Creating revenue formulas

If your firm wants to specify a unique way to calculate revenue, you can create formulas. The formulas you create will appear on the Project Command Center > Revenue tab when you assign the formula or formula + WIP method to a project or phase.

Before you begin

Verify that the following options have been set up:

  • Select the formula or formula + WIP revenue method ( > Setup > Company > Preferences > Project tab).
  • Enable the appropriate roles to have access to the Revenue Formulas menu option ( > Setup > Company > Roles > Company tab).
  • Select over- and under-billed accounts for the Balance Sheet and deferred accounts for the Income Statement ( > Setup > Company > Preferences > Project tab).

To create revenue formulas

  1. From the > Setup menu, select Company > Revenue Formulas.
  2. Do one of the following:
    • To create a formula, click New in the upper right-hand corner and give the formula a descriptive name. Go to step 3.
    • To change the formula, click > Edit on the relevant formula line. Verify your edits by clicking Validate. Click OK to save your edits and return to the formula list.
    • To delete a formula, click > Delete on the relevant formula line and confirm that you want to delete it. Ajera deletes the formula immediately. You do not need to click Save.

  1. Create formulas by expanding one or more of the categories and selecting from the available columns (listed below) and standard mathematical operators: + (to add), - (to subtract), * (to multiply), and / (to divide). Brackets are automatically added when you select from the list of available columns.

    Note:

    To break out amounts by activity type (labor, expenses, consulting), include the activity type in your formula.
    Formula Tags
    Revenue Start Date
    Revenue End Date
    General Information
    Activity Type Value
    Phase Level
    Phase Order
    Project Status Value
    Revenue Method Value
    Revenue Status Value
    Is Detail Phase
    People
    Billing Manager
    Principal In Charge
    Project Manager
    Dates
    Revenue Accounting Date
    Hours/Units
    Billed Hours by Accounting Date
    Current Billed Hours by Accounting Date
    Current Hours Worked by Accounting Date
    Current WIP Hours by Accounting Date
    Hours Worked by Accounting Date
    WIP Hours by Accounting Date
    Dollars
    Actual Revenue
    Billed by Accounting Date
    Committed Revenue
    Contract Amount
    Cost Budget
    Cost by Accounting Date
    Current Billed by Accounting Date
    Current Cost by Accounting Date
    Current Receipts
    Current Receivable Balance
    Current Spent by Accounting Date
    Current WIP by Accounting Date
    Current Written off by Accounting Date
    Estimated Revenue
    Over
    Prior Revenue Percent Complete
    Prior Revenue
    Project Percent Complete
    Receipts
    Receivable Balance
    Revenue Percent Complete
    Spent by Accounting Date
    Total Contract Amount
    Total Cost Budget
    Total Revenue Percent Complete
    Total Revenue
    Under
    WIP by Accounting Date
    Written off by Accounting Date
    Keys
    Billing Manager Key
    Phase Key
    Phase Parent Key
    Principal In Charge Key
    Project Key
    Project Manager Key
    Revenue Detail Key
    Revenue Key
  2. To verify that you've written a valid formula, click Validate.
  3. Click OK to save your formula.
  4. To exit the Revenue Formula window and save all changes, click .
  5. Associate the revenue formulas with a project's labor, expense, or consulting revenue, using the Revenue tab in the Project Command Center (PCC).