Use the Budget & Revenue tab to enter compensation and fee amounts, revenue and charge types, units and multipliers, percent completes, and revenue upset limits for the current project. This tab is available if you use Vision Accounting.
The sum of the amounts in the
Compensation (Direct Labor plus Direct Expense),
Direct Consultant, and
Reimbursable Allowance (Reimbursable Expense plus Reimbursable Consultant) fields on the Budget & Revenue tab represent the total amount of fee that you expect to receive over the life of the project. The amount that is entered or displayed in each of these fields depends on your approach to project management. Use the following options to determine how these amounts are applied to Vision projects:
- If the
Project Fee Entering Method option on the General tab of
is set to
At all levels of work breakdown structure, all WBS level fees in the project are editable and will not roll up to a higher level.
- If the
Project Fee Entering Method
option on the General tab of
is set to At lowest level only (System will Automatically Update Higher Levels), all compensation will be summed to update the project's fees.
- If the
Synchronize fees from Contract to Project option is selected on the General tab of
, and the Include in Fees option is selected on the Contract Management tab, the fees from the Contract Management tab are synchronized with the associated fees in the Budget & Revenue tab.
Impact of Vision Planning Configuration Settings on the Compensation Values
When the
Plan Compensation Values by Row and Period,
Synchronize fees from Plan to Project, and Include in Utilization and Project Reports options are all selected, Vision synchronizes fees only for those of the project's WBS levels that match.
Contents
| Field | Description |
|---|
| Percents Complete
|
Use these fields to enter the percent complete for the
Overall,
Labor, and
Expense budgets. You can use these percentages in Accounting calculations like revenue recognition or consultant accruals, but can only view these percentages on project reports to compare percent complete to percent expensed.
|
| Overall
|
Enter an overall percent complete for the entire project. The percentage you specify here overrides the labor and expense percent seen on reports and used in calculations. The value that you enter in this field is entered in the
Overall Percent Complete fields on the Project Budget Worksheet.
|
| Labor
|
Enter the percentage of the labor completed for the project to date. Your entry must be a numeric value between 0 and 100. The value that you enter in this field is entered in the
Labor Percent Complete fields on the Project Budget Worksheet.
|
| Expense
|
Enter the percentage of the expense work completed for the project to date. Your entry must be a numeric value between 0 and 100. The value that you enter in this field is entered in the
Expense Complete fields on the Project Budget Worksheet.
|
| Budgeted Overhead Rate
|
Enter the budgeted overhead rate for the project, phase, or task. Use this field to override your company's standard overhead rate, which you define on the General Tab of Overhead Allocation Setup. You should enter a budgeted overhead rate for regular projects only.
If you use the assignment method for overhead allocation, Vision uses the budgeted overhead rate for both budgeting and allocation purposes. For all other overhead allocation methods, Vision uses the budgeted overhead rate to calculate the overhead amount only for the project budget.
If a project contains phases or tasks, you specify the budgeted overhead rate at the phase or task level, not at the project level.
|
| Revenue Method
|
Use this drop-down list to select a revenue type for the project, phase, or task. The revenue type you select determines how Vision recognizes revenue for the project as it accrues.
This field displays when the
Enable tracking of unbilled accounts option is disabled on the General tab of
.
Vision provides standard revenue types if the revenue generation feature is enabled.
If a project contains phases or tasks, you specify the revenue type at the phase or task level, unless the
Overall Revenue is set to
Calculation. If this is the case, you can also specify a revenue type at the project level.
|
| Multiplier or Amount
|
Enter the multiplier or amount by which to increase or decrease revenue for the project, phase, or task. Revenue method calculations that contain a multiplier or an amount use this field.
For example, if you select
Revenue Method M, (Job-to-date Direct Labor x Multiplier) + Job-to-date Reimbursable Expenses @ Cost Rates, and you want the multiplier to be two and one half times labor, enter 2.50 in this field.
