Financial Administration › Financial Management Default Options › Manage Transaction Default Entries

Manage Transaction Default Entries

For each resource type, you can set up system level default cost and rate matrices for transaction entries and specify the source location.

Important! Updating default transaction entry settings do not affect investments that are financially enabled after the change is made. Existing financially-enabled investments are processed based on settings defined when the investments were first financially-enabled.

To set transaction default entry values

1. Navigate to financial defaults.

   The Financial Management Defaults page appears.

2. Click the [Project Transaction Entry Defaults] link from the Project section.

   The Transaction Entry page appears.

3. In the Labor section, set the following:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for labor. Click the Browse icon to select the labor rate matrix.

   Cost Source

   Defines the cost source used to determine the labor costs. Click the Browse icon to select the labor cost matrix.

   Source Location

   Indicates that the source for the rate and cost comes from the employee (that is, resource) or investment location. If the default source location is set at the entity level, the system uses the entity setting to determine the source location.

   Exchange Rate Type

   Defines the exchange rate type.

   Values: Average, Fixed, or Spot.

4. In the Material section, set the following:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for material. Click the Browse icon to select the material rate matrix.

   Source Location

   Indicates that the source for the rate comes from the investment location.

   Exchange Rate Type

   Defines the exchange rate type.

   Values: Average, Fixed, or Spot.

5. In the Equipment section, set the following:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for equipment. Click the Browse icon to select the equipment rate matrix.

   Source Location

   Indicates that the source for the rate comes from the investment location.

   Exchange Rate Type

   Defines the exchange rate type.

   Values: Average, Fixed, or Spot.

6. In the Expense section, set the following:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for expenses incurred. Click the Browse icon to select the expense rate matrix.

   Exchange Rate Type

   Defines the exchange rate type.

   Values: Average, Fixed, or Spot.

7. Save the changes.
   1. If multi-currency is enabled, at Currency indicate if the billing or home currency should be used.
   2. To display a transaction class description, check the Show Transaction Class check box.
8. In the Planning Fields section, at Transaction Classes click the Browse icon, select the transaction classes to include in the plan, and then click Add.
   1. At Roles click the Browse icon, select the roles to include in the plan, and then click Add.
   2. At Charge Codes click the Browse icon, select the charge codes to include in the plan, and then click Add.
   3. Click Submit.
9. To select a default currency, at System Currency, select one from the list.
10. Click Save.

More information:

Financial Management Default Options