Create Contract Rate Sheets

Create a customer contract with an approved billable project.

Configure the Contract Rate Sheet Event
business process and security policy in the Customer Contracts and Project Billing functional areas.

Security: Process: Billing - Rate Sheet
domain in the Customer Contracts and Project Billing functional areas.

Contract rate sheets enable you to set billing rates for billable projects. You can:

Populate the values of the contract rate sheet from the billing rate sheet for the project.

Apply a discount or premium to all resource rates using an adjustment percentage.

Apply the billing rate rules to the contract rates.

When you make changes to the contract rate sheet, Workday doesn't reflect the changes on your revenue recognition installments. To change your revenue recognition installments, access the

Schedule Revenue Installments for Billable Transactions

task.

Access the

Create Contract Rate Sheet

task.

You can access the contract rate sheet from the customer contract line. When you select a

Project Transaction Source

and a

Line Type

of Project Time and Expense
on the customer contract line, Workday enables the

Contract Rate Sheet

prompt. When enabled, you can access an existing contract rate sheet or create a new contract rate sheet.

As you complete the task, consider:

Option	Description
Effective Date	The effective date can't be in the past if it's already associated with a billable transaction. The billable transaction date determines which contract rate sheet and billing rate rule set to use.
Project Billing Rate Sheet	(Optional) Select a billing rate sheet to update the contract rates. Your selection controls the options available in the Rate Category Members prompt.
Is Daily Rate	Select this check box and complete the Time Definition tab to convert the hours worked to days. Workday doesn't support ad hoc project billing transactions for daily rates.
Transaction Grouping	Workday populates this field using the project billing rate sheet. You can select additional transaction groupings that you configured on the Maintain Daily Rate Transaction Groupings task.
Rate Category Members	Select from the rate dimensions defined on the project billing rate sheet.
Adjustment Percentage	Enter a positive or negative percentage to apply to all lines on the contract rate sheet.
Mutually Exclusive Rules	Select to apply the first applicable billing rate rule for each billing rate rule type. Workday automatically selects this check box when it's enabled on a rate sheet. You can clear this check box as needed.
Revenue Adjustment Reason	Select a reason to include when you create separate revenue installments for billable transactions with billing rate rule adjustments. Workday posts adjustments to the Revenue ledger account when you add Revenue Adjustment Reason as a dimension in your account posting rules.