Defining resource rates (AC/BR)

Resource cost rates are used to determine transaction amounts when you process journal entries in Project Accounting. Resource Time Entry (AC41.x), Subcontractor Time and Material Entry (AC42.1), Transaction Interface (AC540), and Transaction Interface Adjustment (AC54.1). Use this procedure to define resource rates.

Note: Resource billing rates are used for Time and Materials billing.
  1. Access 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)
    HR Resources Employee Resource Rates (AC17.3)
    Vendors Vendor Resource Rates (AC17.4)
    Assets Asset Resource Rates (AC17.5)
    Equipment Equipment Resource Rates (AC17.6)
  2. Select the resource for which you will define a rate.
    On this form Field in which you select a resource
    Person Resource Rates (AC17.2) Person
    Employee Resource Rates (AC17.3) Company and Employee. Select the Human Resources company for the employee resource you want, then select the employee.
    Vendor Resource Rates (AC17.4) Company and Vendor. Select the Accounts Payable company for the vendor resource you want, then select the vendor.
    Asset Resource Rates (AC17.5) Asset
    Equipment Resource Rates (AC17.6) Equipment
  3. In the Currency Code field, select the rate's currency. When you use the resource in a transaction, the resource rate's currency determines the transaction currency.
  4. Define rates for the resource using these guidelines:
    Effective Date

    Specify 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 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 units to determine the transaction amount.

    UOM

    Select the unit of measure. See Defining units of measure (AC/BR).

    Billing Rate
    Sts (Status)

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