Defining a resource rate

Resource rates are billing rates that you assign to a resource. You can assign rates to any resource. You can also assign resource rates specific to an activity group or activity. This lets you have different billing rates for the same resource, depending on which activity is involved.

This procedure describes how to define a resource rate for time and materials billing. Use this procedure if you selected Resource (R) as your billing rate option on Activity Billing (BR00.1).

The setup tasks described in this procedure apply specifically to defining a resource rate for time and materials billing. See Setting up resources.

  1. Select the appropriate form for the type of resource rate that you want to define:
    To define rates for Use
    AC Person Resources

    • Person Resource Rates (AC17.2) to assign global resource rates

    • Assigned Person Resource Rates (AC18.1) to assign a resource to a specific activity group or activity

    Note: Select the person to whom you want to assign a resource rate.
    HR Resources

    • Employee Resource Rates (AC17.3) to assign global resource rates

    • Assigned Employee Resource Rates (AC18.2) to assign a resource to a specific activity group or activity

    Note: Select the Human Resources company for the employee resource you want, then select the employee.
    Vendors

    • Vendor Resource Rates (AC17.4) to assign global resource rates

    • Assigned Vendor Resource Rates (AC18.3) to assign a resource to a specific activity group or activity

    Note: Select the Accounts Payable company for the vendor resource you want, then select the vendor.
    Assets

    • Asset Resource Rates (AC17.5) to assign global resource rates

    • Assigned Asset Resource Rates (AC18.4) to assign a resource to a specific activity group or activity

    Note: Select the asset to which you want to assign a resource rate.
    Equipment

    • Equipment Resource Rates (AC17.6) to assign global resource rates

    • Assigned Equipment Resource Rates (AC18.5) to assign a resource to a specific activity group or activity

    Note: Select the equipment to which you want to assign a resource rate.
  2. Regardless of which resource form that you select, these fields are the same. To define resource rates, use these guidelines to specify the field values:
    Currency Code

    Select the resource rate's currency. When you use the resource in a transaction, the resource rate's currency determines the transactions currency.

    Effective Date

    Specify or select the date the rate is effective. You can create multiple rates with different effective dates. When you use the resource in the transaction, the transaction's date is compared to the rate's effective dates to determine which rate to use.

    Cost Rate

    Specify the cost rate. This rate is multiplied by the unit of measure to determine the transaction amount.

    UOM

    Select the units of measure; for example, hours or pieces. See Setting up resources.

    Billing Rate

    Specify the billing rate. The rate is multiplied by the units of measure to determine the billable amount.

    Note: Billing rates are required for time and materials billing.
    Status

    Select A (Active) or I (Inactive) to identify the rate's status. The default status setting is Active.

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