How to add a standard rate

How to add a standard rate to your organization

What is a standard rate?

A standard rate is a "rate classification". When you add a new employee, instead of choosing "custom hourly rate", you would choose a rate class to be applied to this employee. When that rate class gets a raise, each employee with that setting will receive the raise.

For example, a restaurant hires all new servers at $11.50/hour and assigns them a standard rate of Server1. After their first year, they get a raise to $12.00. When a server is moved up, instead of updating their compensation policy, update their standard rate classification to Server2.

At the beginning of a new year, the restaurant decides to raise all new servers to $12.00 and experienced servers to $12.50. They would update the standard rate on Server1 and Server2 directly, and all servers' compensation policies would be updated at once. 

How to set up a new standard rate

1. Select Payroll in the top menu, and Payroll Setup under the Payroll heading.


2. Select the tab Standard Rates and click Add Standard Rate to create a new one, or Edit to adjust an existing rate.




3. Add the basic information for this standard rate:

  1. Code: This short form version of the description is used as a preface to the name.

  1. Name: This long form version of the description is used to explain to whom this rate applies.

4. Click Save.

                                                               

5. Click Add or Disable Rate.

6. Add the rate information:

  1. Rate: This is how much all employees assigned this standard rate will get paid per hour.

  1. Effective Date: This specifies when the rate takes effect. Especially useful if you are increasing the rate.

7. Click Save.


8. You will see the details of the standard rate appear. Click Save and you are complete! This is now available to be added to employee profiles.


    • Related Articles

    • How to add an employee to Payroll

      To add an employee to Payroll, you will have to follow a different set of steps depending on which Rise features your organization uses. My organization only uses Rise Payroll If your organization only uses Payroll, you can add employees directly ...
    • How to add payroll instructions

      Who can use this feature? Users with Payroll Organization Admin role Available on Start , Grow , and Optimize plans. Introduction Payroll instructions are fundamental building blocks in Rise Payroll. They calculate and track the amounts of earnings, ...
    • How to add payroll instructions to the input sheet

      Adding an instruction to the input sheet If a payroll instruction is not scheduled to appear on this run (or potentially not scheduled to appear on any run by default, as is the case with "occasional" payroll instructions) it will be available to add ...
    • How to set up payroll

      Before you start processing your first payroll with Rise, please ensure you do the following: 1. If you have previously used a different provider, please inform Service Canada of your intent to change payroll providers by issuing a single Record of ...
    • What information is in the standard reports?

      Departmental Payroll Register This report breaks down your register entries into department sections. Each department will have a departmental total, and the report shows a company total at the bottom. You can export this report to a pdf. Employee ...