Percent of Completion Billing
Percent of Completion billing is used when customers are billed based
on actual expenses incurred for the job. When you are ready to bill, Sage 50
will scan the system for all actual expenses for the selected jobs/phases/cost
codes, and bill based on a calculated completion percentage for that job/phase/cost
code.
Setting up Sage 50 for Percent
of Completion Billing
Four elements must be complete for Percent of Completion billing to
function properly.
- Set the Billing
Method field for the job records as Percent of Completion.
- Enter Estimated
Expenses for jobs/phases/cost codes. Sage 50 must have this information
so that it can calculate a percent of completion for each job/phase/cost
code by dividing actual expenses by estimated expenses. If an Estimated
Expenses field is left blank for a particular job/phase/cost code,
Sage 50 will not automatically calculate an amount when you perform
Select for Progress Billing.
- Enter Estimated
Revenues for jobs/phases/cost codes. Sage 50 must have this information
to bill each job/phase/cost code correctly. If the Estimated
Revenues field for a particular job, phase, or cost code is left blank,
Sage 50 will not calculate an amount to bill for that job, phase, or
cost code.
Note that the grid on the Select for Progress Billing window
displays the Estimated Expenses and Estimated Revenues for each job/phase/cost
code so you can quickly check the data.
- You must have incurred actual expenses for the
job/phase/cost code. If you have not incurred actual expenses for the
job/phase/cost code, billing Amounts will remain 0.00 for that job/phase/cost
code.
How Sage 50 Bills Using Percent
of Completion Billing
Sage 50 will bill based on a calcuation and comparion of actual expenses,
esimated expenses, and previously billed amounts. The Amount
that is billed for any line item will be equal to (Estimated Revenue *
Total %) - Previously Billed. In this case, the Total
% will be the value of Actual Expenses/Estimated Expenses, and
the Bill % will be Total % - %
Previously Billed. So, Sage 50 will take into account the actual expenses
and previously billed amounts when calculating the Amount for each line
item.
You can override the calculated amounts and percentages by manually
changing the values or by using the Select Percentage to Bill window and
selecting an option.
If you select an amount that will cause the Total % for any
line item to exceed 100%, you will receive a warning when you attempt
to save, print, or email the invoices. You will be able to override the
warning and bill beyond 100% if you want.
Using Percent of Completion Billing
- Use the Select
for Progress Billing - Filter Selection window to select the jobs
and customers you want to bill. Make sure that you check Percent
of Contract/Completion. Click OK..
- Review the amounts calculated for line items.
If you want to make changes, you may do so by either manually changing
values or you can click the Bill button and use the Select
Percentage to Bill window.
If the Amount
field for a line item is 0.00, then one or more of the following situations
may apply:
- There are no additional
actual expenses since the last billing.
- The Estimated Expenses
field for the line item is 0.00.
- The Estimated Revenues
field for the line item is 0.00.
- Select the Invoice
check boxes for the line items you want to bill. Or you can use the All button in the toolbar to check all
line items in the grid.
- Select an option in the Create
one invoice field.
- Click Save, Print, or Email
to process the selections.
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