Accounting › Contract Costing
Contract Costing
Fixed price, progress by cost-to-cost, retention held back, and the full expected loss taken the moment it is foreseen — the one asymmetry in the standard and the one most often missed.
Where to find it
- Module: Accounting
- Group: Projects & Margin
- Section: Contract Costing
- Screen: Contract Costing
Address in the console: /accounting/job-contracts
List · 14 columns · 20 fields on its form · 3 of them required
What the list shows
These are the columns of the list, in the order they are drawn. Any of them can be sorted on, filtered on, hidden, or exported.
| Column | Kind | Field name |
|---|---|---|
| Contract | Code | contract_no |
| Name | Text | name |
| Customer | Text | account_name |
| Type | Status | contract_type |
| Revised value | Amount | revised_value |
| Complete % | Number | percent_complete |
| Earned | Amount | earned_revenue |
| Billed | Amount | billed_revenue |
| Contract asset | Amount | revenue_in_excess_of_billings |
| Contract liability | Amount | billings_in_excess_of_revenue |
| Margin % | Number | margin_pct |
| Retention | Amount | retention_held |
| Loss making | Yes or no | is_loss_making |
| Status | Status | status |
The form
What is asked for when a record is created here. Required fields are marked; a choice drawn from a configuration list is one an administrator can extend without a release.
| Field | Type | Choices | Notes |
|---|---|---|---|
| Name required | Text | ||
| Project | Choice | Looked up from existing records | |
| Customer | Choice | Looked up from existing records | |
| Revenue contract | Choice | Looked up from existing records | |
| Type required | Choice | Configuration list | |
| Start | Date | ||
| End | Date | ||
| Currency | Choice | Looked up from existing records | |
| Contract value required | Number | ||
| Variations | Number | The reality of construction, and what makes the original value meaningless by month four. | |
| Estimated total cost | Number | ||
| Retention % | Number | ||
| Retention held | Number | ||
| Retention released on | Date | ||
| Advance payment | Number | ||
| Advance recovered | Number | ||
| Performance bond | Number | ||
| Liquidated damages rate | Number | ||
| Progress method | Choice | Configuration list | |
| Notes | Long text |
The rules that apply here
Everything on this screen obeys the platform rules rather than rules of its own. The ones worth knowing before you use it:
- Narrowing a list — search, conditions, sort, totals, export and saved views.
- What may be changed — the five grounds a record may not be edited on.
- Companies and business units — what the switcher above this list is doing to it.
- Creating a record — required fields, where choices come from, and how the number is allocated.
- Importing a spreadsheet — this screen accepts one, and it runs through the same rules as typing.