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How can I recognize retained/unbilled fee revenue on a Cost Plus contract without impacting AR Aging or showing on the invoice until billed?


This may be needed in cases where you want to recognize revenue along the course of a contract, but cannot bill until some later date.

Below are steps for adding an Unbilled flat fee amount to an invoice so that it is recognized but not yet billed.

  1. Add special Additional Item Types as shown below. (Admin > Setup > Accounting > Additional Item Types > +Additional Item Type)
    1. The use of both Additional Items in combination will offset each other and prevent the item from populating the subsidiary AR aging or showing on the invoice.

  2. On the billing where you want to add an unbilled and recognized revenue amount, add two Additional Items.
    1. Ensure that the exact same description is used and the correct Additional Item Type is selected. These two items together will net to $0 and will not show on the invoice.

  3. While the invoice is in Draft status, you can see the revenue awaiting recognition is in the Draft Revenue column in the Billing and Revenue Summary.

  4. After the invoice is Completed, you can see the revenue has been recognized and the amount is in the Unbilled column in the Billing and Revenue Summary.

Additional Information

KC - Quick Topic - How does Unanet handle fixed fee retention (retainage) on Cost Plus projects?

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