Creating revenue formulas

If your firm wants to specify a unique way to calculate revenue, you can create formulas. The formulas you create will appear on the Project Command Center > Revenue tab when you assign the formula or formula + WIP method to a project or phase.

Before you begin

Verify that the following options have been set up:

• Select the formula or formula + WIP revenue method ( > Setup > Company > Preferences > Project tab).
• Enable the appropriate roles to have access to the Revenue Formulas menu option ( > Setup > Company > Roles > Company tab).
• Select over- and under-billed accounts for the Balance Sheet and deferred accounts for the Income Statement ( > Setup > Company > Preferences > Project tab).

To create revenue formulas

1. From the > Setup menu, select Company > Revenue Formulas.
2. Do one of the following:
   • To create a formula, click New in the upper right-hand corner and give the formula a descriptive name. Go to step 3.
   • To change the formula, click > Edit on the relevant formula line. Verify your edits by clicking Validate. Click OK to save your edits and return to the formula list.
   • To delete a formula, click > Delete on the relevant formula line and confirm that you want to delete it. Ajera deletes the formula immediately. You do not need to click Save.

3. Create formulas by expanding one or more of the categories and selecting from the available columns (listed below) and standard mathematical operators: + (to add), - (to subtract), * (to multiply), and / (to divide). Brackets are automatically added when you select from the list of available columns.

   Note:

   To break out amounts by activity type (labor, expenses, consulting), include the activity type in your formula.

   Formula Tags

   Revenue Start Date

   Revenue End Date

   General Information

   Activity Type Value

   Phase Level

   Phase Order

   Project Status Value

   Revenue Method Value

   Revenue Status Value

   Is Detail Phase

   People

   Billing Manager

   Principal In Charge

   Project Manager

   Dates

   Revenue Accounting Date

   Hours/Units

   Billed Hours by Accounting Date

   Current Billed Hours by Accounting Date

   Current Hours Worked by Accounting Date

   Current WIP Hours by Accounting Date

   Hours Worked by Accounting Date

   WIP Hours by Accounting Date

   Dollars

   Actual Revenue

   Billed by Accounting Date

   Committed Revenue

   Contract Amount

   Cost Budget

   Cost by Accounting Date

   Current Billed by Accounting Date

   Current Cost by Accounting Date

   Current Receipts

   Current Receivable Balance

   Current Spent by Accounting Date

   Current WIP by Accounting Date

   Current Written off by Accounting Date

   Estimated Revenue

   Over

   Prior Revenue Percent Complete

   Prior Revenue

   Project Percent Complete

   Receipts

   Receivable Balance

   Revenue Percent Complete

   Spent by Accounting Date

   Total Contract Amount

   Total Cost Budget

   Total Revenue Percent Complete

   Total Revenue

   Under

   WIP by Accounting Date

   Written off by Accounting Date

   Keys

   Billing Manager Key

   Phase Key

   Phase Parent Key

   Principal In Charge Key

   Project Key

   Project Manager Key

   Revenue Detail Key

   Revenue Key

4. To verify that you've written a valid formula, click Validate.
5. Click OK to save your formula.
6. To exit the Revenue Formula window and save all changes, click .
7. Associate the revenue formulas with a project's labor, expense, or consulting revenue, using the Revenue tab in the Project Command Center (PCC).