Page 38 - Unanet GovCon Using Billing Revenue - Participant Guide ebook

Billing Types:

The Billing Type determines how we bill and recognize revenue for a project. Each
project within Unanet will have a Billing Type associated with it. The Billing Type is
defined in the Customer’s project.

A project’s Billing Type can be Time & Materials (TM), Cost Plus (CP), Fixed Price (FP),
or Non-billable (NB). Billing Types can be used to categorize different types of contracts
for reporting purposes.

Billing & Revenue Calculations by Billing Type
The impact of the Billing & Revenue Post to Revenue in the General Ledger is
determined by the Billing Type and contract agreement of the Project being posted.

Time & Materials
Revenue is Recognized at the time of the Billing & Revenue Post

Cost Plus
Revenue is Recognized at the time of the Billing & Revenue Post

Fixed Price
Requires Project level Billing set up according to the contract.

Revenue is recognized based on the method selected when setting up the Project level
Billing. The methods are Custom Schedule, % Complete, and When Billed.

Revenue is Recognized at the time of the Billing & Revenue Post:
• Custom Schedule
• % Complete (from the Project’s Budget tab)

Revenue is Recognized at the time of Invoice Completion:
• When Billed

LESSON 4 REVENUE RECOGNITION
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