If a project contains phases or tasks, you specify the revenue type at the phase or task level, unless the
Overall Revenue is set to
Calculation. If this is the case, you can also specify a revenue type at the project level.
|
| Service Profile
|
If you are using the Fee Estimates feature, use this drop-down list to select the service profile to assign to the project. Service profiles provide a standard fee structure that you can apply when building a fee estimate. Your system administrator configures the functional groups, cost groups, phases, and companies (if you use the Multicompany feature) for each service profile. See the Fee Estimate online help topics for additional information.
If you are using the German Scale of Fees (HOAI) feature with Vision Fee Estimates, the service profile options are pre-populated.
|
Project Currency Fields
| Field | Description |
|---|
| Project Currency
|
If you use the Multicurrency feature, this field displays the project currency as selected on the General tab of Project Info Center. This is the currency in which a project is managed, which may be different from the functional currency of the project’s home company. The Project Currency is defined at the WBS 1 level and is used on project reports and project planning.
You can also enter the appropriate amounts in the
Compensation,
Consultant, and
Reimbursable Allowance fields.
After data is posted, you cannot change the project currency for the project.
If the
Calculate revenue separately in billing, project and functional currencies option is selected on the Revenue Methods dialog box in Configuration, Vision calculates revenue in the project currency, billing currency, and functional currency. When this option is not selected, Vision calculates revenue in the billing currency and then uses the defined daily exchange rates to calculate the functional and project currency amounts from the billing currency amounts.
If a revenue method uses compensation, consultant, and reimbursable allowance as part of the calculation (as Standard Revenue Method P does) and is defined to calculate revenue separately in billing, project and functional currencies, it is important to define these values in project currency.
|
| Compensation
|
The compensation is automatically calculated based on the amounts entered for the labor services and direct expenses as follows:
Compensation = Direct Labor + Direct Expense
If you use Revenue Method P, (Pct Complete*Fee) + Job to Date Reimbursable Expense, this compensation amount is used as the fee figure in the calculation. If you use Revenue Method P, enter the compensation amount for labor services plus the direct consultant fee in this field and leave the
Direct Consultant field blank.
The sum of the amounts in the
Compensation (Direct Labor plus Direct Expense),
Direct Consultant, and
Reimbursable Allowance (Reimbursable Expense plus Reimbursable Consultant) fields on this tab represent the total amount of fee you expect to receive over the life of the project. The amount that you enter in each of these fields depends on your approach to project management.
|
| Direct Labor
|
Enter a monetary amount that represents the total direct labor.
|
| Direct Expense
|
Enter a monetary amount that represents the direct expenses.
|
| Direct Consultant
|
Enter the monetary amount that represents the direct consultant fees your company expects to receive for the project. The direct consultant amount should include fees for consultant work that are not reimbursable.
If you are using
Revenue Method P, leave this field blank and include the direct consultant fee in the amount you enter in the
Compensation field.
|
| Reimbursable Allowance
|
This field displays the monetary amount that represents your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees and is calculated as follows:
Reimbursable Allowance = Reimbursable Consultant + Reimbursable Expense
|
| Reimbursable Consultant
|
Enter a monetary amount that represents the consultant fees that will be reimbursed by the client.
|
| Reimbursable Expense
|
Enter a monetary amount that represents the expenses that will be reimbursed by the client.
|
| Total
|
This field displays the total of the amounts entered or automatically calculated in the
Compensation (Direct Labor plus Direct Expense),
Direct Consultant, and
Reimbursable Allowance (Reimbursable Expense plus Reimbursable Consultant) fields.
|
| Exchange Rate
|
If you use Multicurrency, the
Exchange Rate field displays for the
Project Currency.
When you post a transaction, Vision checks to see if the various currency types are the same. If they are not, Vision uses the
Exchange Rate field to specify the exchange rate you want to use when converting currency amounts. This is the rate Vision uses for the life of the project, rather than depending on the daily exchange rates defined on the Daily Exchange Rate table.
