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Once the relevant Admin setup has been performed and Project Billing data created, projects can have data included in a Post. 

This document provides information regarding the Billing & Revenue Post. This will identify time and materials items, fixed price items, and cost plus labor and expenses that should be processed. This posting will calculate (and for Financials customers, Post to the General Ledger) unbilled, deferred revenue, recognized revenue, and any associated fixed fee or funding cap adjustments. It is also a necessary step of the Invoicing Process; in order to create a draft invoice you must first have performed a Billing & Revenue Post.

To ensure accurate calculation of recognized revenue for Fixed Price items using the Percent Complete method, a Budget Snapshot for the project should be performed. The Post process and billing reports will use snapshot data if available.

Quick Steps

  1. Navigate to Financials > Invoicing & Posting > Billing & Revenue Post. Here you can filter on various project parameters as desired, or can run with no filters applied to select all available projects.

  2. Important considerations for dates:
    1. LEGAL ENTITY (required)
    2. INCLUDE ACTUALS THROUGH: This will pick up any previously unposted items, using the criteria defined under Admin > Setup > Accounting > Posting Options.
    3. COST-PLUS RECALCULATION OPTIONS: This is typically used for year-end recalculation when you transfer from provisional rates to actual rates. Since postings are done at the transaction level, we don't want the system to go through every single transaction every time rates are updated. The standard should be to not recalculate. Once posting is completed, the amounts do not change, UNLESS this check box is selected. Specify the range e.g., for a full fiscal or calendar year. The Best Practice is to change the provisional rates to the actual rates once they're known. DO NOT change posting options from provisional to actuals because it will go back and use that for EVERYTHING. 
    4. FIXED PRICE OPTIONS: This will allow you to bypass the creation of Fixed Price Billing and/or Revenue transactions in the post. For instance, you may want to use this to create Fixed Price billing transactions as part of your normal billing cycle without also creating revenue postings or post your period end Fixed Price revenue transactions without creating any billing transactions.
    5. POST DATE: This will specify what date the journal entries will show as their posting date (for financials customers this will drive when actually posted to the GL). The Post Date also is used to restrict the previously posted amounts used to determine the current postings for Fixed Price percent complete revenue postings, Funding Cap Adjustments and Fee Cap Adjustments.
      1. Note: For any FP items of When Billed Revenue Recognition Method, the Post Date will not apply because you have set the revenue to be recognized When Billed. On this Post screen, you are Posting and not Billing.  You have yet to create the Invoice. The When Billed revenue will only be recognized once you have Completed the invoice, and will apply the Invoice Post date.

    6. FISCAL PERIOD: If fiscal periods have been selected in Admin > Properties then fiscal period selection option will appear. The fiscal period will match the post date period. A warning will appear when retrieving the list if you have a different post and fiscal period than your INCLUDE ACTUALS THROUGH period. On rare occasions, you could potentially have some older information that you need to put in the current period; this is why the system allows it (and will give a warning because such an occasion should be infrequent).

  3. Once you have entered the desired parameters and dates, select the List tab. This screen displays the items and amounts which will be posted. 

  4.  A Billing & Revenue Details Report can be viewed by clicking on the amounts (indicated by blue text) in the UNPOSTED BILLINGS and UNPOSTED REVENUE columns, and will display in a new popup window.

  5. A Billing & Revenue Summary Report can be viewed by clicking the magnifying glass icon for an item from the List tab view, and will display in a new popup window.

  6. Select the check boxes for the specific items you would like to post.
    1. Note: Selecting the check box in the header row will select all items.

  7. Click Post. Once the post is run, you will receive status messages on its completion (successful or not). 

Other Information

The Post process will validate that each item is eligible to be included. This is described in detail in the Help Document referenced below, but in summary:  

  • For TM or CP projects, only EXTRACTED or LOCKED labor and expense will be included as well as posted project expenses entered via any of the financials transaction entry screens (vendor payment, vendor invoice, deposits, customer payments and journal entries).
  • For FP, the criteria used when defining the billing and revenue recognition schedules, and the INCLUDE ACTUALS THROUGH date will determine what amounts are calculated for the various account categories. If calculating 

    recognized revenue for Fixed Price items using the Percent Complete method, a Budget Snapshot for the project should be performed. The Post process and billing reports will use Snapshot data if available.

Note: Dates of items will be evaluated based upon your settings in Admin > Setup > Posting Options. See Posting Options in the Additional Information section below. 

Note: If the Suppress Unposted data preview before Billing & Revenue Post property found in Admin > Properties > General > Billing is set to TRUE, and you've selected Suppress Unposted data preview on the Search tab of the Billing & Revenue Post screen, your preview will appear as below:

Additional Information

Help Docs - Billing and Revenue Post

KC - Posting Groups

KC - Posting Options

KC - FAQ - Why can't I post for Billing and Revenue?

KC - Quick Topic - Understanding Dates in Unanet

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