Associate the Financial Cost Matrix to Projects

Use this procedure to associate the financial cost matrix to a project resource type. The financial cost matrix is used to calculate project rates.

Important! Before you can associate the financial cost matrix to your project, create the matrix.

See the Financial Management User Guide for more information.

Follow these steps:

Open the project.
The properties page appears.
Open the Properties menu, and from Properties, click Financial.
The financial properties page appears.
In the Labor Transaction Rates, Material Transaction Rates, Equipment Transaction Rates, and Expense Transaction Rates sections, enter the following cost information:
Rate Source

Defines the cost or rate matrix used for calculating the benefit amount of the transaction entry.

Cost Source

Defines the cost or rate matrix used for calculating the cost amount of the transaction entry.

Exchange Rate Type
Displayed only when multiple currencies are available. Defines the exchange rate type that is used for transactions entered against the project. When the project is approved, you cannot modify the exchange rate type.

Values:
- Average. The blended derived rate over time, typically weekly or monthly.
- Fixed. The fixed rate that does not change over a defined period.
- Spot. The variable rate that changes over the course of a day.
Save the changes.

More information: