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  1. Ensure the project team has updated the people assignments and expense budgets (or people plans and expense plans, depending on your process) going forward for the remainder of the project.

  2. Run the Cost Summary & Status report with Actuals up to the previous month (the period for which you are recognizing revenue), and with either:
    1. Budgets going forward (Actuals Combined with Budgets) - if you are updating people assignments/expense budgets on an ongoing basis.
    2. Plans going forward (Actuals Combined with Plans) - if you are updating people plans/expense plans on an ongoing, forward-looking basis.

    Notice that the calculated Revenue amount does not add up to the total expected Revenue.

  3. Update the Project Profile > Budget tab with latest data from the ACTUALS & ALLOCATED column:
    1. Method 1 - If you are using plans for your baseline/proposal/contract budget and regularly forecasting using assignments/expense budgets, populate the Est. Total fields with the latest totals.
      1. Hours Est. Total (necessary if choosing Estimate from Hours COMPLETED PERCENT method).
      2. Labor Cost $ Est. Total (necessary if choosing Estimate from Labor Cost or Total Cost COMPLETED PERCENT methods).
      3. Expense Cost $ Est. Total (necessary if choosing Estimate from Total Cost COMPLETED PERCENT method).



    2. Method 2 - If you are using blanket assignments/expense budgets at project inception and regularly updating plans throughout the project execution, replace the Budgeted fields with the latest totals.
      Note that this will also redistribute revenue across the months, so reports on cumulative revenue will be more meaningful than periodic revenue.
      1. Hours Budgeted (necessary if choosing Estimate from Hours COMPLETED PERCENT method).
      2. Labor Cost $ Budgeted (necessary if choosing Estimate from Labor Cost or Total Cost COMPLETED PERCENT methods).
      3. Expense Cost $ Budgeted (necessary if choosing Estimate from Total Cost COMPLETED PERCENT method).



      In either case, when you refresh/run the same Cost Summary & Status report with the Project Profile > Budget tab fields, the total Revenue amount will now be reflected in the ACTUALS & ALLOCATED column.

      However, if you follow Method 1 of updating the Estimated Totals, you can retain the original Plans revenue calculation across the months when running a comparative view of the report:

  4. Before running the Billing & Revenue Post, populate the amount in the COMPLETED PERCENT field (as a number, not a percent (EX: 6.45% = 6.45).

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    Note: If you do populate the COMPLETED PERCENT amount and run the same report again, the Actuals revenue amount will appear as $0 until you have completed the Billing & Revenue Post. 

  5. Run the Billing & Revenue Post process as usual (KC - I&P GUIDE - Billing & Revenue Post).

  6. Once you have completed the Billing & Revenue Post process for the given month, you will see the Actual revenue amount as it was posted.

    If you leave the COMPLETED PERCENT amount populated in the project profile after your Billing & Revenue Post, this amount will appear in reports showing the % Complete, such as the Project Status report, until the next time you update the COMPLETED PERCENT field.



    Alternatively, if you clear out the COMPLETED PERCENT amount after your Billing & Revenue Post, the system calculated amount will reappear in reports.



    You will be able to see the previous % Complete amounts entered (or any changes made to the project budget or task budget profile) when running the Audit Trail.

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