Project Status Enhancements
When using Charged-Based Billing and Project Revenue Recognition, you can now customize which actions are triggered by the status of your projects. These triggers are also available for custom statuses.
- Create Actual Charges During Midnight Run – This box is available when using Charge-Based
Billing. Check it to indicate that for projects with this status, actual charges should be created during
the midnight run. For the In Progress project status, this box is checked by default.
- Create Forecast Charges During Midnight Run – This box is available when using Charge-Based
Billing. Check it to indicate that for projects with this status, forecast charges should be created during
the midnight run. For the In Progress project status, this box is checked by default.
- Completely Billed – This box is available when using Project Revenue Recognition. Check the box to show the Completely Billed button at the top of a project record set to this status. Click this button to begin the project revenue reconciliation process. For the Closed project status, this box is checked by default. For more information, see the help topics Charge-Based Project Billing and Project Revenue Recognition.
Percent Complete Override Enhancements
On project records, the Percent Complete Override subtab now shows the following additional information:
Change
- Calculated Percent Complete – This is the system calculated percent complete of the project for the accounting period in row.
- Period Status – This shows the current status of the accounting period for each row. The status can be either Open, Locked, or Closed.
- Revenue Recognition Plans – This shows the total amount from actual revenue plans for the project. This information enables project managers to see the system calculations when entering percent complete overrides for ongoing projects. Previously, the Percent Complete Override subtab only listed the override values. In addition, a new preference is available on project status records to enable automatic percent complete recalculation. Check the Percent Complete Automatic Recalculation box to prompt NetSuite to recalculate the percent complete every eight hours for projects with this status. For the In Progress project status, this box is checked by default. You can also manually trigger a percent complete override recalculation from the Actions menu at the top of project records. For more information, see the help topic Using the Percent Complete Override Subtab.