Page Comparison

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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
  Estimated cost and hour values initially default into the matching Forecasted Cost and Hours fields but the current Total Forecasted cost is used in the calculation of contract percent complete for POC Revenue Recognition.   
• 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 a revenue schedule, this field is updated based on the contract's billing schedule as the revenue recognition process is completed.Contract Recognized Costs / Total Forecast Costs] x Contract Amount = Revenue Recognized

• 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 a revenue schedule, this field is updated based on the contract's billing schedule as the revenue recognition process is completed.The revenue recognized (current year or contract-to-date) when using the following revenue recognition method:

  • Revenue Schedule
    The revenue recognized is based on the sum of the posted revenue schedule rows.

  • Percentage of Completion
    The revenue recognized is based on the revenue posted through the POC process. 

• Billed
  Total amount of invoices created for the contract.

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