to select, the account to which you charge the hours. This account must be a detail account, and it must be set up as a Project Required account on the Manage Accounts screen.Use this screen to initialize prior year T&M Revenue information. Costpoint uses this information to enforce hours-based ceilings and to calculate the hours in excess of ceiling for projects with loaded labor rate revenue formulas (T&Ms). Enter hours by labor category, or, optionally, by employee/vendor. You do not need to initialize this screen if you do not have hours ceilings on your loaded labor rate (T&M) projects. All inception-to-date revenue, cost, and hours information for project reports comes from the Manage Prior Year Cost and Revenue screen and the Manage Project Labor History screen.
This screen updates the Prior Year Project Labor History table by fiscal year. This table is also updated as part of the fiscal year close program. Initialize this screen before computing T&M revenue on projects that contain a loaded labor rate revenue formula on the Manage Revenue Information screen.
Select the fiscal year you are updating. The fiscal year must be set up as a valid fiscal year.
Select the project to update. For hours to be recognized in the revenue calculation, this project level must be the same as, or lower than, the level at which the revenue formula is set up on the Manage Revenue Information screen. For example, assume a three-level project. Revenue is recognized at the second level, costs are charged at level three. You must enter hours at the second or third level for them to be recognized in the calculation of revenue and ceilings. Hours entered at level one are ignored. The field to the right of the project displays the project name.
Enter, or click to select, the account to which you charge the hours. This account must be a detail account, and it must be set up as a Project Required account on the Manage Accounts screen.
The account name is displayed from the Account table.
Enter, or click to select, the organization to which you charge the hours.
Enter the PLC you want to charge. This PLC must be a valid labor category.
Enter the GLC you want to charge. Records can contain both a PLC and GLC. Billing rates are determined by PLC, however.
Enter the actual amount paid.
Enter the actual hours worked.
Enter the allowable hours. Allowable hours cannot exceed actual hours worked. Allowable hours are used in the calculation of over ceiling amounts.
Enter the applicable billing rate for the hours worked.
Enter the billing rate before discount. This is for informational purposes only. If you are not using billing discounts, this field is hidden. This field is updated by the Update Prior Year History screen.
Use the drop-down list to select a valid rate type. Valid options are:
A — Actual rate
B — Billing rate
C — Ceiling rate
S — Standard rate
If you are entering hours by employee, enter, or click to select, the employee who worked these hours.
If you are entering hours by vendor, enter, or click to select, the vendor who charged these hours.
Enter the vendor employee ID.