The Default Rate for Budget feature allows project managers to choose between Bill Rate and Cost Rate as the standard rate option for budgeting. This determines how Project finances are calculated and displayed. By setting a default rate, budgeting becomes more consistent and aligned with the project's financial objectives, ensuring clarity and precision in financial planning and reporting.
Click the field to select the default rate.
If Cost Rates are selected, all Project Budgets will be updated to Cost Rates, which include Member Cost Rates and will be visible to all those who have the required permission.
The Project's Budget will, by default, open to Cost Rates.
