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Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 6 · Rate Schedules and Pricing

Currency and effective dating

Lesson 62 of 198 · 11 min

Create a rate schedule in a second currency and show currency conversion applied to a transaction. Create a new effective-dated version of a schedule with increased rates, show a transaction before and after the effective date pricing differently, and show a BACKDATED transaction picking up the OLD rate. EFFECTIVE DATING IS HOW YOU HANDLE THE ANNUAL RATE INCREASE WITHOUT BREAKING HISTORY. NEVER OVERWRITE A RATE; DATE A NEW ONE. Backdated transactions must pick up the rate that applied then. TEST THIS SPECIFICALLY — it is the thing that goes wrong. Multi-currency rate schedules matter for international delivery. Confirm the conversion approach with Finance.

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In this module: Module 6 · Rate Schedules and Pricing

  1. 1Cost rates and bill rates
  2. 2The four schedule types
  3. 3Creating person and job rate schedules
  4. 4Nonlabor and resource class rate schedules
  5. 5Rate sources and the derivation hierarchy
  6. 6Currency and effective dating
  7. 7The annual rate cycle
  8. 8What breaks
  9. 9Lab: rate the business and explain three transactions