Setting Up Allocation of Fee Revenue by Billing Category
As part of configuring Billing, you may decide to post fee billed revenue to separate revenue accounts either for revenue categories or for labor, consultants, and expenses billing categories, with the posted amounts calculated based on fee allocation information that you enter in project billing terms.
Enable the Option in Billing Setup
To enable this option for your company, select Enable Entry of Fee by Billing Category under Invoice Posting on the Fees tab of Billing Setup ().
If your company is using revenue categories, go to the Revenue tab of the Accounting Company Settings form () and select fee billed revenue accounts for each of your revenue categories.
When you enable this option, existing projects are not affected. If you want to implement this option for an existing project, display that project’s billing terms, activate the feature on the Fees tab, and enter the fee information for the applicable billing categories.
For detailed instructions, see the Fees Tab of Billing Setup help topic.
Set Up the Option in Billing Terms
If you enable the option to enter fee information by billing category, the Allocate Billed Revenue on Fee Invoices Based on Category check box on the Fees tab of the Billing Terms form is selected by default when you set up new billing terms.
If entering fee information by category is not appropriate for the project, you can clear the check box. In that case, Vision posts fee billed revenue to a single account. (You cannot select Allocate Billed Revenue on Fee Invoices Based on Category for billing terms for which you select Unit Based in Fee Basis, or for billing terms with both Percent Complete by Phase, as Fixed Amount in Fee Method and scheduled billing enabled.)
If the option is appropriate for the project but you want to post revenue to accounts other than the default accounts, you can specify alternate accounts under Invoice Override Accounts on the Misc tab of the Billing Terms form.
When you select a fee method and fee basis on the Fees tab of the Billing Terms form, Vision displays the fields you use to enter fee information by category. Those fields vary based on the fee method and basis. For example, when you set up new billing terms for a fee with Overall Percent Complete in Fee Method and Lump Sum in Fee Basis, you enter the amount that each category will contribute to the total fee over the life of the project. The sum of those amounts is the total fee. In preparation for billing, instead of entering a single percent complete, you enter a percent complete for each category included in the fee, and Vision uses that to calculate the fee amount earned to date for each category. Alternatively, you can enter fee-to-date amounts for each category, and let Vision calculate the percents complete.
For projects for which you bill by billing phase, you can enter fee information by category for each billing phase.
Using this option for allocating fee billed revenue to revenue accounts does not affect the appearance of the invoice itself. Vision calculates and displays fee billed amounts, percents complete, prior billing totals, and so on, exactly the same on the invoices whether or not Allocate Billed Revenue on Fee Invoices Based on Category is selected.