Tips & Tricks Video: Sell Rate Locking


Sell Rate Locking allows you to change the project value without changing the sell rates of the locked items

If you need to submit your project in iterations to a client, or if they’ve requested an updated submission schedule with extra items, you may find sell rate locking an invaluable feature. It allows you to change the project value without changing the sell rates of the locked items. This is set up in spread nominations.

First, we’ll need to click on Edit so we can make changes.

The lock sell rates feature is available as a checkbox in the Properties pane. You can select one and click the lock sell rate box, or you can select multiple items and then click the lock sell rate box to lock the sell rates. Once locked, the Sell Rate Locked column in Spread Nominations will display a padlock on each locked line so you can easily review which sell rates have been locked and which are not. To unlock, highlight the lines you wish to unlock, click on edit, properties, then untick the Lock Sell Rate box.

Once an item sell rate has been locked, regardless of any changes made to the project, the sell rate of the line will remain at the value at which it was locked. In this sense, it’s similar to setting a nomination to nominate the rate of the item, at that sell rate.

Let’s see a simple example of this working.

In Spread Nominations, note the sell rate of item 1, $53.60, and item 3, $86.50. Let’s lock item 1 on line 2 with a Sell Rate of $53.60. Let’s navigate to the workflow menu, then the project summary window, select edit and add an additional margin adjustment. Let’s increase the margin adjustment from 25,000 to 50,000. Once we save that change, a new spread calculation will run. If we navigate to the spread results window, what we’ll see is that the Sell Rate and Sell Total of nearly all the items have increased slightly, except for item 1, which has the sell rate lock applied. The Sell Total for item 3 rose from $17,646 to $18,901. The Sell Totals for items 8 to 15 did not change because they already have a set nominated rate or nominated percentage.

At any point, we can navigate back to the spread nominations window and remove the sell rate lock. And again, when you click on Save, a new spread calculation will run. Back in Spread Results, let’s Refresh the window then review the updated sell rate and see the new total for item one is $1,033.

If you change the nomination type or the nomination value after a sell rate has been locked, the locked sell rate will not change.

Sell Rate locks are essentially the same function as Nomination Value. In the spread calculation order, Sell Rate locks are processed immediately after Nomination Values, but before any other items.

And that’s working with Sell Rate Locking.