Job Revenue Recognition Groups Sub-Tab
This section includes the fields and descriptions for the Job Revenue Recognition Groups sub-tab.
| Field | Description |
|---|---|
| Detail Level 1 | This field shows the dimension value of the first revenue recognition detail level. The general dimension value is specified in the first of the two job parameter attributes “Detail By” in the job parameter Revenue Recognition for the job in question. If you have, for example, specified the dimension value “Task” in that attribute, this field will show a grouping of the various tasks of the task list of the job which have been specified on the entries budgeted and registered on the job in question. See the introduction to this window for information about how entries to be recognized can be grouped into detail levels by means of the dimensions shown in this field.
If this field does not show any value, the revenue recognition level for the job displayed in the window might be at the job level, or the current line might contain information about a registration and revenue adjustment, if any, which is not covered by a revenue recognition detail level, that is, which is not assigned a task. See the description of the job parameter attributes “Detail By” in the job parameter Revenue Recognition in the window Job Parameters for further information about this attribute. |
| Detail Level 2 | This field shows the dimension value of the second revenue recognition detail level. The general dimension value is specified in the last of the two job parameter attributes “Detail By” in the job parameter Revenue Recognition for the job in question. See the description of the above field “Detail Level 1” for more information about this field. |
| Cost Basis, Budget | This field shows the total cost price of the hours and amounts budgeted for the detail level in question. The amount is derived from the budget specified in the job parameter attribute “Completion % Budget Type” or, if no budget has been specified in that attribute, from the attribute “Fixed Price Budget Type” assigned to the job. Together with the value in the field “Cost Basis, Registered,” this amount forms the basis of a calculation of the percentage to be recognized as revenue if the completion percentage on the job is to be calculated on the basis of cost prices. Whether the completion percentage of a job should be calculated on the basis of budgeted cost prices or budget billing prices is specified in the job parameter attribute “Calculate Completion % From” in the job parameter Revenue Recognition.
If a revision code has been selected, the budget with the specified code is used. Otherwise, the most recently approved revision of the job budget is used. If an approved revision of the job budget does not exist, the value in this field will be 0. |
| Cost Basis, Registered | Upon calculation this field shows the cost of the hours and amounts registered for the detail level in question up to the date specified in the field “Revenue Recognition Date.” If the completion percentage on the job is to be calculated on the basis of cost prices, this amount will together with the value in the field “Cost Basis, Budget” form the basis of the calculation of the amount to be recognized. Whether the completion percentage of a job should be calculated on the basis of budgeted cost prices or budget billing prices is specified in the job parameter attribute “Calculate Completion % From” in the job parameter Revenue Recognition. When you open this window, the field will show the cost basis from the last time the revenue recognition was calculated. |
| Percentage, New Revenue Recognition | In this field, you can specify how large a percentage of the detail level’s cost or billing price should be recognized as revenue. The percentage can be calculated by Maconomy, and it will then correspond to the ratio between the registered cost/billing price for the job and the budgeted cost/ billing price. The method specified in the job parameter attribute “Calculate Completion % From” assigned to the job in question determines whether the completion percentage of a job is calculated on the basis of budgeted cost prices or budgeted billing prices.
You can also enter a new percentage in this field, and the amount in the field “Amount, New Revenue Recognition” is then updated to correspond to the specified part of the price of the detail level. If the job is a fixed-price job, the maximum percentage in this field is 100%. If the job is a time and material job, the percentage can be anything from 0 and up. The revenue recognition limit applying to each detail level is determined by the value entered in the field “Completion % Limit” on the line. See the description of the fields “Limit Revenue recognition” and “Completion % Limit” for more information about limiting completion percentages. Note that if the job has “Quote” status, the percentage must be 0 in this field. |
| Amount, New Revenue Recognition | This field specifies the size of the amount to be recognized as revenue. The amount can be calculated by Maconomy, and it will then correspond to the percentage of the price of the detail level shown in the field “Percentage, Recognized As Revenue.”
