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Components of the Unbilled Balance

A description of the major components of the Unbilled Balance, as listed on the Detail report, follows:

Subsequent Billings

Billings posted after a specified ending subperiod are one of the major components of the unbilled balance. These are known as "Subsequent Billings." As part of the Update Unbilled Analysis Report Tables process, the ending subperiod for these subsequent billings is selected. This restricts the subsequent billings that are included on the report to billings that have been posted up to and including the selected subperiod. If you complete the process at the optimum time, a correlation between unbilled and subsequent billings is established. This does not imply that all amounts in Subsequent Billings are included the unbilled balance. Subsequent billings could include a milestone billing, a fixed amount, or another amount that may not be included in the unbilled balance.

In another issue related to proper timing, transactions included on posted bills that were not included in the Subsequent Billings cutoff show up in the Miscellaneous column rather than in the Transactions Not Billed column. This occurs because, although the transactions are no longer open, the bill on which they are included does not fall within the Subsequent Billing cutoff.

Current Year Rate Variance

This amount is the target or actual burden amount used for revenue calculations, less the burden amount for billing, for the current year. The amount is dependent on all pools established on the Manage Cost Pools screen. Therefore, if a pool is used for revenue calculation purposes but not for billing, the entire burden amount for that pool is included in the Current Year Rate Variance column.

Prior Yrs Rate Variance

This amount is the target or actual burden amount used for revenue calculations, less the burden amount for billing, for all years before the current year. There is not a separate column for each year, but rather a single column that sums all the prior years. Therefore, it is advisable to retain a final copy each year that reflects the rates used in the fiscal year close. The rate type used depends on the selection when the fiscal year is closed. The amount depends on all the pools established on the Manage Cost Pools screen. Therefore, if a pool is used for revenue calculation purposes, but not for billing, the entire burden amount for that pool is included in the Prior Yrs Rate Variance column. Likewise, if a project has accumulated burden costs for revenue purposes but has never been billed, the burden amounts for all pools are all included in this column.

Retainage

This amount derives from the Manage Project Bill Summary screen. This screen should be completed during initialization and is updated during the Post Bills process. It stores retentions on both the fee and total invoice.

Transactions Not Billed (Hours and Cost)

These amounts are taken from the Manage Open Billing Detail screen and include any transactions not included on a posted bill. As noted in the "Subsequent Billings" section, if a bill has been posted and not included in the subsequent billings cutoff, it appears in the Miscellaneous column rather than in the Transactions Not Billed column.

Some examples of Transactions Not Billed are:

  • Milestone billings
  • Award fees
  • Over-ceiling amounts
  • Costs on hold

Revenue Adjustments

The amount in this column is the sum of revenue adjustments computed for the current and prior years.  

Miscellaneous

This column is the Unbilled Balance less the sum of the components identified in the other columns.

Some examples of Miscellaneous amounts are:

  • Profit on rate variances
  • Retainage on subsequent bills
  • Prior year costs that have been initialized on the Manage Prior Year Cost and Revenue screen, but for which the associated transactions have not been initialized on the Manage Open Billing Detail screen.

Investigate this balance so that you feel comfortable with its contents.

Withholding Amount

This column is the withholding amount, in functional currency, for all standard bills posted in the specified fiscal year, period, and subperiod for this project.

Withholding Release Amount

This column is the withholding amount released, in functional currency, for all standard bills posted in the specified fiscal year, period, and subperiod for this project.