Overview:
For a cost plus/time and materials project, PENTA's earned revenue calculation is as follows:
- Earned Revenue = 'Billed to Date' + 'Markup on Unbilled Cost'
For the 'Markup on unbilled cost' portion, PENTA will calculate this markup based on the pricing schedules that are assigned to the project. This process walks us through how to review, update, and assign pricing schedules.
Benefits:
- Ensure the revenue recognition calculation is complete and accurate
Roles:
- Operations/Project Administrator
- AR/Billing Clerk
Location:
- Billing & Accounts Receivable > Customer Information > Customers
- Project Management > Jobs > Job Information
- Project Management > Owner Contract Information > Cost Plus / T&M Pricing Schedules
Video: