What is a standard rate?

Learn more about standard rates and their use.

Updated over a week ago

Edition: Professional, Business, Enterprise

User-level: Director and System Administrator

Previous steps: Rates and Rate Groups

This article will help explain what a standard rate is and how it is used in Synergy to compare against actual business costs.

A standard rate is the baseline or lowest suggested value that each staff rate should be charged out at on an invoice and still make a profit.

The purpose of the standard rate is used by Directors and System Administrators to compare the actual costs against their standard rate group to get a realistic perspective of how the job is running.

In this image you will find the project financials page*. Notice how there is the ability to switch between standard costs and actual costs. For directors and above, this option is available. However, for Assistant Project Managers and Project Manager, only the standard option is available. This security measure is in place to hide the actual costs of the business from those who do not have the security clearance.

*Please note the project financials page is for Business and Enterprise only. You can still run standard vs. actual reports in the 'Report' section.

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