Contents of the Revenue Settings Form

Specify the default settings for Revenue and related features, including the default accounts for unbilled services and uninvoiced revenue. You can also enable revenue generation and revenue categories on this form.

Contents

Field	Description
Unbilled Services	Enter the account for posting unbilled services. You can enter an account directly in this field, or click to select an account. Vantagepoint automatically posts invoices to this account when a project’s revenue method is N (no revenue recognition) or when Revenue Generation is processed and you track only one unbilled services account. This is the offset entry to the uninvoiced revenue entry. The default for this field is account 121.00, Unbilled Services in the Standard Chart of Accounts. If you modify the account number, the new account must first be set up in Settings > General Ledger > Chart of Accounts. If you use Revenue Generation and you track only one unbilled services account, enter that account in this field. If you use Revenue Generation with Revenue Categories enabled and you track more than one unbilled services account, use the Enable Tracking for This Many Revenue Categories list to select the number of multiple accounts that you want to track. Then enter multiple unbilled services accounts.
Uninvoiced Revenue	Enter the account for posting uninvoiced revenue. You can enter an account directly in this field, or use the lookup to select an account. Uninvoiced revenue is earned revenue that is more or less than the revenue already billed. For example, if your revenue method is W (Revenue = Job-to-date Billings + WIP @ Billing), your uninvoiced revenue is generally a positive amount, an addition to what you already billed (project expenses incurred that you have not yet billed). If your revenue method is P ((Percent Complete x Fee) + Job-to-date Reimbursable Expenses), your uninvoiced revenue may be a negative amount if you bill more revenue than you recognize. Vantagepoint automatically posts invoices to the uninvoiced revenue account when a project’s revenue method is N (no revenue recognition) or when Revenue Generation is processed (if you use Revenue Generation) and you track only one unbilled services account. The default for this field is account 402.00 Unbilled Revenue in the Standard Chart of Accounts. If you modify the account number, the new account must first be set up in Settings > General Ledger > Chart of Accounts. If you use Revenue Generation and you track only one uninvoiced revenue account, enter that account in this field. If you use Revenue Generation with Revenue Categories enabled and you track more than one uninvoiced revenue account, use the Enable Tracking for This Many Revenue Categories list to select the number of multiple accounts that you want to track. Then enter multiple uninvoiced revenue accounts.
Enable Revenue Generation Feature	Select Yes to enable the Revenue Generation feature. When you select this option, additional fields and options in this section are enabled.
Enable Revenue Categories	Select Yes to enable revenue categories. This allows you to use categories to track one or more unbilled services, uninvoiced revenue, and fee billed revenue accounts. Tracking these accounts provides more specific data for project reports because you can use additional calculations such as net revenue for labor, net revenue for consultants, and net revenue for reimbursables on your Income Statement. Selecting Yes enables the Revenue Categories section (with a revenue method field for each revenue category) on this form. For each revenue category, you can enter an unbilled services account and an uninvoiced revenue account. When you enable revenue categories, the Enable Additional Revenue Calculations at Project and Group Levels option displays. If you use multiple companies you enable the revenue category feature individually for each company in your enterprise. However, the labels for revenue categories and the user-defined revenue methods that you set up for revenue categories are applied system-wide to all the companies in your enterprise.
Enable Additional Revenue Calculations at Project and Group Levels	Use this feature to determine how revenue is calculated at different levels. When you select Yes, you have the following options in addition to calculating a project's revenue as the sum of its lowest WBS level: You can calculate revenue at the project level. The project level revenue is compared with the sum of the revenue calculated at a project's lowest WBS level. The difference is posted to an adjustment phase or task. The adjustment ensures that the revenue that is calculated by summing revenue at the lowest WBS level is made equal to the overall revenue calculated at the project level. The sum of the revenue for the lower WBS levels of a project will not match the revenue that is calculated at the project level when, for example, you use revenue method P (Percent Complete + Job-to-date Reimbursable Expenses @ Cost Rates) at the project level and revenue method W (Job-to-date Billings + Work-in-Progress (WIP) @ Billing Rates) at lower WBS levels. To set up this process, go to the Accounting tab of the Projects form in the Projects hub and select the Calculation option in the Overall Revenue field. The Calculation option displays only when you select the Enable Additional Revenue Calculations at Project and Group Levels check box, and it displays only at the project level. You can set up revenue groups for projects that are part of a group or contract. A revenue group includes a main project, subprojects, a revenue method for the overall revenue group, and an adjustment phase or task for the revenue group. Click Settings > Accounting > Revenue Groups to set up revenue groups. When you run Revenue Generation, JTD revenue is calculated as follows for revenue groups: Vantagepoint takes the sum of the revenue that is calculated for each subproject in a revenue group and compares this revenue amount to the revenue that is calculated for the overall revenue group. It posts the difference to an adjustment phase or task for the revenue group. The adjustment ensures that the revenue that is calculated by summing revenue for the subprojects is made equal to the overall revenue calculated at the revenue group level. When you select No, if you run Revenue Generation, a project's job-to-date revenue is calculated as the sum of the revenue at the project's lowest work breakdown structure (WBS) level. For example, if a project has tasks, the project's job-to-date revenue is calculated as the sum of the revenue that is calculated for each of its tasks. Multiple Companies/Currencies If you use multiple companies, you must run Revenue Generation separately for each company in your enterprise. See the discussion of Revenue Generation and multiple companies in the Concepts section of the help for information on how job-to-date revenue is calculated when you have projects whose phases and tasks belong to different companies or revenue groups whose subprojects belong to different companies. If you use multiple currencies, all the projects in a revenue group must have the same currency.
Enable tracking for this many revenue categories	If you want to use revenue categories and track more than one unbilled services and one uninvoiced revenue account, use this list to select the number of revenue categories to track. You can select up to five. When you select multiple revenue categories, the Unbilled Services and Uninvoiced Revenue fields display. Enter an unbilled services and uninvoiced revenue accounts in each field. When you enable revenue categories, the Revenue Categories section (with a revenue method field for each revenue category) displays instead of one Revenue Method field in the following locations: Accounting tab on the Projects form of the Projects hub Revenue Groups form in Settings > Accounting > Revenue Groups
Unbilled Services	Use the lookup to select the unbilled services account for each revenue category. Although it is not required, you should use a unique unbilled services account for each revenue category so that you can reconcile these accounts by category. The first three revenue categories are labeled Labor, Consultants, and Reimb. Revenue categories four and five are labeled Revenue Method 4 and Revenue Method 5. You can rename these five revenue categories in Settings > Labels and Lists > Labels.
Uninvoiced Revenue	Use the lookup to select an uninvoiced revenue account for each revenue category. The uninvoiced revenue account must be unique for each revenue category.
Fee Invoice Billed (for up to five revenue categories)	These fields display if you select Enable Tracking for This Many Revenue Categories on the Invoice Accounts settings form in Settings > Billing > Invoice Accounts and also select Enable Fee Entry by Billing Category on the Fee settings form in Settings > Billing > Fee. Use the lookup to select the revenue account to which you want to post fee billed revenue for each revenue category. You must also map these accounts in the Invoice Mapping Accounts grid of the Accounts Receivable settings form Settings > Billing > Accounts Receivable. Be sure to map them to the revenue category to which they are assigned in these fields. If you do not enter a fee billed revenue account for one or more revenue categories, Vantagepoint posts the revenue for those categories to the default fee billed revenue account specified on the Revenue settings form.
Calculate unbilled services gains and losses	These options display if you use multiple currencies. All revenue type Projects: Select this option if you want gains and losses for unbilled services to be calculated for all projects when you run Revenue Generation, regardless of a project’s revenue method. Revenue type B Projects only: Select this option if you want gains and losses for unbilled services to be calculated only for revenue method B projects when you run Revenue Generation. Revenue method B calculates revenue as equal to job-to-date billings. Selecting this option lets you give a project a revenue method other than B up until the point at which you need to calculate gains and losses for it.