Job Revenue Recognition Details Tab

This section includes the fields and descriptions for the Job Revenue Recognition Details tab.

Job Island

Field	Description
Job	This field shows the name and number of the current job.
Status	This is the current job status. When the job is created, it has “Quote” status, unless you have marked the “Created as Order” field in the System Information window. It is then only possible to make quotes from it, not invoices. This is done in the Quote Editing window. The job status can be changed to “Order” by selecting “Convert to Order” in the Action menu. The field can only have one of the two values mentioned. If the “Created as Order” field in the System Information window is marked, jobs are created with “Order” status, but only if the current user has been given access to convert jobs to orders in the Actions window in the Set-Up module.
Project Manager	This field shows the name and number of the employee who is specified as project manager on the job.
Invoicing Method	This field shows the invoicing principle applying to the job; that is, the field shows whether the job is a fixed-price job or a time and material job. The value is transferred from the job parameter “Pricing Principle” assigned to the job in question.
Fixed Price Basis	This field shows the fixed-price basis applying to the job; that is, the field shows whether the fixed price of the job is based on the latest approved budget of the job or the quote price of the job. The value is transferred from the job parameter “Pricing Principle” assigned to the job in question.
Customer	This field shows the name and number of the customer assigned to the job.
Company	This field shows the name and number of the company responsible for the current job. The value is transferred from the island Company in the window Jobs.

Budget, Fixed Price Island

Field	Description
Budget Type	This field shows the budget type which determines the fixed price of the job. The fixed price budget type of a job is determined in the job parameter Pricing Principle.
Revision No.	This field shows the revision number of the budget type which determines the fixed price of the job.

Budget, Completion Percentage Island

Field	Description
Budget Type	This field shows the budget type which determines the completion percentage of the job. The budget type on the basis of which the completion percentage of a job should be calculated is determined in either the job parameter Revenue Recognition or the job parameter Pricing Principle depending on the set-up of the job.
Revision No.	This field shows the revision number of the budget type which determines the completion percentage of the job.

Last Calculation Island

Field	Description
Revision Code	In this field, you can specify that revenue should be calculated on the basis of a specific revision of the latest approved job budget. If you specify a revision code in this field, revenue recognition will be calculated on the basis of the specified revision of the latest approved job budget, rather than the latest approved revision of the job budget. If you do not specify a revision code in this field, revenue recognition is automatically calculated on the basis of the latest approved revision of the job budget.
Revenue Recognition Date	In this field, you specify the date on which revenue should be recognized for the detail levels on the job. The revenue recognition is based on job entries that have been created up to and including this date. When the action “Calculate Revenue Recognition” is selected, the date specified in this field will hence be applied to the revenue recognition entries created.
Calculate Completion Percentage	If this field is marked, Maconomy will calculate the completion percentage of the detail levels displayed in the sub-tab when you select the action “Calculate Revenue Recognition.” If you do not mark this field, the calculation will not be performed, and you should then manually specify a completion percentage on each of the lines in the sub-tab. In this case, Maconomy calculates the completion percentage compared to the amount to be revenue recognized specified manually on the line in the sub-tab, and the fixed price. This field and the field “Calculate Revenue” below are marked by default. The mark should only be removed if you do not want to use a fixed percentage or a fixed amount, but instead you want to use the fixed price from a previous budget with a certain revision code.
Calculate Revenue	If this field is marked, Maconomy will calculate the amount to be recognized as revenue for each of the detail levels on the lines in the sub-tab when you select the action “Calculate Revenue Recognition.” If you do not mark this field, the calculation is not performed, and you should manually specify an amount to be recognized. In this case, Maconomy will calculate the completion percentage compared to the amount to be recognized specified manually on the line in the sub-tab, and compared to the fixed price.

Last Calculation, Triviality Limit Island

Field	Description
Amount	In this field, you can enter a triviality limit to apply to each adjustment entry made on the job. Any amount adjustment made which is less than this triviality limit will not result in the creation of an adjustment journal at approval of the revenue recognition. The triviality limit thus allows you to leave out amount adjustments which are considered too small when making revenue adjustments. Note that the triviality limit specified in this field is applied to each adjustment entry, that is, to the detail levels displayed on the lines in the sub-tab. The default value of this field is 0.
Currency	In this field, you can choose the currency to apply to the triviality limit specified in the above field in this island. The default value in this field is the enterprise currency of the system.

