Other Info

The functional currency is the currency that the entity's books and records are kept.  You establish your company's functional currency in the GL Settings screen.  

The billing or transaction currency is the currency in which the bill is produced.  

The Calculate Bills process (Projects\Process\Billing) will use the exchange rates that are selected in this screen to convert the bill from the functional to the billing currency.

Use Pay When Paid when you are not required or do not want to pay your vendors until you have been paid by the customer.  Pay when paid is generally used by companies that use subcontractors on their projects.

The pay when paid arrangement is generally agreed upon before the commencement of work.

Select the Freeze Multicurrency Rate checkbox if you do not want to have the open receivables for this project revalued at the end of the accounting period.  

The system revalues open receivables by updating the current exchange rate in the history tables.  The exchange rate that was used when the bill was posted is stored in the accounts receivable history tables.  If you select the Freeze Muticurrency Rate checkbox, the exchange rate that was used when the bill was calculated will not be changed.  Therefore, the open receivable will not be revalued.

Select this checkbox if you want this project's calculated billings to exclude any transactions that are outside the project's period of performance.

If you select this checkbox, the fiscal year, period, and subperiod of each transaction, as it was posted or entered in the Adjust Open Billing Detail screen (Projects\Process\Billing), will be evaluated for this project during automatic billing computations.  Any transactions outside of the project's period of performance will remain in Open Billing Detail until the period of performance is amended.

You can enter the period of performance in the Mods screen.

Select this checkbox if your project is subject to a Pay When Paid clause. The Pay When Paid feature restricts payments to vendors whose vouchers have charged this project until the customer has been invoiced and has paid for the services.

Enter the billing description or Statement of Work, up to 254 characters, that you want to print on the header of the bill.

The information entered here will be used for the Articles or Services section on the Form 1034. You can change this description in the Header subtask of the Edit Standard Bills screen (Projects\Transactions\Billing) before printing bills.

Use the drop-down box to select the billing currency for this project.

Multicurrency billing is available only for project product bills, customer product bills, standard bills, milestone bills, and manual bills. The system will calculate bills for this project in the currency entered here.  The functional currency automatically displays in this field, change it only if you want to produce your bill in a currency other than the functional.

The Calculate Bills screen (Projects\Process\Billing\Calculate Bills) will use the conversion rates associated with the Rate Group to convert the transactions from functional to billing currency.  To override this currency, use the Exchange Rates subtask of the Enter Project Product Bills (Projects\Transactions\Billing), Edit Customer Product Bills (Projects\Transactions\Billing), Enter Milestone/Percent Complete Bills (Projects\Transactions\Billing), or Enter Manual Bills (Projects\Transactions\Billing) screens.  

The only currencies available in the drop-down box are those that were saved in the Maintain Currencies screen.

Warning: Changing the billing currency for a project that has previous billings will result in incorrect cumulative billing figures.  You can use the Update Billing Currency Amounts toolkit in the Miscellaneous Toolkits screen to update the transaction currency in the billing history tables.

Use the drop-down box to select the default rate group for this project.

Multicurrency billing is available only for project product bills, customer product bills, milestone bills, and manual bills. To override this currency rate group, use the Exchange Rates subtask of the Enter Project Product Bills (Projects\Transactions\Billing), Edit Customer Product Bills (Projects\Transactions\Billing), Enter Milestone/Percent Complete Bills (Projects\Transactions\Billing), or Enter Manual Bills (Projects\Transactions\Billing) screens.

The only rate groups available in the drop-down box are those saved in the Maintain Exchange Rate Groups screen.

Select this checkbox to prevent the system from calculating unrealized gains or losses on open receivables for this project.

If you select this checkbox, the system will not calculate unrealized gains or losses for this project. The Update Open A/R Exchange Rates process will skip any receivables generated for this project. (The Update Open A/R Exchange Rates program updates each record in the Accounts Receivable tables with the most current exchange rate.) The Compute/Post Unrealized Gains and Losses program computes and posts the difference between the exchange rates when the bill was posted and the current exchange rate in the AR History tables. Since the Update Open A/R Exchange Rates process will skip this project, no unrealized gain or loss will be calculated for this project's open receivables.  

