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The Schedule of Values window simplifies maintenance of contract line items. It is for entering contract lines (performance obligations) that will show on an invoice. The flexibility exists to create many lines with different amounts for the contract or one line for the entirety of the contract, depending on the complexity of the contract, performance obligations, and customer requirements. The Type of contract line (Lump Sum, Cost Plus/T&M, Unit Price, etc.) dictates the treatment for revenue recognition and billing purposes.
Benefits:
- Defines Contract Line Items and Contract Amounts for Billing Purposes
- Handles the setup of Lump Sum, Unit Price, Cost Plus, and Time and Materials billed jobs
Roles:
- Project Administrator
- Billing Clerk
Additional Content:
The Schedule of Values window coexists with the Contract Information window—in that you can change any values for fields not included in the Schedule of Values.
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Additionally, this window allows you to do the following:
- Create new contract line items.
- Link new or existing Cost Types and Costcodes to each line item.
- Remove existing Costcodes mapped to a given line item.
- View the Original Contract and any approved or pending changes to it.
Note: You cannot use this window to set up, maintain, or view Tax line items. Please refer to the Contract Information video page for more information on this window/process
Benefits:
- Defines Contract Line Items and Contract Amounts for Billing Purposes
- Handles the setup of Lump Sum, Unit Price, Cost Plus, and Time and Materials billed jobs
Roles:
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Location:
- Project Management > Owner Contract Information > Schedule of Values
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