Setting Up Financial Management › Financial Management System Defaults › Set Project Transaction Entry Defaults

Set Project Transaction Entry Defaults

For each resource type, you can set up default rate and cost sources to use for transactions.

Important! Updating default transaction entry settings do not affect investments that are already financially enabled. These investments are processed based on settings defined when they were first financially enabled.

Follow these steps:

1. With the financial management defaults open, in the Project section, click Project Transaction Entry Defaults.

   The transaction entry page appears.

2. In the Labor section, complete the following fields:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for labor.

   Cost Source

   Defines the cost source used to determine the labor costs.

   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 to use for processing transactions.

   Values: Average, Fixed, or Spot

3. In the Material section, complete the following fields:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for material.

   Source Location

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

   Exchange Rate Type

   Defines the exchange rate type to use for processing transactions.

   Values: Average, Fixed, or Spot

4. In the Equipment section, complete the following fields:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for equipment.

   Source Location

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

   Exchange Rate Type

   Defines the exchange rate type to use for processing transactions.

   Values: Average, Fixed, or Spot

5. In the Expense section, complete the following fields:

   Rate Source

   Defines the rate source used to determine the rate to bill or charge for expenses incurred.

   Source Location

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

   Exchange Rate Type

   Defines the exchange rate type for processing transactions.

   Values: Average, Fixed, or Spot

6. Save the changes.