Equal to Billings After Retainage

The amounts in the Amount Billed column on the Manage Project Bill Summary screen are summarized, for the fiscal year, up to and including the period being calculated to arrive at the YTD billed amount after retainage.

Revenue recognized for the fiscal year, up to and including the current subperiod being calculated in the PROJ_SUM table, is summarized.

The amount from the PROJ_SUM table is subtracted from the YTD billed amount after retainage to arrive at the amount of YTD revenue not yet recognized. The PROJ_SUM table is then updated with this amount. Revenue, for all fiscal years before the fiscal year being computed, is summarized and added to the YTD revenue not yet recognized to arrive at the ITD revenue. The ITD number is compared to either the total contract ceiling or the funded value ceiling found on the Manage Total Ceilings screen.

If the ITD revenue exceeds the total project ceiling, the amount over the ceiling is posted to the owning organization in the subperiod being calculated as an over-the-ceiling amount. This reduces revenue to the ceiling amount.

If your project uses net withholding, the Compute Revenue application treats the net withholding amount as an additional retainage amount, which is subtracted from the total billing amount to arrive at the revenue amount.