Percent Completes for Individual Labor Codes and Expense Accounts
You can enter percent completes at the individual labor code and expense account level. Use this method when labor codes or expense accounts have different percentages of completion.
You enter individual percent completes in the % Complete field on the following Project Budget Worksheet tabs, as needed: Labor Billing, Expense Billing, Labor Costs, Billing Costs
Example
For example, if you enter individual labor and expense percent completes for each of your labor codes and account numbers, Vision calculates the project's overall percent complete as follows.
This example assumes that you have entered overall, labor, and expense percent complete information on the Project Budget Worksheet.
Labor Budget
| Labor Code | Labor Budget | Percent Complete | Earned Labor | Budgeted Overhead Percentage | Earned Overhead | ||
|---|---|---|---|---|---|---|---|
| A0000 | $2,500 | x | 20% = | $500 | x | 210% | $1,050 |
| A1000 | $4,000 | x | 30% = | $1,200 | x | 210% | $2,520 |
| $6,500 | $1,700 | $3,570 |
Expense Budget
| Account Number | Expense Budget | Percent Complete | Earned Expenses | |
|---|---|---|---|---|
| 511.00 | $1,000 | x | 45% = | $ 450 |
| 512.00 | $2,000 | x | 40% = | $ 800 |
| $3,000 | $1,250 |
Calculations
|
Total Earned Labor + Total Earned Overhead + Total Earned Expenses Total Project Earned |
$1,700 $3,570 $1,250 $6,520 |
|
Total Labor Budget + Total Overhead Budget + Total Expense Budget Total Project Budget |
$ 6,500 $13,650* $ 3,000 $23,150** |
| Total Project Earned/Total Project Budget = Overall Percent Complete |
$6,520/$23,150 = 28.16% |
* The Total Overhead Budget is determined by multiplying the Total Labor Budget ($6,500) by the Budgeted Overhead Rate (210%). The Total Overhead Budget in the above example is equal to $13,650.
** The Total Project Budget is the sum of the budgeted amounts in the Labor, Overhead, Direct Consult, Other Direct Exp, Reimb Consult, and Other Reimb fields.
Overhead Percentage Used
Vision uses the overhead percentage specified for the project record in the Project Info Center.
If no percentage is entered in the Project Info Center, Vision uses the overhead rate specified for the project’s organization.
If Vision does not find a percentage for either of these options, it uses the firm-wide rate specified in .