Configure rate card expense generation

After assets or users are added to the rate card, you can use the Distribute cost field in the Financial section of the contract to generate rate card expenses.

Before you begin

Role required: financial_mgmt_user, asset, or contract_manager

Procedure

  1. Navigate to Contract Management > Contract > All.
  2. Select the contract to generate expenses.
  3. In the Contract Rate Card related list, select a rate card.
  4. In Distribute cost, select one of the following options to distribute the amount listed in Base cost.
    OptionDescription
    Split expense lines evenly across assets Select Allocate and distribute cost per asset.

    For example, with a $100 Base cost and two assets, two expense lines for $50 are created.

    Split expense lines across assets based on asset value Select Allocate and distribute cost based on value:.

    The Value field displays with Cost and Residual Cost options. The cost is derived from the Cost or Residual Cost field on an asset record. If there are multiple assets on the rate card, the cost or residual cost is distributed based on the value of the assets.

    For example, if you select the Cost option with a $100.00 Base cost, one asset worth $70, and one asset worth $30, two expense lines are created, one for $70 and one for $30.

    Split expense lines evenly across users Select Allocate and distribute cost per user.

    For example, with a $100 Base cost and two users on the contract, two expense lines for $50 are created.

    Allocate the cost to the contract instead of the individual assets Select Allocate cost to contract.
  5. Click Update.
    Expense lines are automatically generated by a scheduled job for costs incurred between the rate card Start date and End date. The scheduled job, Process FM Costs, runs on the Contract [ast_contract] table once per day. Expense lines are only generated from contracts with the Active or Expired state. You may want to generate expense lines for expired contracts to track previous expenses.