Updating Historical Actual Costs

[KimberlyH026196]

Hello ServiceNow Community.

Previously we were not using rate model to calculate actual costs on resource plans in Yokohama SPM.  The rate model was set to the default $50.  The correct rate model is now set on the project record.  Using the related link, Recalculate Resource Costs, does not update historical actual costs.  How can the actual cost value be updated using the new rate model for historical time cards on current projects?  

Thank you for your help. 

[Matthew_13]

Hi Buddy,

Good question, Actual costs are calculated and stored at the time the time cards are posted, using whatever rate model was active at that point. Once those actuals are written, they are treated as historical financial data and are not automatically recalculated if the rate model is changed later.

The Recalculate Resource Costs action only updates planned and forecasted costs, not historical actuals.

There isn’t an out-of-the-box way to reprice historical time cards using a new rate model. The usual options are to either correct the rate going forward only, or, if the business requires it, perform a controlled one-time adjustment typically via a script or financial adjustment process with appropriate approvals.

So while the new rate model will apply correctly moving forward, updating historical actuals requires a deliberate, manual approach rather than a standard recalculation.

@KimberlyH026196  - Please mark Accepted Solution and Thumbs Up if you found Helpful