Percent Complete Contracts

You can calculate revenue for a project whose compensation is a fee that is calculated based on the project's percent complete.

Establish the fee on the Fees tab in Billing > Billing Terms. Select Overall Percent Complete as the project's Fee Method. Specify the fee as either a Lump Sum in the Fee Basis field or as an amount in the Fee field.

The project must have a revenue method that uses the project's percent complete. The revenue method can be standard or user-defined.

For example, the project can use revenue method P:

JTD Revenue = (Percent Complete*Compensation) + JTD Reimbursable Expenses

To use method P, you must recalculate and enter the project's percent complete on the Fees tab of Billing Terms before you run revenue generation for the project.

Method P gives you accurate project revenue numbers.

As a less precise alternative, you can use revenue method M:

JTD Revenue = (JTD Direct Labor x Multiplier) + JTD Reimbursable Expenses

This method uses data from these fields in Billing > Billing Terms:

• The Multipliers fields on the Labor tab.
• The job-to-date expense data in Expense Terms on the Expenses/Units tab.