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Description: The Actuals Formula of the Fee Calculation Method defines the fee calculation method. Examples include total cost, total hours or direct labor. The Fee Method Name can be selected to appear as part of the invoice format.

Note: while fee calculation methods may be defined on TM and FP contracts, they have no effect on billing or reportingfees can appear on FP and TM projects for informational reporting only but won’t impact revenue recognition or billing. Fee calculation methods affect billing and reporting on CP (Cost Plus) projects.