Skip to main content
Planview Customer Success Center

Is it possible to specify an effective date that is in the past for a billing rate or cost rate?

It is possible to define new billing rates or cost rates with an effective date that is in the past. Only the effective date is taken into account, and not the date when a rate has been put into the system.

When a rate that has a past effective date is entered, the past time records will also be updated. The exception is when a time record has been invoiced or revenue has been recognized. In this case, the billing rate cannot be changed and only the cost rate will be updated.

Please note that billing and cost rate changes are applied to time records by a system update and therefore might not be visible immediately.