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Billings/Receipts Analysis

The primary purpose of the Billings/Receipt Analysis is to fully disclose by project and job, the total costs in excess of billings or total billings in excess of cost. This is one of the most important management reports in the system. It should be used in conjunction with the WIP Reports as information on the WIP reports is used to calculate critical information such as total costs and revenue earned.

The first step in preparing this report is to establish whether this report will include all open jobs (as required by financial institutions) or just selective jobs for internal ad hoc reporting and analysis within your business. You will then define the end date, and the level of summarization. If you selected the option to report only on selective jobs, then you will select the specific projects you want to analyze. 

If you select all open jobs, which is the system default, a listing of all open jobs will be displayed. You can double-click on any applicable job cost # and go immediately to the job cost master record for that job to review status, make sure all change orders have been entered, and/or check on other critical data and information as required prior to running the report setup program. Should you perform record maintenance on the job cost master record in this manner, the system will automatically return you to the setup form for this report. The all open jobs option setup displays the total contract amount for the project and the contract number for reference.

If you select the selective reports option, you will then select the specific projects that have been setup in your system for which there are transactions recorded in the system through the end date you have specified.  In a manner similar to the selection process explained in Job Cost Reports, use the ">" button to select one or more projects for which you want to generate reports. 

End Date: Enter the date you want to set as the date beyond which no accounting and job cost transactions will be included. This is typically either "today" or a fiscal period ending date. Note: If you use this report in conjunction with others in the system, such as the WIP Report, you will need to use some care in insuring that you have selected dates that are "in sync" with each other.

Select The Summary Level: Click the level desired. If you click the Project level, then whatever jobs and cost codes have been setup for that project will be rolled up and summarized at the project level. Likewise, if you select the job level of summarization, all cost code and task level transactions will rolled up and summarized by job.

Sort By: Click on either Name or Number to specify how you want your projects, jobs and cost codes sorted. Name sorts alphabetically by descriptions you have defined, number by the numeric code you have defined.
The columns on the report are as follows:

Job Number and Description: Printed based upon what has been setup.

Contract + Change Orders: This is the total of the original customer contract and all change orders. Only approved change orders will be reflected in the total.

Billings Previous Year: This is the total of all AR posted from the prior year.

Billings Current Year: This is the total of all AR posted in the current year.

Billings Total job: This is the sum of Billings Previous Year and Billings Current Year.

Receipts Previous Year: This is the total AR that was posted and paid from the prior year.

Receipts Current Year: This is the total AR that was posted and paid from the current year.

Receipts Outstanding: This is the difference between Billings Total Job and the sum of Receipts Previous Year + Receipts Current Year.

Job To Date Rev Earned: Is calculated the same way as performed on the WIP report, namely by multiplying the % complete (see WIP report definition) by the Contract + Change Orders.

Cost In Excess of Billings: This is calculated based upon subtracting the Billings Total Job from the Costs as reported on the WIP Report (Costs: This is the total of all direct costs (before burden and overheads) for all labor, material, equipment, sub contract, and other AP costs recorded in your system through the end date specified).

Billings In Excess Of Costs: This is calculated based upon subtracting the Costs from the Billings Total Job.
This report is summarized and sub-totaled base upon the summarization selected during the report setup for this report.