Revenue Recognized Island

Field	Description
Currency	This field shows the currency of the job. The amounts displayed in this island are displayed in the currency shown in this field.
Fixed Price	This field shows the fixed price of the job. A fixed price can apply to both a fixed-price job and a time and material job.
Date Revenue Recognized	Depending on whether you have marked the field “Show Latest Approved Revenue Recognition” in the island Calculate Revenue, this field shows either the date on which revenue has been recognized on the job or the date on which the revenue recognized on the job was approved. If the field “Show Latest Approved Revenue Recognition” is not marked, and you enter a date in the field “Revenue Recognition Date” in the island Calculate Revenue and subsequently select the action “Calculate Revenue,” this field will show the date on which revenue is calculated, that is, the date specified in the field “Revenue Recognition Date”
Current	The marking of the field “Show Latest Approved Revenue Recognition” determines the amounts displayed on the rows represented by the fields “Current,” “New,” and “Adjustment.” If you have not marked the field “Show Latest Approved Revenue Recognition,” the row represented by this field shows figures concerning the amounts and percentages currently recognized on the job. The column “Incl. In Fixed Price” shows the amount recognized as revenue originating from registrations which are part of the “fixed price” of the job. The column “%” shows the completion percentage of the amount currently revenue recognized on the job. The column “Not Incl. In Fixed Price” shows the amount recognized as revenue originating from registrations which are not part of the “fixed price” of the job, for example, outlay registrations made on the job. The column “Total” shows a summarized total for the amounts displayed on the row, that is, the sum of the fields “Incl. in Fixed Price” and “Not incl. In Fixed Price,” hence showing the total amount currently recognized as revenue on the job. If you have marked the field “Show Latest Approved Revenue Recognition,” the fields will show figures for amounts approved as revenue recognition on the job.
New	The row represented by this field shows figures concerning the new revenue which will be recognized on the job if the action “Approve Revenue Recognition” is selected; that is, the row reflects any changes made in the sub-tab. See the description of the above field “Current” for information about the figures shown in the different columns.
Adjustment	The row represented by this field shows figures reflecting the differences between the “Current” and the “New” figures in this island. Hence, this row shows the adjustments that will be made to the current revenue recognition if the action “Approve Revenue Recognition” is selected.
Budgeted	The row represented by this field shows job budget figures. The figures derive from the budget type which determines the fixed price of the job. The row thus shows both budget figures included in the fixed price and budget figures which are not included in the fixed price of the job.

Costs Island

Field	Description
Base Currency	This field shows the base currency of the job. The amounts displayed in this island are hence displayed in the currency shown in this field.
Budgeted	The row represented by this field shows costs currently budgeted on the job. The column “Incl. In Fixed Price” shows the total budgeted costs which are part of the “fixed price”’ of the job. The column “Not Incl. In Fixed Price” shows the total budgeted costs which are not part of the “fixed price” of the job, that is, budget entries made on outlay activities. The column “Total” shows a summarized total for the costs displayed on the row, that is, the sum of the fields “Incl. in Fixed Price” and “Not incl. In Fixed Price.”
Entered	The row represented by this field shows the costs currently registered on the job. See the description of the above field “Budgeted” for information about the figures shown in the different columns.
Completion Percentage	The row represented by this field shows the completion percentage for each of the three columns “Incl. In Fixed Price,” “Not Included In Fixed Price,” and “Total.” The completion percentage is calculated as the registered amount divided by the budgeted amount multiplied by 100%.

Billing Price Island

This island is structured like the Costs island, but instead of costs, it shows figures on budgeted and registered billing prices. See the description of the Costs island for more information about the figures displayed in this island.

Calculated Revenue Island

Field

Description

Show Latest Approved Revenue Recognition

If you mark this field, the figures in the island Revenue Recognized will show the date, amounts, and percentages for the latest approved revenue recognition carried out on the job in either this window or the window Job Revenue Recognition. If you do not mark this field and select the action “Calculate Revenue Recognition,” the figures in the island Revenue Recognized will display the amounts and percentages currently recognized as revenue on the job. Note that after having entered a new amount or percentage to be revenue-recognized on a line in the sub-tab, you must select the action “Calculate Revenue Recognition” before the new figures are displayed in the island Revenue Recognized.