The records for this project, however, will be evaluated when you run the Compute/Post Unrealized Gains and Losses process. Therefore, if you have a unique rate you would like to use for your project, you can manually insert it into the Maintain AR History table and run the Compute/Post Unrealized Gains and Losses screen.

If you do not select this checkbox, the Update Open A/R Exchange Rates application will not skip the receivables generated for this project and the project's open receivables will be adjusted. This checkbox does not affect the Calculate Bills process (Projects\Process\Billing).

Select this checkbox if you do not want exchange rates applied when computing billings.

If you select this checkbox, the labor rates in the PLC Rates tables will be used on the bill. No rates will be converted. The non-labor amounts will be copied from the Accounts Payable tables. The transaction amount that was calculated when the voucher was entered will be used on the bill.

If you do not select this checkbox, the Calculate Bills program (Projects\Process\Billing) will convert the PLC rates and the non-labor transactions using the current exchange rates. This checkbox is available only if the billing formula is "Loaded Labor Rate" or "Loaded Labor Rates plus Cost Incurred on Non-Labor (T&M)."

The system will use a rate type of "T" from the PLC Rate tables to identify transactional billing rates. Make sure that the rates used for this project are set up with this rate type. To calculate a bill using transactional rates, you must select this checkbox and use a "T" rate type.

Select this radio button to update Open Billing Detail with the cost information when inventory is posted.

Select this radio button to update Open Billing Detail with the units information when inventory is posted.

Select this radio button to update Open Billing Detail with the account information when inventory is posted.

Enter, or use Lookup to select, the CLIN that will be inserted into Open Billing Detail during the posting if you have selected the Units radio button.  You must enter either a CLIN or a catalog, if you have selected the Units radio button. You cannot enter both a CLIN and a catalog on the same screen.

Enter, or use Lookup to select, the pricing catalog that will be inserted into Open Billing Detail during the posting when the Units radio button has been selected.

You must enter either a CLIN or a catalog if you have selected the Units radio button. You cannot enter both a CLIN and a catalog on the same screen.

This non-editable field displays the project that is associated with the selected CLIN. This field is not available if a Catalog has been selected.

Use this drop-down box to select a discount method for this project. If you choose to use a discount method, the system applies the following rules when computing revenue or calculating bills:

1. Burdens apply to the amount BEFORE discount.

2. Discounts apply to the direct cost amounts (this includes burdens for the "w/Burden" discount methods).

3. Fee applies to total AFTER discount.

4. Sales tax applies to the amount AFTER discount.

5. Retainage applies AFTER discount.  

For ceilings:

1. Account Ceilings are enforced before discounts are applied.

2. Project Total Ceilings are enforced after discounts are applied.

Note: If you change the revenue formula for a project, the system clears out the discount amount fields (DISC_ACT_AMT and DISC_TGT_AMT) in the PROJ_SUM and PROJ_BURD_SUM tables.

 

Warning: If you change the Discount Method for a project in this screen, you must also change the discount method for that project in the Other Info subtask of the Project Bill Info screen or the Revenue Info screen in the Project User Flow.

The selections are:

• None – Select this option if you do not want to apply discounts on this project. This is the default for new records.

• PLC Discounts – Select this option to apply discounts on labor rates by labor category. The discount percentage applies against the billing rates stored in the labor category rate tables. All of the billing rates still reside in the PLC rate tables, but a column exists to store the discount percentage. The Load Labor Rates process (Projects\Process\Billing) calculates the discounted billing rate and loads the original and discounted billing rates into the labor history and open billing detail tables. This is available only for standard bills.

Note: If you change the Discount Method from "PLC Discounts" to another method, the system resets the discount percentages to zero in the Project PLC Rates and Empl/Vend PLC Rates screens in the Project User Flow.

• Account Discounts – Select this option to apply a discount on labor and/or ODCs at the subtotal level. You can use accounts discounts only for standard bills. If you select this option, the system retrieves the discount percentage from the Account Discounts screen (Projects\Maintain\Billing) and applies it to specific accounts for each project. This is available only for standard bills.

• Aggregate Volume by Customer – Select this option to apply a discount on fees or labor that is tied to the aggregate volume of business with a particular customer.  For example, if the aggregate volume of orders is equal to $500,000.00 but less than $1,000,000.00, you could apply a discount amount of 1%. If the aggregate volume of orders goes up to $1,000,000.00 but is less than $2,000,000.00, you could then apply a discount amount of 2%. For a project to be included in the aggregate volume funded value computations for a customer, the Include in Aggregate Volume checkbox must be selected in the Govt Contract screen in the Project User Flow.

If you select this option, the Calculate Bills (Projects\Process\Billing) and the Compute Revenue (Projects\Process\Revenue) screens compute discounts based on aggregate volume using the discount percentage from the Customer Volume Discounts screen (Projects\Maintain\Billing) and apply the discount to the accounts specified. This is available only for standard bills.

• Aggregate Volume by Project - Select this option to apply a discount on fees or labor that is tied to the aggregate volume of business for a particular project. This method is similar to the "Aggregate Volume by Customer" discount method but is considered a project override.  For example, if the aggregate volume of orders is equal to $500,000.00 but less than $1,000,000.00, you could apply a discount amount of 1%. If the aggregate volume of orders goes up to $ 1,000,000.00 but is less than $2,000,000.00, you could then apply a discount amount of 2%. For a project to be included in the aggregate volume funded value computation, the Include in Aggregate Volume checkbox must be selected in the Govt Contract screen in the Project User Flow.

If you select this option, the Calculate Bills (Projects\Process\Billing) and the Compute Revenue (Projects\Process\Revenue) screens compute discounts using the discount percentage from the Project Volume Discounts screen (Projects\Maintain\Billing) and apply the discount to the accounts specified. This is available only for standard bills.

• Account Discounts w/Burden – Select this option to apply a discount on labor and/or ODCs at the subtotal level including the burden amounts associated with the direct costs. You can use accounts discounts only for standard bills. If you select this option, the system retrieves the discount percentage from the Account Discounts screen (Projects\Maintain\Billing) and applies it to specific accounts for each project.

The discount applies to the direct cost amount with burden included. This is available only for standard bills.

• Aggregate Volume by Customer w/Burden – Select this option to apply a discount on fees or labor that is tied to the aggregate volume of business with a particular customer.  For example, if the aggregate volume of orders is equal to $500,000.00 but less than $1,000,000.00, you could apply a discount amount of 1%. If the aggregate volume of orders goes up to $ 1,000,000.00 but is less than $ 2,000,000.00, you could then apply a discount amount of 2%. For a project to be included in the aggregate volume funded value computation for a customer, the Include in Aggregate Volume checkbox must be selected in the Govt Contract screen in the Project User Flow.

If you select this option, the Calculate Bills (Projects\Process\Billing) and the Compute Revenue (Projects\Process\Revenue) screens compute discounts based on aggregate volume using the discount percentage from the Customer Volume Discounts screen (Projects\Maintain\Billing).

 

The discount applies to the direct cost amount with burden included. This is available only for standard bills.

• Aggregate Volume by Project w/Burden - Select this option to apply a discount on fees or labor that is tied to the aggregate volume of business for a particular project.  For example, if the aggregate volume of orders is equal to $500,000.00 but less than $1,000,000.00, you could apply a discount amount of 1%. If the aggregate volume of orders goes up to $ 1,000,000.00 but is less than $2,000,000.00, you could then apply a discount amount of 2%. For a project to be included in the aggregate volume funded value computation, the Include in Aggregate Volume checkbox must be selected in the Govt Contract screen in the Project User Flow.

If you select this option, the Calculate Bills (Projects\Process\Billing) and the Compute Revenue (Projects\Process\Revenue) screens compute discounts using the discount percentage from the Project Volume Discounts screen (Projects\Maintain\Billing).

 

The discount applies to the direct cost amount with burden included. This is available only for standard bills.

Enter, or use Lookup to select, a Time & Materials (T&M) project that you want to link to this project.

Enter the default PLC discount percentage for this project. This is the default discount percentage for all of the PLCs assigned to the T&M Project, but you can manually change it in the Project PLC Rates screen for any exceptions. The Discount Percentage can be greater than 100% but cannot be negative.

Note: If you change the discount percentage in this screen, the system overwrites any rows that exist in the Project PLC Rates screen.