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Update, Map, Assign Pricing Schedules

Owned by Kyle Niekamp
Last updated: 06 20, 2022 by Claire Aleman

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:

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Penta Technologies continuously strives to improve customer content, therefore, information is subject to change at any time.