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Title: How can I limit billing and revenue to a contract's funded value?

Brief description:

Unanet can limit the revenue and/or billable amount to the funded value set at the project/task level. This feature can help government contractors with contracts meet billing requirements set by the government. It is also useful for commercial or nonprofit Unanet customers if they desire to limit the amount billed through Unanet to the amount negotiated on the contract.

What’s covered in this document:

Project Configuration: Project and Task settings to cap revenue and/or billing to specific funded values.

Projects and Tasks can be set to cap revenue and/or billing amounts to the funded value specified on the Project and/or Task Accounting tab.

Process:

  • The Invoice and posting process will “cap” the billing and/or revenue to the funded amounts.  The overage amount will be stored in an account; the account number or logic to find the account number should be specified in the Posting Group.
  • If you receive additional funding and update the Project or Task Funded Value, the system will automatically reverse that portion from the “Funding Cap Adjustment” account and add it to Billed or Revenue when project data is posted again.
  • This principle also applies to Fee calculation limits.

Reporting:

Unanet recommends that a Cost Report format be set up to show funding adjustments for any adjustments created due to funding caps or subsequent adjustments. This configuration can be created in the Cost Report option under the Admin Setup menu. Below is a screenshot of an example report configured for this purpose. Note, running the Cost Summary by Cost Element version of the Cost Report allows you to see the Task level detail, which may be useful if funding values are capped at the Task level.

Invoice Configuration: Create Invoice Format(s) to show specific funded value on the invoice.

Select Invoice options to show funded value at the project and/or task level, if desired, on the customer invoice. Additionally, the Funded Value Adj tab can be used to select whether the adjustments to funded value will be shown on the invoice.


Additional Information

KC - Quick Topic - Multiple Project Cost Summary Report Definitions

KC - Quick Topic - Funding Caps and Fee Cap Adjustments