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Administrator Guide
Last Updated: 2023-06-23
Create Fair Value Price Lists

Create Fair Value Price Lists

  • Create sales items.
  • Security: These domains in the Customer Contracts and Project Billing functional areas:
    • Set Up: Customer Contracts - Price Lists
    • Process: Revenue - Allocations
You can create fair value price lists to associate with your customer contracts. When you add sales items included in the fair value price list to the customer contract, Workday populates the fair values on the line.
You can configure fair value price lists by:
  • Currency
  • Contract Effective Date
  • Sales Item
  • Sales Item Group
  • Worktags
  1. Access the
    Maintain Fair Value Price List
     report.
  2. Click
    Add
    .
  3. As you complete the task, consider:
    Option Description
    Worktag Type
    Select worktag types that you want to associate with each item on the fair value price list.
    Percent or Amount
    The fair value price list can consist of percentage and amount values.
    • Percent - Enter a percentage to apply to the list or net item price on the contract line.
    • Amount - Enter an amount.
    Sales Item and Sales Item Group
    Workday uses the sales item and then the sales item group to determine the fair value amount to use.
    Related Sales Items
    You can link 1 sales item to another and calculate the fair value pricing based on the relationship.
    Worktags
    Select a worktag for each worktag type that you selected at the header.
You can associate the fair value price list with customer contracts when you select the
Multiple-Element Revenue Allocation
 check box on the contract.
Add a fair value price list to companies using the
Set Up Revenue Allocation Configuration
 task.