When using the
Exchange Rate field, Vision calculates exchanges between the transaction currency and the functional currency of the company that owns, via organization structure, the project, phase, or task charged by the transaction.
Example:
- Transaction currency is GPB
- Project currency is USD
- Functional currency is CAD
In the Transaction Center, you enter a voucher in GBP. Vision uses the daily exchange rates to convert this to the project's functional currency, which is USD.
Vision then converts the functional currency amount to the project currency, which is CAD. To complete this translation, Vision uses the exchange rate from the daily exchange rates table. However, if there, unless there is an override exchange rate defined in the project info center.
|
Billing Currency Fields
| Field | Description |
|---|
| Billing Currency
|
If you use Multicurrency, this field displays the billing currency for the project as selected on the General tab of Project Info Center. The billing currency is the currency used to generate invoices and project reports. One billing currency can be defined for the entire project and is defined at the WBS 1 level.
You can also enter the appropriate amounts in the
Compensation,
Consultant, and
Reimbursable Allowance fields.
After data is posted, you cannot change the billing currency for the project.
|
| Compensation
|
This field displays the monetary amount that represents the total compensation your company expects to receive for the project. The compensation is automatically calculated based on the amounts entered for the labor services and direct expenses as follows:
Compensation = Direct Labor + Direct Expense
If using Revenue Method P, (Pct Complete*Fee) + Job to Date Reimbursable Expense, this compensation amount is used as the fee figure in the calculation. If you use Revenue Method P, enter the compensation amount for labor services plus the direct consultant fee in this field and leave the
Direct Consultant
field blank.
This field is non-editable if the project's project currency matches the billing currency. The value displayed in this field will then match the value entered in the
Compensation field of the project currency.
|
| Direct Labor
|
Enter a monetary amount that represents the total direct labor.
This field is non-editable if the project's project currency matches the billing currency. The value displayed in this field will then match the value entered in the
Direct Labor
field of the project currency.
|
| Direct Expense
|
Enter a monetary amount that represents the direct expenses.
This field is non-editable if the project's project currency matches the billing currency. The value displayed in this field will then match the value entered in the
Direct Expense field of the project currency.
|
| Direct Consultant
|
Enter the monetary amount of the direct consultant fees that your company expects to receive for the project. The direct consultant fee amount should include fees for consultant work that are not reimbursable. If you use Revenue Method P, leave this field blank and include the direct consultant fee in the amount that you enter in the
Compensation field.
This field is non-editable if the project's project currency matches the billing currency. The value displayed in this field will then match the value entered in the
Direct Consultant field of the project currency.
|
| Reimbursable Allowance
|
This field displays the monetary amount that represents your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees and is calculated as follows:
Reimbursable Allowance = Reimbursable Consultant + Reimbursable Expense
This field is non-editable if the project's project currency matches the billing currency. The value displayed in this field will then match the value entered in the
Reimbursable Allowance field of the project currency.
|
| Reimbursable Consultant
|
Enter a monetary amount that represents the consultant fees that will be reimbursed by the client.
|
| Reimbursable Expense
|
Enter a monetary amount that represents the expenses that will be reimbursed by the client.
|
| Total
|
This field displays the total of the amounts entered or automatically calculated in the
Compensation,
Direct Consultant, and
Reimbursable Allowance fields.
|
| Exchange Rate
|
If you use Multicurrency, the
Exchange Rate field displays for the
Billing Currency.
When you post a transaction, Vision checks to see if the various currency types are the same. If they are not, Vision uses the
Exchange Rate field to specify the exchange rate you want to use when converting currency amounts. This is the rate Vision uses for the life of the project, rather than depending on the daily exchange rates defined on the Daily Exchange Rate table.
When using the
Exchange Rate field, Vision calculates exchanges between the transaction currency and the functional currency of the company that owns, via organization structure, the project, phase, or task charged by the transaction.
