Overview:
In PENTA, contract line items link Jobs to Revenue calculation/entries. Contract Line Items can be set up in one of two screens: Schedule of Values or Contract Information. Once a contract line item is set up it can be maintained and updated using either screen, regardless of where it was originally set up. To change a contract amount, PENTA requires a change order be issued. Change Orders are set up through the "Change Request". From the "Change Request" screen user can update Contract Line Items, Committed Cost (POs/SC), and Cost Estimates.
To review Contract Line Items, the Revenue Analysis Workbench Report, which displays various revenue data by line item.
Common examples of Values found on this report include:
- Original Contract amount
- Approved Changes to the contract amount
- Total Current Contract amount (Original + Approved Changes)
- Billed amount
- Earned Revenue
- Over/Under Billed Amount
- Cash Receipt
Benefits:
- Tracks Revenue at the Job level through the user of contract line items
- Allows profit loss analysis at a line item by line item level
- Returns up to date financial data about all Jobs
Roles:
- Project Manager
- CFO
- Controller
Location:
- Project Management> Owner Contract Information> Schedule of Value
- Project Management> Owner Contract Information> Contract Information
- Project Management> Change Management> Change Request
- PM Financial Panel> Revenue Analysis Report
Video: