Fixed Amount Contract to Date

Revenue recognized for the fiscal year up to and including the current period being calculated in the project revenue ledger is summarized.

Revenue for all fiscal years before the fiscal year being computed is summarized using the revenue amount on the Manage Prior Year Cost and Revenue screen.

Costpoint compares the amount entered on the Manage Revenue Information screen to the sum of these two values. It subtracts this sum from the amount entered on the Manage Revenue Information screen to arrive at an amount of ITD revenue not yet recognized. The revenue ledger is updated with this amount. The inception-to date-number is compared to either the total contract ceiling or the funded value ceiling. If inception-to-date 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.