Effective management of billing rates is a critical aspect of project financials within NetSuite.
The Challenge in projects where the Billing Type is Charge-based, users often face a limitation— the inability to override employee billing rates on project tasks. The absence of the Unit Price field on the Assignee tab of the Project Task complicates the process of adjusting rates.
To circumvent this challenge, NetSuite provides a solution through the Time-Based Rule functionality. This allows users to establish billing rates for employees associated with the project, ensuring accurate charge generation based on the assigned rates.
Step-by-Step Resolution:
- Click ‘Edit’ on the project to initiate changes.
- Navigate to the Financial tab and select ‘Time-Based Rule.’ Click on ‘New Time-Based Rules.’
- Complete all necessary fields to define the Time-Based Rule.
- Under ‘Rate Basis,’ choose ‘Resources.’ This prompts the Resource Sublist to open.
- Within the Resource Sublist, select the relevant employee under ‘Name’ and assign the desired rate.
- Click ‘Save’ to confirm the Time-Based Rule setup.
Note:
When time is entered for the assigned employee, and a charge is generated, the billing rate will be based on the rate assigned in the Time-Based Rule.
This systematic approach empowers users to effectively manage billing rates in Charge-based Billing projects within NetSuite. By utilizing the Time-Based Rule functionality, project managers can ensure accurate charge generation, maintaining financial precision in dynamic project scenarios.