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Administrator Guide
Last Updated: 2023-06-23
Steps: Set Up Project Pricing and Billing

Steps: Set Up Project Pricing and Billing

  • Create and approve a billable project.
  • Associate a customer contract with the billable project.
  • Create transactions to bill against the project.
As a project billing specialist, you can bill your customers for the work completed on a project using various rates and billing rules. You can also set effective dates on your contract rates. Workday uses the latest version of the rate sheet within the transaction date period when invoicing customers.
Example: You create a rate sheet with an effective date of December 1, 2020 and a rate of 100 USD. You update the rate sheet using the same effective date of December 1, 2020 and a new rate of 105 USD. Then, you add a new rate sheet with an effective date of January 1, 2021 and a rate of 110 USD. If you enter a time block for 1 hour on December 31, 2020, Workday uses the rate of 105 USD.
  1. (Optional) Access the
    Maintain Daily Rate Transaction Groupings
     task.
    You can group daily rate transactions for granular reporting. You can also view the groupings that you define on the project billing and contract rate sheets.
    Workday doesn’t support daily rate transaction groupings for ad hoc billable transactions.
    Security:
    Set Up: Project Billing - Rate Sheet
     domain in the Project Billing functional area.
  2. Define pricing categories and dimensions within those categories for the rate sheet.
  3. Link the standard rate sheet with project roles for the billable project associated with the customer contract.
Access the:
  • Manage Project Billing Transactions
     task to review and manage project billing transactions.
  • Create Customer Invoice Proposal
     task to create invoice proposals before invoicing.