Example
- Transaction currency is GPB
- Project currency is USD
- Functional currency is CAD
In the Transaction Center, you enter a voucher in GBP. Vision uses the daily exchange rates to convert this to the project's functional currency, which is USD.
Vision then converts the functional currency amount to the project currency, which is CAD. To complete this translation, Vision uses the exchange rate from the daily exchange rates table. However, if there, unless there is an override exchange rate defined in the project info center.
|
Functional Currency Fields
| Field | Description |
|---|
| Functional Currency
|
This field displays the functional currency for the project. This is based on the organization to which the project, phase, or task belongs. The functional currency can differ at the lower WBS levels where project and billing currency are defined for the entire project (WBS1).
If you select the
Calculate revenue separately in billing, project and functional currencies option on the Revenue Methods dialog box in Configuration, Vision calculates revenue in the functional currency, project currency, and billing currency. When this option is not selected, Vision calculates revenue in the billing currency and then uses the defined daily exchange rates to calculate the functional and project currency amounts from the billing currency amounts.
If a revenue method uses compensation, direct consultant, and reimbursable allowance as part of the calculation (for example, Standard Revenue Method P) and is defined to calculate revenue separately in billing, project and functional currencies, it will be important to define these values in project currency.
|
| Compensation
|
This field displays the monetary amount that represents the total compensation your company expects to receive for the project. The compensation is automatically calculated based on the amounts entered for the labor services and direct expenses as follows:
Compensation (Direct Labor plus Direct Expense),
Direct Consultant, and
Reimbursable Allowance (Reimbursable Expense plus Reimbursable Consultant) fields.
This field is non-editable if the project's functional currency matches either the project currency or billing currency. The value displayed in this field will then match the value entered in the
Compensation field of the matching currency.
|
| Direct Labor
|
Enter a monetary amount that represents the total direct labor.
|
| This field is non-editable if the project's project currency matches either the project currency or billing currency. The value displayed in this field will then match the value entered in the
Direct Labor field of the project currency.
|
| Direct Expense
|
Enter a monetary amount that represents the total direct expenses.
|
| This field is non-editable if the project's project currency matches either the project currency or billing currency. The value displayed in this field will then match the value entered in the
Direct Expense field of the project currency.
|
| Direct Consultant
|
Enter the monetary amount of the direct consultant fees your company expects to receive for the project. The direct consultant amount should include fees for consultant work that are not reimbursable.
This field is non-editable if the project's functional currency matches either the project currency or billing currency. The value displayed in this field will then match the value entered in the
Direct Consultant field of the matching currency.
|
| Reimbursable Allowance
|
This field displays the monetary amount that represents your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees and is calculated as follows:
Reimbursable Allowance = Reimbursable Consultant + Reimbursable Expense
This field is non-editable if the project's functional currency matches either the project currency or billing currency. The value displayed in this field will then match the value entered in the
Reimbursable Allowance field of the matching currency.
|
| Reimbursable Consultant
|
Enter a monetary amount that represents the consultant fees that will be reimbursed by the client.
|
| Reimbursable Expense
|
Enter a monetary amount that represents the expenses that will be reimbursed by the client.
|
| Total
|
This field displays the total of the amounts entered or automatically calculated in the
Compensation (Direct Labor plus Direct Expense),
Direct Consultant, and
Reimbursable Allowance (Reimbursable Expense plus Reimbursable Consultant) fields.
|
Overall Revenue Field
| Field | Description |
|---|
| Overall Revenue
|
Select this option to enable the overall revenue upset limit feature for this project. When you select this option, Vision enables the Include in Limit fields.
If the project is at WBS level 2 or 3, then Vision defaults to the
Upset Limits option. You cannot modify this selection.
If the project is at WBS level 1, and you select the
Enable additional revenue calculations at project and group levels option on the Revenue tab of
, you can select one of the following methods for overall revenue.
