to select, the valid project for which you want to initialize data. The level of the project entered must be the same level at which you are calculating the billing. The project name displays in the field to the right.Use this screen to review the history of posted bills and to initialize billing history during project setup. This screen tracks the delivery, billed, and retained amounts by project, fiscal year, period, and subperiod.
The data in this screen is used by three processes, as follows:
Compute Revenue — If you selected Equal To Billings Before Retainage, Equal To Billings After Retainage, or Equal To Deliveries as the revenue formula for your project, Costpoint uses the data in this to compute revenue. If you billed for your project before initializing Costpoint, you must summarize the inception-to-date billings and enter the total in this table before you compute revenue for the first time in Costpoint. You can use the last period of the fiscal year before Costpoint was initialized to enter the inception-to-date totals.
Create Unbilled Analysis Report Tables — Costpoint uses the data in this table to derive Inception-to-Date (ITD) billings and retainage. The Create Unbilled Analysis Report Tables process creates a table from which the Unbilled Analysis Report and the Unbilled Reason Code report is produced. If you plan to analyze unbilled receivables, you must initialize inception-to-date billings for all projects in this screen. You can use the last period of the fiscal year before Costpoint was initialized to enter the inception-to-date totals.
Create Cost of Goods Sold Entries — This process uses the data in this screen if you select a formula on the Manage Cost of Goods Sold screen that uses either billed amount or delivery amount. If you plan to use the Create Cost of Goods Sold Entries process for some of your projects, you must initialize inception-to-date billings and delivery amounts for those projects. You can use the last period of the fiscal year before Costpoint was initialized to enter the inception-to-date totals.
If you do not use any of the these processes, you do not need to initialize this screen.
The Post Standard Bills, Post Progress Payment Bills, Post Customer Product Bills, Post Project Product Bills, Post Manual Bills, and Post Milestone Percent Complete Bills processes update this screen during the posting process.
Enter data in this screen when you initialize Costpoint Billing. If you are initializing at the beginning of a new year, you may find it helpful to summarize the totals and enter one line under the last period of the previous year. No maintenance of this screen is required after initialization because it is updated by the posting processes.
Enter, or click to select, the valid project for which you want to initialize data. The level of the project entered must be the same level at which you are calculating the billing. The project name displays in the field to the right.
These non-editable fields display the totals of the Delivery Amount, Billed Amount, and Retained Amount columns. To modify the totals, you must modify the individual column amounts.
Enter, or click to select, the fiscal year for the billing amount to be entered. The fiscal year entered must exist in the Manage Fiscal Years screen. The posting processes use the fiscal year to which the bill was posted to update this screen.
Enter, or click to select, the period for the billing amount to be entered. The period entered must exist on the Manage Accounting Periods screen. The posting processes use the period to which the bill was posted to update this screen.
Enter, or click to select, the subperiod for the billing amount to be entered. The subperiod entered must exist on the Manage Subperiods screen. The posting processes use the subperiod to which the bill was posted to update this screen.
Enter the total shipment value of delivery invoices. This column is used only for projects that bill using form 1443, Contractor's Request for Progress Payment. It is updated by Delivery invoice postings from the Post Project Product Bills screen and DD250 invoice postings from Costpoint Sales Order Entry.
Enter the total amount that has been billed less sales tax or other charges. This is the total of all invoices after any retainage or other withholding has been subtracted. Do not include sales tax or other charges in the amount entered in this field. The posting processes use the total amount billed less any tax or other charges.
Enter the amount that has been retained. This includes retentions on both the fee and the total invoice. Normally, the amount entered is a positive number.
For example:
Total Invoice $7,000
Amount Retained 1,000
= Amount Billed $6,000
If you are entering a line for a project that bills using progress payments, do not use this field. The posting processes updates this field with the amount retained on each bill when it is posted.
This column displays the withholding amount, in functional currency, for all standard bills posted (or any amounts that have been manually initialized or edited in Costpoint) in the specified fiscal year, period, and subperiod for this project. This amount is updated by the Post Standard Bills application and can be modified here. Do not include any positive amount entered here in the Amount Billed column (similar to retainage).
This column displays the withholding amount released, in functional currency, for all standard bills posted (or any amounts that have been manually initialized or edited in Costpoint) in the specified fiscal year, period, and subperiod for this project. This amount is updated by the Post Standard Bills application and can be modified here. Include any positive amount entered here in the Amount Billed column.