Is it possible to change billing rates for existing job roles without the risk of actual revenue changing on previous projects?

[PhuongKr]

Here’s our use case:

• We created a job role and added a billing rate.
• We assigned a worker (user) that job role with billing rate.
• Worker with the job role is assigned tasks in projects.
• Then Worker with job role logs hours and there are actual revenue for project (hours times billing rate for job role).
• Now we need to change the billing rate for the same job role. But we don’t want the actual revenue to change for previously projects. Actual revenue should stay the same at previous billing rate.

Is it possible for us to change billing rates for existing job roles without the risk of actual revenue changing on previous projects?

We don't use Billing records on our project today. Is Bill Records the only way to lock in the Actual Revenue?

If so, this would mean that we need to go back and create billing records for all our existing projects. Is there a solution to create billing records in bulk?

[Doug_Den_Hoed__AtAppStore]

Hi Phuong,

You're on the right track: Billing Records will lock in those hours and rate "as of" that point in time, so you can then adjust the Billing Rates "going forward", and then rinse and repeat as needed. Billing Records can include billable time, non billable time, and/or expenses...and are also commonly used to "protect" a Workfront Project (and all its child data; think My Biggest Request Queue...) from accidental deletion, since Workfront will deny such a (typically accidental) deletion if even one Billed Billing Record exists.

As for creating billing records in bulk, whether for a historic conversion such as the one you are considering, or for a periodic "month end close" situation, I invite you to consider our Auto-Bill solution.

Regards,

Doug

[CalvinFold]

Depends on where you enter your rates. We've been told, repeatedly, by Support, that if you manage rates at the Company level (we use Company as selectable rate sheets) then you don't need Billing Records to lock-in rates.

I'd love someone like Doug to confirm that if I change my Company rates that the change is only going forward and that any existing timesheet entries will be unaffected, even within the same project.

[Doug_Den_Hoed__AtAppStore]

Hi Kevin,

I'd suggest you test it to confirm; my understanding is that Recalculate Finances on a Project will do just that using the now-current rates (at whatever level they reside), unless those finances have been "locked" via a billing record.

Regards,

Doug

[CalvinFold]

Thanks Doug. Sounds like we should check in the Sandbox first.