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Title: Establishing historic revenue/cost to Unanet systems already in use

Brief description:

This document addresses Unanet systems that are already in existence at the moment when you decide to enter historical revenue/cost data. This document is not designed for new Unanet implementations, but meaningful pieces may be gleaned from it for new implementations. In this document, various methodologies for establishing accurate Revenue and cost dollars will be identified based on contract type. While additional options may be available, this document will outline the recommended process for each contract type. This is considered an advanced topic, so please contact your Unanet Consultant or Customer Success Manager for questions or concerns. Additional knowledge center information for Historical Data can be found here.

Key considerations when evaluating which approach to use include how you plan to report on the data once it is loaded into Unanet. The more detailed reporting requirements, the more time will be required to align the right solution to your reporting needs. Even if details are not required, you may consider using the guidance below by fiscal year to allow correct FY reporting. Consider how you will use report data and how much detailed data is required to successfully manage project performance (e.g. if the contract term has ended, no data may be required or summary level data may be sufficient).

What’s covered in this document:

Fixed Price Contracts

Labor and Travel/ODCs Fixed Price

Description

Required Analytics

Options

Pros/Cons

Labor and Travel/ODCs Fixed Price

  • Total Revenue
  • Total Cost

Revenue:

Required: Enter FP item(s) to get the historic billed to date and revenue correct for labor and expenses. 

Create one Invoice with all historic FP Items included for Revenue entries.

Costs:

Option 1: Enter expense report(s) to record Costs through DATE. Have separate entries for labor and ODCs to DATE. No hours will be entered. Use a non-billable Project Type.

Option 2: Create timecard corrections ensure hours and labor cost dollars to the new projects. Enter expense report to record cost of ODCs to DATE.

Cost Option 1: 

Pro: Shorter time investment.

Con: no historic metrics on labor (who, how many hours).


Cost Option 2:

Pro: Accurate labor historic metrics.

Con: Significant time investment.  Cannot generate invoices prior to historic data corrections.

Combined FP and T&M Contracts

DescriptionRequired MetricsOptionsPros vs. Cons

Labor and Travel/ODCs T&M

  • Revenue
  • Cost

Setup:

Create a Task for all Travel & ODCs with a Billing type of T&M.

Revenue:

Required: Enter FP item(s) to get the historic billed to date and revenue correct for labor and expenses. 

Create one Invoice with all historic FP Items included for Revenue entries.

Costs - Labor & ODCs:

Option 1:  Enter expense report(s) to record Costs through DATE. Have separate entries for labor and ODCs to DATE. No hours will be entered.  Use a non-billable Project Type.

Option 2: Create timecard corrections ensure hours and labor cost dollars to the new projects. Enter expense report to record cost of ODCs to DATE.

Please note: Time card adjustments are sensitive to a number of changes. Please read the Help documentation on adjustments prior to proceeding.

Costs - ODCs

Pro: The existing Travel/ODC entry will support cost reporting on ODCs.

Con: Existing ODCs recorded at the existing project or task level with labor will not show in Unanet as T&M.  It is not recommended that they are reversed and charged to the new Task as a time saving mechanism. 

Costs - Labor

Option 1

Pro: Shorter time investment.

Con: no historic metrics on labor (who, how many hours).

Option 2:

Pro: Accurate labor historic metrics.

Con: Significant time investment. Cannot generate invoices prior to historic data corrections.

Time and Materials

DescriptionRequired MetricsOptionsPros vs Cons

All Labor and Expenses are T&M

  • Hours
  • Revenue
  • Cost

Note: If hours are not required, see the FP approaches.

Revenue - Travel/ODCs:

Option 1: Create a historic entry Task with FP billing type to record ODCs as FP revenue.

Option 2: In an initial Invoice, add an Additional Item to enter the off-set contract to date total.

Hours & Costs - Labor:

Complete time card corrections to:

  1. Apply a Billable project type to all billable hours.
  2. Correct Bill Rate for historic period(s).
  3. Correct Cost Rate for historic period(s).

Note: Time card adjustments are sensitive to a number of changes. Please read the Help documentation on adjustments prior to proceeding.

Costs - Travel/ODCs:

Recommended: Create an expense report using a non-billable project type to record the off-set cost of Travel and ODCs. Break this into multiple line items to represent different Expense Types if this level of detail is required.

Manual Process. Cannot do any invoicing until the past corrections have been made, because this is the only way to get the cumulative to date numbers.

To invoice, all timesheets and expense reports must be in the Extracted or Locked status.

Cost Plus Contracts

DescriptionRequired MetricsOptionsNotes

All direct labor and expenses are CP

  • Revenue
  • Cost

Setup the appropriate Cost Elements and Cost Structures prior to reconciling data.

Enter past fiscal years and indirect rates for past years for indirect calculations.

Projects:

  1. Setup each project with the appropriate Cost Structure.

Labor:

Complete time card corrections to:

  1. Associate the labor with the appropriate Cost Elements and Cost Structures (typically by entering this association in the person rates table).
  2. Correct direct cost rates for individual resources.
  3. Correct projects, tasks and labor categories.
  4. Enter hours accurately.

Travel/ODCs:

  1. Recommended: Create an expense report to record the off-set cost of Travel and ODCs. Break this into multiple line items to represent different Expense Types if this level of detail is required.
  2. Contact support@unanet.com to run a stamp to update all historic expense reports with the appropriate project Cost Structures and Cost Elements.

To invoice, all timesheets and expense reports must be in the Extracted or Locked status.

Additional Information

Help Docs - Project Billing