to select, the valid project for which
you want to initialize data. The level of the project entered must be
the same level at which you are calculating the billing. The project name
displays in the field to the right.Use this table to review the history of posted bills and to initialize billing history during project setup. This table tracks the delivery, billed, and retained amounts by project, fiscal year, period, and subperiod.
The data in this screen is used by three processes, as follows:
Compute Revenue (Projects » Cost and Revenue Processing » Revenue Processing) – If you have selected Equal To Billings Before Retainage, Equal To Billings After Retainage, or Equal To Deliveries as the revenue formula for your project, the system will use the data in this to compute revenue. If you billed for your project before initializing Costpoint, you must summarize the inception-to-date billings and enter the total in this table before you compute revenue for the first time in Costpoint. You can use the last period of the fiscal year before Costpoint was initialized to enter the inception-to-date totals.
Create Unbilled Analysis Report (Projects » Billing » Unbilled Receivables) – The system uses the data in this table to derive Inception-to-Date (ITD) billings and retainage. The Create Unbilled Analysis Report process creates a table from which the Unbilled Analysis Report and the Unbilled Reason Code report is produced. If you plan to analyze unbilled receivables you must initialize inception-to-date billings for all projects in this screen. You can use the last period of the fiscal year before Costpoint was initialized to enter the inception-to-date totals.
Compute Cost of Goods Sold Entry (Projects » Cost and Revenue Processing » Project Cost Processing) - This process will use the data in this screen if you select a formula in the Cost of Goods Sold screen (Projects » Project Setup » Revenue Setup) that uses either billed amount or delivery amount. If you plan to use the Compute Cost of Goods Sold process for some of your projects, you must initialize inception-to-date billings and delivery amounts for those projects. You can use the last period of the fiscal year before Costpoint was initialized to enter the inception-to-date totals.
If you do not use any of the these processes, you do not need to initialize this screen.
The Post Standard Bills, Post Progress Payment Bills, Post Customer Product Bills, Post Project Product Bills, Post Manual Bills, and Post Milestone/Percent Complete Bills processes (all in Projects » Billing » Post Billings) update this screen during the posting process.
Enter data in this screen when you initialize Costpoint Billing. If you are initializing at the beginning of a new year, you may find it helpful to summarize the totals and enter one line under the last period of the previous year. No maintenance of this screen is required after initialization because it is updated by the posting processes.
Enter, or use to select, the valid project for which
you want to initialize data. The level of the project entered must be
the same level at which you are calculating the billing. The project name
displays in the field to the right.
Enter, or use to select, the fiscal year for the billing
amount to be entered. The fiscal year entered must exist in the Fiscal
Years screen in Costpoint General Ledger. The posting processes use the
fiscal year to which the bill was posted to update this screen.
Enter, or use to select, the period for the billing
amount to be entered. The period entered must exist in the Accounting
Periods screen in Costpoint General Ledger. The posting processes use
the period to which the bill was posted to update this screen.
Enter, or use to select, the subperiod for the billing
amount to be entered. The subperiod entered must exist in the Subperiods
screen in Costpoint General Ledger. The posting processes use the subperiod
to which the bill was posted to update this screen.
Enter the total shipment value of delivery invoices. This column is used only for projects that bill using form 1443, Contractor's Request for Progress Payment. It is updated by Delivery invoice postings from Project Product Bills and DD250 invoice postings from Costpoint Sales Order Entry in the Materials folder.
Enter the total amount that has been billed less sales tax or other charges. This should be the total of all invoices after any retainage or other withholding has been subtracted. No sales tax or other charges should be included in the amount entered in this field. The posting processes use the total amount billed less any tax or other charges.
Enter the amount that has been retained. This includes retentions on both the fee and the total invoice. Normally, the amount entered will be a positive number.
For example:
Total Invoice $7,000
Amount Retained 1,000
= Amount Billed $6,000
If you are entering a line for a project that bills using progress payments, do not use this field. The posting processes will update this field with the amount retained on each bill when it is posted.
This non-editable field displays the totals of the Delivery Amount, Amount Billed, and Amount Retained columns. To change the totals, you must edit the individual column amounts.
Changes to this screen update the PROJ_BILL_HS (Project Billing History) table.