You can also specify an amount manually, and the percentage in the field “Percentage, Recognized As Revenue” is subsequently updated to correspond to the specified amount. If the job is a fixed-price job, the amount specified cannot exceed the fixed price of the job as shown in the field “Fixed Price Basis.” If the job is a time-and-material job, the values entered in the field “Limit Revenue Recognition” and “Completion % Limit” will determine the maximum amount to be entered in this field. Note that if the job has “Quote” status, the amount must be 0 in this field. |
| Percentage, Revenue Recognized | This field shows the percentage already recognized as revenue on the detail level in question. |
| Amount, Revenue Recognized | This field shows the amount already recognized as revenue on the detail level in question. |
| Percentage, Adjustment | This field shows the difference between the percentage of the fixed price of the job already revenue-recognized and the potential percentage that will be revenue-recognized if the current revenue recognition is performed. This field thus shows the balance between the fields “Percentage, Revenue Recognized” and “Percentage, New Revenue Recognition.” |
| Amount, Adjustment | This field shows the difference between the amount of the fixed price of the job already revenue-recognized and the potential amount that will be revenue-recognized if the current revenue recognition is performed. This field thus shows the balance between the fields “Amount, Revenue Recognized” and “Amount, New Revenue Recognition.” |
| Limit Revenue Recognition | In this field, you can choose whether the revenue to be recognized on the detail level should be limited by a given percentage. The percentage is specified in the field “Completion % Limit” on the line. If the job displayed is a fixed-price job, this field is automatically marked, and the mark cannot be removed, as the revenue to be recognized on a fixed-price job is limited to never exceed the fixed price of the job.
If the job is a time-and-material job, this field can be marked and unmarked manually. Whether the field is automatically marked on a time and material job is determined by the value specified in the job parameter attribute “Limit Revenue” in the job parameter type “Revenue Recognition” assigned to the job in question. If this field is marked, the revenue to be recognized on the line will be limited to be calculated on the basis of the fixed price of the job multiplied by the completion percentage limit specified in the field “Completion % Limit” on the line. See the description of the field “Completion % Limit” below for further information about limiting revenue recognition on a given job. If this field is not marked, there will be no limit to the revenue to be recognized on a time-and-material job. This means that the completion percentage of a time-and-material job can be larger than 100%, and hence that more than the “fixed price” of a time-and-material job can be recognized as revenue. |
| Completion % Limit | In this field, you can enter a completion percentage limit to apply to the detail level on the line. The value entered in this field will only apply if you have marked the field “Limit Revenue Recognition” on the line in question.
If the job is a fixed-price job, the value in this field can be a number between 0 and 100%. You cannot recognize more revenue on a fixed-price job than the fixed price of the job. If the job is a time-and-material job, the value in this field can be a number from 0% and up, as the revenue to be recognized on a time-and-material job is not necessarily limited to the “fixed price” of the job. If, for example, you enter the value 85% in this field, the revenue to be recognized on the line, be it assigned to a fixed-price job or a time-and-material job, cannot exceed 85% of the fixed price of the detail level in question. If, on the other hand, you enter the value 120% in this field, Maconomy will issue an error message as the completion percentage limit for detail levels assigned to a fixed-price job cannot exceed 100%. This because it is not possible to recognized more revenue than the fixed price of a fixed-price job. For time-and-material jobs, a limit of 120% means that 120% of the fixed price of the job can be recognized as revenue. The default value in this field is derived from the job parameter attribute “Compl. % Limit” in the job parameter type “Revenue Recognition.” However, this value can be changed manually. |
| Billing Price Basis, Budget | This field shows the billing price of the hours and amounts budgeted for the detail level in the budget specified in either the job parameter attribute “Completion % Budget Type” or in the job parameter attribute “Fixed Price Budget Type” for the current job. If the job is set up to have the completion percentage calculated on the basis of billing price, this amount will, together with the value in the field “Billing Price Basis, Registered,” form the basis of a calculation of the percentage to be recognized as revenue. |
| Billing Price Basis, Registered | Upon calculation this field shows the total billing price of the hours and amounts that are registered for the detail level up to the date specified in the field “Revenue Recognition Date.” If the job is set up to have the completion percentage calculated on the basis of billing price, this amount will, together with the value in the field “Billing Price Basis, Budget,” form the basis of a calculation of the percentage to be recognized. This is specified in the job parameter attribute “Calculate Completion % From” in the job parameter Revenue Recognition assigned to the job in question. |