Project Inquiry window calculations

SUMMARY
This article explains the calculation of the different fields in the Project Accounting Project Inquiry window (Inquiry | Project | Project).

MORE INFORMATION
Here are calculations for the fields in the Project Inquiry window. The numbers listed are for each cost category.


1. Estimated Revenues = Forecast Billing Amount. This comes from the Budget Detail Entry window (Cards-Project-Project-Budget-highlight cost category and click on the expansion box)

2. Estimated Profit = Forecast Billing Amount – Forecast Total Cost. Also comes from the Budget Detail Entry window.

3. Revenue Earned = Amount of revenue that is earned. When this field gets updated depends on the project type:
a. Time and Materials/When Performed – when the cost transaction is posted
b. Time and Materials/When Billed – When the cost transaction is billed
c. Fixed Price/Cost Plus – When Revenue Recognition

4. Total Costs Incurred - Updated when a cost transaction is posted.

5. Cost of Revenues - This is recognized cost. When this field gets updated depends on the project type
a. Time and Materials/When Performed – When the cost transaction is posted
b. Time and Materials/When Billed – When the cost transaction is billed
c. Fixed Price/Cost Plus – When Revenue Recognition is run

6. Gross Profit/Loss = Revenue Earned – Cost of Revenues

7. Billed to Date = Total Billings to Date

8. Est. Cost to Complete = Estimated Revenues - Estimated Profits – Total Costs Incurred.

This article was TechKnowledge Document ID: 25380