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- Customer
Displays the customer on this contract. - Contract
Displays the contract ID and description. - Contract Revenue
This column shows the contract amount and percent distribution among cost categories based on the values in the Contract Amount Breakdown window. - Contract Costs Actual to Date
Shows all costs for the life of the contract. - Contract Costs Current Year
Shows the current year's costs. - Estimate, Hours
These columns contain your cost estimates for each cost category and your cost and hour estimates for each labor subcategory. - Forecast, Hours
When the contract is created, forecast costs equal estimate costs. Actual costs are later accumulated in this column automatically (when the Revenue/Costs window is opened), thereby measuring the accuracy of your estimates. You need values in the forecast column to calculate the contract earned amount and to close a contract. - Total
The first Total field has an expansion button that opens the Contract Amount Breakdown window where you can divide the total contract amount among the cost categories. - Hours
Contains the contract's hours to date and for the current year. Calculated Contract Earned: Based on the following equation: [Total contract recognized costs / total forecast costs] x contract amount = revenue recognized When using revenue schedule, this field is updated based on the contract's billing schedule as the revenue recognition process is completed.
Calculated Gross Profit
The Calculated Contract Earned minus the Total Cost.Revenue Recognized
Calculated based on the following equation when using percentage-of-completion: [Total contract recognized costs / total forecast costs] x contract amount = revenue recognized When using revenue schedule, this field is updated based on the contract's billing schedule as the revenue recognition process is completed.- Billed
Total amount of invoices created for the contract.
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