The Rate Re-calculation feature allows you to update the cost or wage of existing lessons seamlessly, starting from the current date forward. This feature is incredibly useful when adjusting your tutoring rates or staff wages mid-semester, as it saves your administrative team from manually editing every upcoming lesson on your calendar.
Where to Find Rate Re-Calculation
You can trigger a rate or wage recalculation from multiple pages within Teachworks. The option is displayed in the following pages:
Edit Service Form
Edit Wage Tier Form
Student Profiles (Billing Details)
Employee Profiles (Employment Details)
NOTE: Only lessons on or after the current date with a status of "Scheduled" are updated with the new cost or wage settings.
Permission Settings
Because modifying billing rates and employee wages is a sensitive financial operation, Teachworks allows you to restrict or grant access to this feature based on administrative user roles.
Configuring Access Levels
To update your team's access privileges, you can follow the steps below:
Click on "Account" and then click on "Account Settings".
Click on the "Finance & Operations" tab.
Set your desire configuration in the "Recalculate Rates Option" dropdown. You can choose between two configurations:
Administrator Only: Restricts the feature entirely to the Company Administrator.
Administrator and Staff Employees: Grants permission to both the Company Administrator and Administrative Staff users.
NOTE: If your Teachworks account was created before February 15, 2021, these permission checkboxes are completely hidden from your office staff by default. To unlock the feature for your staff members, an administrator must explicitly log in and switch the Recalculate Rates Option setting over to Administrator & Staff Employees.
Scenarios
The following describes how the Rate Recalculation feature will work when it is applied for the following types of records:
Service List
When recalculating rates for a service, the software will update the cost and wage for all lessons with that service that are currently set to "Scheduled".
Wage Tiers
When recalculating rates for a wage tier, the software will update all lessons belonging to teachers who are assigned to the specific wage tier and will update the wage for those lessons.
If a wage premium is applied to a lesson or the wage premium has changed, then the cost will also be recalculated for any students in that lesson (to ensure that both the cost and wage premium are using up-to-date values).
Student
When recalculating rates from a student profile, the software will update the cost and wage for all lessons belonging to that student that are currently set to "Scheduled".
Employee
When recalculating rates from an employee profile, the software will update the wage for all lessons belonging to that employee that are currently set to "Scheduled".
If a wage premium is applied to a lesson or the wage premium has changed, then the cost will also be recalculated for any students in that lesson (to ensure that both the cost and wage premium are using up-to-date values).
Note about Cost Override
Any lessons that have had the cost set using the "Cost Override" feature when they were initially scheduled will use the specified "Cost Override" method to recalculate rates, even if the "Cost Override" setting on the Account Settings page has since been disabled. In situations such as these, edit the series of lessons directly to use the student's default billing method.