Completed Contract - Fixed Price - Revenue recognition is based on billings and not on the input fixed price of the project. This needs to be fixed!!
Billings does not necessarily mean revenue. We cannot recognize the correct amount of revenue when we have a holdback billed after revenue recognition. The PJC user module says that revenue recognition will be done on the fixed price BUT this is not the case - the help indicates it will be done on the billings.
If we could change the account when entering an invoice this may help but I feel this is a bug in the software.
Also there are often costs after completing a contract and even though the closed to costs/closed to billings is not set to yes it does not allow further costs or billings to be done.
by: Nicole M. | over a year ago | General Enhancements
Comments
Completed Contract process is the simplest process. To make it work, we don't even to set Project Completed comtract basis. With Project/Contract status fields we can control the reporting, and reports can be the source for WIP or Revenue.
For further inquiries please contact mcarsan@baass.com or orders@baass.com