The Revenue/Costs window is used to create a spending plan, track maintenance contract profitability, reconciling costs, billing, and revenue, view costs life to date, and view/edit revenue entered.

Revenue/Costs window overview

Columns in this window 

• 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.

Buttons on this window

• Costs Life to Date
  The Contract Costs Life to Date window displays the life to date cost amounts for the contract. See Tracking Maintenance Contract Profitability.
• Revenue Entered
  The Revenue Schedule window displays the revenue entered for the contract. If you are using the revenue schedule method of revenue recognition, you can edit the revenue schedule to either change an amount that is scheduled to be recognized and/or adjust an amount that has already been posted. See Editing the Revenue Schedule.