Details:
- Average Rate (in the Client currency)
- Budgeted Hours (in hours)
- Actual Hours (in hours): all billable approved (non recognized) entries within the project start date and batch date (inclusively)
- % to Recognize: (Actual Hours/Budgeted Hours) * 100
- Amount to recognize (in Client currency)
The Percentage to Recognize and Amount to recognize are calculated by comparing approved billable time (this includes negative entries) charged against the project with the budget defined. If the system calculated percentage complete is greater than 100%, it is changed to 100% and the amount recalculated.
Entries with the option Can override Percent to Recognize checked at the rule level have an Edit icon available at the beginning of the row. Clicking this icon opens the Edit Percent to Recognize page through which you can override the percentage to recognize. You cannot enter a value greater than 100%.
When changing the Percent to Recognize field, the Amount to recognize value is recalculated, using only the Average Rate defined at the rule level, and updated in the details section when the change is saved.
Accrued Revenue:
The Accrued Revenue field for each project takes into account only invoiced amounts with the state Accrue Revenue (revenue recognized flag) set. All entry types regardless of the rule type are included in the total calculation. Only invoices with an End Date earlier than or equal to the Batch Date are included in the calculations. The Accrued Revenue amount does not include taxes.
Exchange Rate:
All amounts in the accrual batch are calculated using the exchange rate on the date of the batch.
Negative Amounts to recognize:
The Amount to recognize cannot be negative. If the amount is negative, it is reset to 0$.