Enables you to distribute the Contract Entered revenue amount on the Billing tab.
Required for fixed fee / contract billing.
GL Account:
Typically, the income account credited with fixed fee revenue.
Entity:
This field defaults from the Job Cost Code record when the Job Cost Code Id is entered.
DB Amount: CR Amount:
Enter the amount that should be debited or credited from this account. Typically, an income account would be credited.
Job Cost Code Id:
The Job Cost Code to be charged for this fixed fee billing. If you clicked the Compute GL button on the Main tab, the system will create these entries for you for the Job Billing Items being billed. The Job Cost Code (which will set the GL Account) will default according to the following rules:
1) Budgeted Revenue: If the Job Billing Item being billed has a Revenue budget, income will be allocated to the GL Accounts and Entities specified in the Cost Codes specified in the Revenue budget in the same proportion as the Revenue budgeted entries (for example, 60% to Cost Code A, 40% to Cost Code B).
A) If no Budget Revenue exists and only Budget Cost are set up, Income will be allocated to the GL Accounts and Entities specified in the Cost Codes in the same proportion as the Budgeted Cost entries by Code Code (X% to Cost Code A, Y% to Cost Code B, etc.).
B) If both Budget Costs and Budget Revenue are set up, Income will be allocated based on the Budget Revenue Amounts by Cost Code, as described above in 1).
C) If only 1 Budget Revenue Amount is entered, but budgets costs exist for multiple Cost Codes, Income will be allocated to the one Cost Code with the Budget Revenue.
2) Costs Being Billed on Current Invoice: If the Job Billing Item being billed has no budget, allocate the entries based on actual costs on the current invoice.
3) Projected Cost: If you are invoicing before costs, and have no budgeted revenue, the allocation is based on the projected cost to complete of the Billing Item being billed.
4) If the system finds no job history for the Billing Item being billed, the Job Cost Record flagged as Default for AR Post will default.
5) If all of the first four allocation methods fail, the first Cost Code (with the lowest Id) will be selected.
Billing Item Id:
This field defaults in based on the Billing Items being billed when the Compute GL button is clicked, but may be changed by the user if needed.
Revenue Type Id:
For Fixed Fee jobs, this field will default to Contract.
Description
Reserved for reporting purposes.