Approved rates have been received for a prior year. That year is closed in Costpoint. What steps are needed for Billing and Revenue to reflect these rate changes?

1. Go to Projects > Cost and Revenue Processing > Cost Pool Setup > Cost Pools.   
   • Query the Cost Pools for the prior Fiscal Year.  
   • Using the Pool Rates subtask, input the YTD Provisional in the last period of the year.   
2. Go to Projects > Billing > Calculate Billings > Calculate Retroactive Billings.  
   • Select Indirect Costs and correct FY. In the Select Period for Rates box, enter the period that hold the new rates that were entered in step 1.  
   • Calculate the retroactive bill.  
   • This function compares what was previously billed to what should be billed with the modified YTD rates and creates a bill for the variance.  
   • Post the billing in the current year. Basically, this is a current year billing for cost from a prior year. 

1. Go to Projects > Cost and Revenue Processing > Cost Pool Setup > Cost Pools.
2. Query the Cost Pools for the prior Fiscal Year.  
3. Using the Pool Rates subtask, input the new rate in the YTD Target and > or YTD Actual rates.  
4. Manually calculate the impact of the rate change (the amount of the Retroactive Bill could possibly be used).  
5. Go to Projects > Project Setup > Revenue Setup > Basic Revenue Info and enter a revenue adjustment in the current year.  
6. Compute and post revenue in the current year > period.  

1. Go to Projects > Cost and Revenue Processing > Cost Pool Setup > Cost Pools.  
2. Query the Cost Pools for the prior Fiscal Year.  
3. Using the Pool Rates subtask, input the new rate in the YTD Target and/or YTD Actual rates.  
4. Compute Burden for the last period of prior Fiscal Year for all projects.  
5. Compute Revenue in the final period of the FY - Do not post.  
6. Determine the amount of additional Revenue to be posted by either previewing the Revenue Posting Journal or Updating the PSR's.  
7. Enter a Revenue Adjustment in the Basic Revenue Screen to reverse this additional Revenue amount.  
8. Compute Revenue in the final period of the FY.  
9. Validate there is no revenue to post when zero revenue amounts are included.  
10. Update PSR's and Create Project Report Tables.  
11. Review reports to ensure the reported Revenue agrees to what was posted to the General Ledger in the prior FY.  
12. Run Update Prior Year History.  
13. Enter a Revenue Adjustment in the current FY to offset what was entered previously.  
14. Compute and Post Revenue in the current FY.