Team,We utilize versions to manage rate increases at the start of each financial year, beginning on July 1st annually.To control the application of new rates for each financial year, we employ the "Forecast using Date Effective Rates" toggle at the project level.In testing, I observed that:When the toggle is activated and a task spans across the financial year, it appropriately applies different rate card versions before and after July 1st. However, when a task commences on or after July 1st, it consistently applies the new rate, irrespective of the toggle's status. This diverges from our expectations, as we anticipate the default rate card version to be utilized if the toggle is deactivated, regardless of when a task begins.Could you please clarify the expected behavior? Thanks,Cindy

Hi CindyThank you for posting this question.The planned budget for a work item, which is driven from the work item’s assignments is calculated as follows:if the toggle ‘Forecast using Data Effective Rates’ is NOT set, the calculations use the relevant rate that is applicable on the start date of the work item and applies that same rate for the entire duration of that work itemif the toggle ‘Forecast using Date Effective Rates’ IS set, then calculations use the applicable rates for each time period of the work item.I hope that explains.Limor

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Behavior clarification for "Forecast using Date Effective Rates" toggle

Forum|Forum|1 year ago
March 19, 2024
2 replies
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Cindy Chi
Bronze Active Participant

Team,

We utilize versions to manage rate increases at the start of each financial year, beginning on July 1st annually.

To control the application of new rates for each financial year, we employ the "Forecast using Date Effective Rates" toggle at the project level.

In testing, I observed that:

When the toggle is activated and a task spans across the financial year, it appropriately applies different rate card versions before and after July 1st.
However, when a task commences on or after July 1st, it consistently applies the new rate, irrespective of the toggle's status. This diverges from our expectations, as we anticipate the default rate card version to be utilized if the toggle is deactivated, regardless of when a task begins.

Could you please clarify the expected behavior?

Thanks,

Cindy

Best answer by Limori

Hi Cindy

Thank you for posting this question.

The planned budget for a work item, which is driven from the work item’s assignments is calculated as follows:

if the toggle ‘Forecast using Data Effective Rates’ is NOT set, the calculations use the relevant rate that is applicable on the start date of the work item and applies that same rate for the entire duration of that work item
if the toggle ‘Forecast using Date Effective Rates’ IS set, then calculations use the applicable rates for each time period of the work item.

I hope that explains.

Limor

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Limori
Planview Falcons
Answer
Forum|Forum|1 year ago
March 20, 2024

Hi Cindy

Thank you for posting this question.

The planned budget for a work item, which is driven from the work item’s assignments is calculated as follows:

if the toggle ‘Forecast using Data Effective Rates’ is NOT set, the calculations use the relevant rate that is applicable on the start date of the work item and applies that same rate for the entire duration of that work item
if the toggle ‘Forecast using Date Effective Rates’ IS set, then calculations use the applicable rates for each time period of the work item.

I hope that explains.

Limor

Limor Schmitz

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