Fixed contract projects are set up using the Project Allocated Revenue project type. Labor jobs assigned to this project use the Project Allocated Revenue billing type, and if any reimbursable expense jobs are included, they use the Project Transaction Level billing type.
Complete these steps in the exact order shown below. Project bill codes are not added until later in the setup process. If the project contains reimbursable expenses, those bill codes will be set up before the project bill codes.
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Step 1: Set up a fixed project
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Repeat the steps above to add more bill codes, as needed. The allocated revenue for all bill codes must add up to 100%.
Step 5: Allocate revenue percentage to job(s) per bill code
In this step, you will distribute the revenue from each bill code across jobs, by entering the percentage or dollar amount allocated per bill code for that job. For example, if project bill code A is $400.00, and you want 50% of that amount to be allocated to job A, you would enter 50.00 or a dollar amount of $200.00.
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When projects and jobs have been set up, and billing amounts have been determined, you are ready to create invoices to send to the customer. You create invoices using the Project Invoice Entry window. Use the Project Transaction Level Billing window to exclude/include transactions associated with the Bill Code. See Working with Project Transaction Level Billing.
Step 8: Post the batch and view billed amounts
After you post the project invoice batch, you can view the updated billed totals in the project bill codes.