Contents of the Billing Terms Fees Tab Dialog Box
Use the fields and options to specify project and fee information.
Header Information
Field | Description |
---|---|
Fee Method | Select the fee method to determine how Vantagepoint extends fees on the invoice. |
Fee Basis | Select an option to determine how to calculate the fee for a project.
If you are not allocating billed revenue based on billing category, you can select Unit based for all fee methods except No fee billing or Percent Complete by Phase, as Fixed Amount. If you are allocating billed revenue based on billing category, you cannot use this fee basis. |
Est Construction | Enter the estimated total construction cost for the project.
This field displays only if you select Percent of construction as the fee basis. |
Fee Percent | Enter the percentage of the estimated construction costs that represents the total fee to be billed to the client.
This field displays only if you select Percent of construction as the fee basis. |
Unit Quantity | Enter the total number of units for which you will bill the client (total square footage, for example).
This field displays only if you select Unit based as the fee basis. |
Unit Price | Enter the price per unit (billing amount per square foot, for example).
This field displays only if you select Unit based as the fee basis. |
Label | Enter the unit label (Square Feet, for example).
This field displays only if you select Unit based as the fee basis. |
Fee | If
Allocate Billed Revenue on Fee Invoices Based on Transactions is not selected, enter the total fee amount.
If that option is selected, Vantagepoint displays a Fee field for each billing category or revenue category and you then enter the fee amount to allocate to each category. If this field does not apply for the combination of billing term options that you select, it is not displayed. |
Percent Complete | If
Allocate Billed Revenue on Fee Invoices Based on Transactions is not selected, enter the overall percent complete for the project in this field.
If that option is selected, Vantagepoint displays a Pct Compl field for each billing category or revenue category. Enter the percent complete for each category. This field is always synchronized with the Fee to Date field. If you enter a percentage in this field, Vantagepoint calculates and displays the fee-to-date amount, and if you enter an amount in Fee to Date, Vantagepoint calculates and displays the percent complete. If this field does not apply for the combination of billing term options that you select, it is not displayed. |
Fee to Date | If
Allocate Billed Revenue on Fee Invoices Based on Transactions is not selected, enter the amount of the fee your company has earned to date.
If that option is selected, Vantagepoint displays a Fee to Date field for each billing category or revenue category. Enter the fee earned to date for each category. Vantagepoint calculates the fee amount for the invoice as Fee to Date – Billed to Date. As a result, you can use this field to control the amount that appears on the invoice. For example, if your billing currency is dollars, you can ensure that the fee on the invoice is displayed in whole dollars. This field is always synchronized with the Percent Complete or Pct Compl field. If you enter an amount in this field, Vantagepoint calculates and displays the percent complete, and if you enter a percentage in Percent Complete or Pct Compl, Vantagepoint calculates and displays the fee-to-date amount. If this field does not apply for the combination of billing term options that you select, it is not displayed. |
Prior Fee Billing | If
Allocate Billed Revenue on Fee Invoices Based on Transactions is not selected, enter the total amount of the fee your company has billed for the project to date.
If that option is selected, Vantagepoint displays a Prior Fee Billing field for each billing category or revenue category. Enter the amount of the fee billed to date for each category. If this field does not apply for the combination of billing term options that you select, it is not displayed. |
Show Fee | Click this button to see the fee calculation for this project. Vantagepoint displays the total fee, total earned, previous fee billing, and current fee billing. |
Allocate Billed Revenue on Fee Invoices Based on Category | This check box only displays if you select
Enable Fee Entry by Billing Category in the Fee Invoice Posting section of the Fee settings form in
.
Select this check box if you want to enter separate fee amounts for the project by billing category so that Vantagepoint can post fee billed revenue to more than one revenue account.
If you do not select this check box, fee entry by billing category is not available, and the related fields do not appear on this tab. This option is not available for default billing terms or reporting default billing terms. |
Allocate Billed Revenue on Fee Invoices Based on Transactions | This check box only displays if
Enable Fee Billed Allocation Based on Transaction Detail is selected on the Fee settings form in
.
Select this check box if you want to allocate and post billed fee revenue based on the detailed transactions associated with the invoice. If you select this check box, the fee amount is allocated to labor, consultants, expenses, and units based on the total amount of transactions for each of these billing categories. Those allocated amounts are posted to billed revenue accounts associated with the billing categories, either the default revenue accounts on the Accounts tab of the Billing Setup form or override accounts specified on the Misc tab of the Billing Terms form for the project. If you do not select this check box, the fee amount is not allocated by billing category. The entire fee amount is posted to the billed revenue account for fees specified on the Accounts tab of the Billing Setup form or to the override account specified on the Misc tab of the Billing Terms form for the project. To see the transaction detail included in the allocation of fee billed revenue for an invoice, generate the Invoice Transaction Detail report. This option is not available for default billing terms or reporting default billing terms. |
Enable Posting by Billing Phase | Select this option to post the current project’s billing phase fees to a sub-project, phase, or task, without manually adjusting the invoice. Where you can direct the postings depends on the current project:
This option is only available if the following are true:
|