About the JC Revenue Projections Form

This form allows you to adjust contract amounts by contract item for reporting purposes by establishing a 'projected' revenue amount.

Although referred to as JC Revenue Projections, its functionality is very different from JC Cost Projections.

Revenue Projections should be used in the following instances:

  • For T&M contracts where there is no contract amount, use to calculate the contract to be equal to the billed amount, cost plus markup, or projected cost plus markup.
  • For Progress contracts where the unit price is fixed but you are paid on units completed, use to calculate the contract units based on the projected units established in JC Cost Projections.
  • For Progress contracts with unprocessed change orders where costs have already been incurred, use to override the contract amount by plugging the projected revenue. This will allow reporting cost to revenue on the same basis.

For normal Progress contracts based on fixed contract units and/or amounts that are typically only revised by change orders, this form should not be required and does not have to be updated monthly. For those contracts, it should only be used as described above to account for change orders in a month prior to their final processing. In a subsequent month, when the change orders have been processed, the adjustment should be removed to bring the projected revenue back to the contract amount.

Many contract reports will display the Revenue Projection if not zero, but will otherwise show the Current Contract. Therefore, for most contracts, revenue projections are not required and will only be used as an override.

Note: Both the Current Contract and Projected Contract amounts are displayed above the grid.

You can manually enter projections, have the program calculate projections for you (via the Calculate Projections option, Options menu), or use a combination of both methods. Regardless of which method you use, the following applies:

  • Contract must be valid and specified items must exist on the contract.
  • Contract must have a status of 'Open' unless you allow posting to hard- and/or soft-closed jobs (flags in JC Company Parameters), in which case, contracts with a status of 'Soft-Closed' or ‘Hard-Closed’ are also eligible.
  • Contract cannot exist in any other projection batches.
  • Batch month must be open in subledgers
  • Plugging Projections - The projections grid shows you the Current Units and Dollars, Future CO's Units and Dollars, and Previous Projected Units and Dollars, and provides columns for entering adjusted units and/or dollars or projected units and/or dollars. For details, see Plugging Projections
  • Refresh Data - Select Options > