A downloadable document is also attached
This article will explain how to adjust timesheet cost rates.
**This function should only be available to KeyedIn Administrators or specific designated users and must be used with care”
The ‘Adjust Costs’ functionality can be used to adjust timesheet costs that have been approved/submitted.
To use the ‘Adjust Costs’ feature it will require a permission to be enabled under the Login Profile
In the Login Profile screen click on the ‘Setup’ tab and within here enable ‘Cost’
Once the changes have been made, click on Save and Close.
Logout and log back into KeyedIn to apply the change.
‘Adjust Costs’ will appear under the admin menu
In this scenario the user has been assigned a new cost rate, the change was made end of April however there are now timesheets entered in the month of April showing the previous cost rate so therefore these timesheets need updating to the new cost rate from 1st April onwards.
The rate will be adjusted using the ‘Adjust Cost’ functionality
In the Admin Menu select ‘Adjust Costs’
The following screen will be presented.
The ‘General’ tab shows the following options:
Operation : Option to change the ‘Cost Rate’ only or Change ‘Cost Code and Rate’
If ‘Change Cost Code and Rate’ Is selected then another filter will be presented:
‘New Cost Code’
Existing Cost Code: Select the existing cost code set for the resource
New Cost Code: Select the new cost code that will apply and replace the existing cost code
New Rate: Enter the new rate for the cost (Automatically inputs the rate when a new cost code is selected)
Change Timesheets Between: Select the timesheet dates period to confirm where the costs need to be adjusted
Only Updating: Options under here to select where the new cost rate needs to be applied.
‘Filter Restrictions’ tab shows the following options:
**Please note, if you wish to apply the change to specific resources and / or Projects, please select the resources and projects applicable to the change.
If no filter is applied, it will update all timesheet cost rates (selected cost rate) for all projects and resources.
To filter on a Resource and Projects, click on ‘Add’ and add in the desired Resources and Projects.
Adding a Resource:
Adding Project – Same steps applied
Under the General Tab: In this example the ‘Cost Code and Rate’ is being changed.
The new rate is automatically input depending on the ‘New Cost Code’
The final step is to click on ‘Adjust’
The system will notify once the costs have been adjusted:
To confirm the changes, The timesheet report can be rerun and as can be seen in the screenshot below the new cost rate has been applied:
**Please note making this change will NOT update the cost rates within the Resource record when the ‘Adjust Costs’ functionality is used. The costs will need to be updated manually
End Of Document