Review and Update Contract Lines on Jobs

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

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