up by 25% on the client's invoice Note: Mark-ups are set (defaults) in the Kinds window and apply to all suppliers’ invoices entered against the kind unless a special mark-up is set for a supplier, client or job. Mark-ups can be deleted or overridden during entry of a supplier’s invoice (one-off).
Fields And Functions Refer to the information below regarding the fields making up the Kinds window:
Use as forecast kind
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Use on timesheets
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Override employee/freelancer charge rate
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DEFINITIONS
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