What is Resource Cost Rates in SAP SRD-FIN-COR - FIN-Cost and Revenue?

SAP Term: Resource Cost Rates

• Component: SRD-FIN-COR

• Component Name: FIN-Cost and Revenue

• Description: A work center view that displays, and enables you to change, cost rates assigned to resources for future periods.

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• Key Concepts: 
  Resource Cost Rates are used in SAP to assign costs to resources. This is done by assigning a cost rate to each resource, which is then used to calculate the total cost of the resource. The cost rate is based on the type of resource, such as labor, materials, or overhead. The cost rate can also be adjusted for different types of resources, such as different types of labor or materials. 
  
  How to use it: 
  Resource Cost Rates are used in SAP to assign costs to resources. To use Resource Cost Rates, first select the resource type and enter the cost rate for that resource. Then enter the quantity of the resource and the total cost will be calculated automatically. The cost rate can be adjusted for different types of resources, such as different types of labor or materials. 
  
  Tips & Tricks: 
  When setting up Resource Cost Rates in SAP, it is important to ensure that the cost rate is accurate and up-to-date. This will help ensure that the total cost of the resource is accurate and that no unnecessary costs are incurred. It is also important to review the cost rates periodically to ensure they are still accurate and up-to-date. 
  
  Related Information: 
  Resource Cost Rates are part of the SRD-FIN-COR FIN-Cost and Revenue Accounting component in SAP. This component also includes other features such as budgeting, forecasting, and reporting. For more information about this component, please refer to the SAP Help documentation.