Support for multiple time units on a single price list

Project Service supports pricing resource time. Users may choose to set up prices in hours, days, or any other unit of time. One current limitation is that the unit of time is decided on the header of the price list, and can’t be changed on individual price setup lines for resource time.

With this update, each price list will allow you to specify prices for multiple time units. This is particularly useful for companies that operate across geographies with different labor laws and practices.

For example: When expressing rates for a “working day,” each division of a multi-national project service company might have its own definition of a working day. Its India division might work 8-hour days, while its Scotland division might work 7.5-hour days. With this feature, companies will be able to set up prices per day using the day unit that is specific to each division.

Ability to make copies of price lists by adding a markup percentage

Project Service allows you to make copies of price lists for ease of data creation and maintenance. You’re currently able to make copies of price lists in the same currency and time unit, or convert a price list in one currency and time unit to another by making a copy, using a different currency or time unit.

In these scenarios, the new price list is created by converting the currency and/or the time unit on the source to the currency and/or time unit specified for the target. This feature goes one step further by allowing users to specify a markup percentage when creating a new price list from an old one. This will be useful when creating new price lists for a future period by applying inflationary price changes.

Resolution of multi-currency cost price list on projects

Project Service resolves the price list for cost rates on projects by matching the currency of the organizational unit that owns the project to the price list currency. In the case where a price list may have prices in multiple currencies, it’s expected that there would be one master price list with cost rate lines in multiple currencies, and that this price list would be used by all projects globally.

In that situation, resolving a cost price list for a project using the currency on the header of the price list would not work. With this feature, it will be configurable to set up the default resolution of the project cost price list. The options available would be to match the project’s cost currency with the header of the price list as it works today or to use the globally managed price list regardless of its header currency.