Setting Up Rule Templates In OpenAir Can Save Project Setup Time

Project setup in OpenAir typically includes billing rule setup and may also include recognition rules setup, if your organization performs revenue recognition in OpenAir.

Billing and recognition rules can be copied when a project is created from a template. The task structure of a project, however, may not be dependent on the contract terms of the engagement.

Billing rule and Recognition rule templates may be created independent of project task templates. Setting up separate Billing and Recognition rule templates according to your typical contract terms provides an ability to standardize contract term setup and ensure financial accuracy.

How

Set up templates with a good naming convention. Naming the templates by the type of rule or contract terms configured allows you to easily identify which rules are being copied to the project

Examples: RULE TEMPLATE – T&M, RULE TEMPLATE – Fixed Fee w/ Expenses.

Rule templates should only have billing and recognition rules as part of the template. A best practice for Fixed Fee rule setup is to enter a money value of 1 to make it apparent the value needs to be updated. Forecast reports or rule execution will display the 1 value which highlights the need for rule correction. A best practice for T&M rules is to use a standard rate card with money values of 1 for each job code. If the rate card or billing rates are not updated, the 1 money value will stand out as part of the forecast and initial invoicing activities as an error.

To use the templates, access the Financials menu in the project and select Billing or Recognition. In either case, a message stating that ‘This project has no rules’ will be displayed:

Click on the copy link in the message to display a copy from dialog form.  A recognition rule example is included here; the functionality works the same with billing rules copy.

 

Select the desired RULE TEMPLATE value and click Copy.

The rules from the template will be copied into the current project.  After the copy completes, the user is able to quickly update the information on the rule as necessary per the contract.