To govern the rate structure that covers all your pricing scenarios, create a cost/rate matrix. Depending on your needs, create one or more matrices. For example, set up a cost/rate matrix each for external and internal projects.
We recommend that you Include labor, materials, equipment, and expense resource types in your matrix. You can then define costs and rates for labor and non-labor resources for cost planning and financial transaction processing.
We also recommend that you use charge codes to help define costs and rates.
Follow these steps:
Defines the default currency for this matrix. This field only appears if multicurrency is enabled.
Defines the location OBS related to an entity. Rates and costs are applied to transactions only when there is a match for either the investment, resource, or the entity location OBS.
We recommend that you leave this field blank because it can result in no rates being applied.
Defines the financial entity that is associated with the matrix. Rates and costs are applied to transactions only when there is a match for either the investment, resource, or the entity.
We recommend that you leave this field blank because it can result in no rates being applied.
Specifies whether this matrix is restricted to particular users.
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