Adjusting prices on contracts

You can apply a price adjustment to a contract record to change the prices of its line items. You can raise or lower prices based on a percentage value.

About this task

In the Labor Rate Contracts application, price adjustments are made to entries for the rate schedule. You can make price adjustments to contracts with a status of draft, waiting for approval, or pending revision.

Procedure

  1. In a contract application, display the record that you want to update.
  2. Select the Apply Price Adjustment action.
  3. Select the line items that you want to update.
  4. In the Adjustment field, enter a percentage value.
  5. Click Apply. The asset management system calculates values for the New Price and New Unit Cost fields. In the Labor Rate Contracts application, the asset management system calculates a value for the New Standard Rate field.
  6. Click OK. The asset management system copies the values to the Unit Cost and Line Cost fields in the Contract Lines table window of the contract. In the Labor Rate Contracts application, the asset management system copies the value to the Standard Rate field of the Rate Schedule table window of the contract.
  7. Click Save Contract.


Feedback