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The Schedule of Values window is used 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 type of contract line (Lump Sum, Cost Plus/T&M, Unit Price, etc.) dictates the treatment for revenue recognition and billing purposes.

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• Defines Contract Line Items and Contract Amounts amounts for Billing Purposesbilling purposes
• Handles the setup of Lump Sum, Unit Price, Cost Plus, and Time and Materials billed jobs

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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.

Use this window to review Lump Sum, Unit Price, or Cost Plus/T&M contract line items for a job. If a PENTA user flagged the Job Type as Lump Sum or Cost Plus, PENTA automatically populates this window to equal the estimated job cost in the Estimate Worksheet window.

When you post entries to a job Job with a Job Type flagged as “Maintain Contract based on Estimated Cost,” PENTA will update contract amounts to match the current estimate for any contract line items cross-referenced to Costcodes in the batch. This occurs even if the contract did not match the estimate previously; PENTA does not use the amounts in the batch itself. PENTA also adjusts markup (dependent) contract line items for the jobJob. If the batch includes Costcodes not mapped to the Job’s contract line items, PENTA will notify you and open the Schedule of Values window for that Job when it completes the posting.

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Note: You cannot use this window to set up, maintain, or view Tax line itemsLine Items. Please refer to the Contract Information video page for more information on this window/process

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• Project Management > Owner Contract Information > Schedule of Values

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