Setting Up Allocation of Fee Revenue Based on Transaction Detail

As part of configuring Billing, you may decide to post fee billed revenue to separate revenue accounts for labor, consultants, expenses, and units, based on the transaction detail associated with the invoice.

Enable the Option in Billing Setup

To enable this option for your company, you complete the following steps on the Fees tab of Billing Setup (Configuration > Billing > General):

1. Under Invoice Posting, select Enable Allocation of Billed Revenue on Fee Invoices Based on Transactions Detail.

2. In Calculate Transaction Values At, indicate if you want Vision to calculate the value of transactions based on their billing values or their cost amounts.

3. In Over/Under Billed Account, enter the revenue account to which you want Vision to post the difference between the actual fee amount and the sum of fee billed revenue amounts calculated from transaction detail. Most companies use a labor billed revenue account.

4. Under Include Transactions From, select the transaction types you want to include in the calculation of fee revenue amounts.

   For example, if you select only Labor and Consultant - Direct, Vision only calculates fee revenue for labor and direct consultant expense, and only includes transactions for those two categories in the calculation. Transactions for the other billing categories are ignored, and no fee revenue is posted to the revenue accounts associated with them.

For detailed instructions, see the Fees Tab of Billing Setup help topic.

Apply to Existing Projects

When you enable this option, existing projects are not affected. If you want to implement this option for existing projects, do either of the following:

• Display each project’s billing terms and select Allocate Billed Revenue on Fee Invoices Based on Transactions on the Fees tab.

• Use the Search and Replace utility (Utilities > Advanced Utilities > Search and Replace) to select Allocate Billed Revenue on Fee Invoices Based on Transactions for multiple projects with one update process.

Select the Option in Billing Terms

If you enable the option to post fee billed revenue based on transaction detail, the Allocate Billed Revenue on Fee Invoices Based on Transactions check box on the Fees tab of the Billing Terms form is selected by default when you set up new billing terms.

If posting revenue based on transaction detail is not appropriate for the project, you can clear that check box. In that case, Vision posts fee billed revenue to a single account.

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. The default accounts that you can override include the account entered in Over/Under Billed Account on the Fees tab of Billing Setup.

If you select a fee method other than No Fee Billing, you can select Allocate Billed Revenue on Fee Invoices Based on Transactions at any level of the WBS at which you can set up fee billing.