The following settings are possible for this option:
-
Upset Limits — This is the default setting. Select this option at the WBS1 level to define a limit for the entire project. Vision calculates revenue at each of the lower WBS levels and then compares this value with the limit that you set in the Include in Limit section of this tab (which can be a combination of any of the values in the
Compensation,
Direct Consultant, and
Reimbursable Allowance fields). If the calculated revenue is higher than the compensation, the difference is posted to the adjustment phase and task. Select this option at the WBS2 or 3 level if you use the revenue by category feature and want to define a limit for the WBS level that includes multiple revenue categories. When you select this option, Vision enables the
To Adjust fields and the Include in Limits fields.
- Calculation — Select this option to calculate overall revenue at the project level. Vision will calculate the revenue at each of the lower WBS levels and then compare to the value of the revenue calculation defined at the project level. When you select this option, Vision enables the following fields:
Revenue Method or
Revenue Categories if you use Revenue Categories;
To Adjust fields. If you select this option, but the project is already listed as a subproject for a revenue group, Vision displays the following error message:
This project is already associated with a Revenue Group. Overall revenue calculation is not allowed.
|
| To Adjust
|
These fields are required if you enable the overall revenue upset limit feature for this project. These fields calculate overall revenue for all subprojects that are part of a revenue group for the specified revenue type. If there are differences within the calculations, Vision posts to the
Phase,
Task, or
Category fields within the
To Adjust group box.
|
| Phase
|
Select the phase you want to use as the adjustment phase for this project.
The adjustment phase is the phase where Vision posts the negative revenue amount needed to keep the project's total revenue within the upset limit. Deltek recommends that you define a separate phase solely for this purpose. The revenue method for this phase should be
N (no revenue recognition).
|
| Task
|
This field is required if the
Phase to Adjust has tasks.
Select the task you want to use as the adjustment task for this project. The adjustment task is the task where Vision posts the negative revenue amount needed to keep the project's total revenue within the upset limit.
|
| Category
|
This field displays if you use revenue categories. Select a revenue category to adjust to determine the unbilled revenue and unbilled services accounts that are used for the adjustment when the revenue limit is reached.
|
Include in Limit Fields
| Field | Description |
|---|
| Include in Limit
|
Vision selects these options by default when you select
Upset Limits as the
Overall Revenue type. You can add or remove the selections by these options depending on what you want to include when Vision calculates revenue. If the calculated revenue is higher than the compensation, the difference posts to the adjustment phase and task.
|
| Compensation
|
Select these options to include the project's compensation in the project's revenue upset limit calculation. Vision selects these options by default.
|
| Direct Consultant
|
Select this option to include the project's direct consultant fees in the project's revenue upset limit calculation. Vision selects this option by default.
|
| Reimbursable Allowance
|
Select these options to include the project's reimbursable allowance in the project's revenue upset limit calculation. Vision selects this option by default.
|
Revenue Categories Fields
| Field | Description |
|---|
| Revenue Categories
|
Revenue methods are formulas used for calculating revenue when you run Revenue Generation. After you consider a project's contract type and other factors, you assign a Revenue Method that will accurately recognize each category's revenue. You establish these categories on the General tab of
.
Each category’s revenue method calculates Job to Date revenue independently of other categories when Revenue Generation is run. If a project contains phases or tasks, you specify the revenue method for each category at the phase or task level, not at the project level.
|
| Labor
|
Select the revenue method. This drop-down list lists all revenue methods defined as labor in configuration.
|
| Consultant
|
Select the revenue method. This drop-down list lists all revenue methods defined as consultant in configuration.
|
| Expense
|
Select the revenue method. This drop-down list lists all revenue methods defined as reimbursable in configuration.
|
| Revenue Method 4
|
Select the revenue method. This drop-down list lists all revenue methods defined as unit in configuration.
|
| Revenue Method 5
|
Select the revenue method. This drop-down list lists all revenue methods defined as other in configuration.
|