Use this subtask to review the calculation for the line 13 total on your 1443. Because these transactions are included on bills that have already been posted, each of the fields is display-only.
This non-editable field displays the project from the main screen. The project name displays in the non-editable field to the right.
This field displays the result of adding line 12a and line 12b.
This field displays line 5, Contract Price, from the Section I - Identification Information subtask.
This field displays the result of dividing the contract price by the estimated total Costs.
This field displays the result of multiplying line 11 by the loss ratio percentage.
This field displays line 6a, Progress Payment percentage, from the Section I - Identification Information subtask.
This field is determined by the amount of estimated costs and whether they have exceeded the contract price. If the estimated costs (line 12a added to line 12b) do not exceed the Contract Price (line 5), Total Eligible Costs (line 11) are multiplied by the Progress Payment rate (line 6a), to arrive at the line 13 costs. If the estimated costs exceed the Contract Price (line 5), a loss ratio percentage must be obtained by dividing the Contract Price by the estimated costs. This percentage is multiplied by the Total Eligible Costs (line 11) to reduce the total costs eligible for progress payment. The resulting amount is then multiplied by the progress payment rate to arrive at the line 13 costs.