Field Definitions for Spectrum: Contract Summary and Billings-to-Date
Find information about terms and values that appear in Contract Summary and Billings-to-Date reporting in Team.
Contract Summary Terms
- Contract Value
- This
value is determined by adding any change orders that have occurred to
the original value of the contract.
- Contract Value: The current estimated value of the contract.
- Original Value: Original value of the contract.
- Projected Value: Projected value of the contract. If the Projected Value is zero, this value will show the current Contact Value determined at the item level. This means that if a contract includes three items and only one item has projected value, the number shown as Projected Value will include the projected value for the one item that has it and the current Contract Value for the other two items that do not.
- Est Cost
- The
original estimated costs of the contract plus change orders.
- Est Cost: The current estimated cost of the contract.
- Original Est Cost: Original estimated final cost of the contract.
- Projected Est Cost: Projected final cost of the contract. Note that if the projected final cost is zero, this value will display the Est Cost.
- Est Profit
-
This value is determined by subtracting costs from the revenue.
- Est Profit:
The current estimated final profit for the contract. Calculated by
Team as follows:
Est Profit=(Contract Value-Est Cost)
- Original Est
Profit: Original estimated final profit of the contract.
Calculated by Team as follows:
Original Est Profit=(Orginal Contract Value-Original Est Cost)
- Projected Est
Profit: Projected final profit of the contract. Calculated
by Team as follows:
Projected Est Profit=(Projected Contract Value-Projected Est Cost)
- Est Profit:
The current estimated final profit for the contract. Calculated by
Team as follows:
- Est Margin
-
This value is determined as follows: (Current Contract Value minus the Current Estimated Cost) divided by the Current Contract value.
- Est Margin:
The current estimated profit margin of the contract. Calculated by
Team as follows:
Est Margin=(Est Profit)/(Contract Value)
- Original Est
Margin: Original estimated final margin of the contract.
Calculated by Team as follows:
Original Est Margin=(Original Est Profit)/(Original Contract Value)
- Projected Est
Margin: Projected estimated final margin of the contract.
Calculated by Team as follows:
Projected Est Margin=(Projected Est Profit)/(Projected Contract Value)
- Est Margin:
The current estimated profit margin of the contract. Calculated by
Team as follows:
Billings-To-Date Terms
- Billed
- This amount is determined by dividing the Billed to
Date value by the Current Contract value. Calculated as follows:
% Billed = (Billed-to-Date)/(Current Contract Value)
- Billed to Date
- This value
shows the amount of the contract that has been billed to
date.
Spectrum table.field CR_INVOICE_HEADER_MC.Invoice_Extension - Cost to Date
- This is the job-to-date
actual cost amount for the project.
Spectrum table.field JC_TRANSACTION_HISTORY_MC.Tran_Amount - Over/Under Billed
- This value is determined by subtracting the Revenue to
Date from the Billed to Date amount. Calculated by Team as follows:
Over/Under Billed = (Billed-to-Date)-(Revenue to Date)
- Complete
- This percentage is determined by dividing the Cost to
Date by the Projected Final Cost. Calculated by Team as follows:
% Complete = (Cost to Date)/(Projected Final Cost)
- Received to Date
- This is the
contract payment amount that has been received. This value includes pre-payments.
Spectrum table.field/formula (CR_PAY_ADJUST_HISTORY_MC.Payment_Amount + CR_PAY_ADJUST_HISTORY_MC.Discount_Amount) + CR_OPEN_ITEM_MC.Invoice_Balance
- Revenue to Date
- This amount
is determined by multiplying the percentage Complete by the Projected
Contract Value.
Spectrum Formula The formula depends on the job type: - Percent (for Fixed price job): Revenue = (% Complete) x (Projected Contract Value)
- Billed (for Billed job): Revenue = Contract Billings + Unbilled Amount
- Cost (for Costst + job): Revenue = Cost + (Cost Markup Percent x Cost/100)
- Complete (for Master job): Revenue = (Cost/Projected Cost) x Revised Contract
- Retainage
- This value
shows the current amount retained.
Spectrum table.field CR_INVOICE_HEADER_MC.Retention_Amount - Profit fade/gain
- This is determined by subtracting the original estimated margin from the
projected estimated margin.
Profit fade/gain =(Projected Est Margin)-(Original Est Margin)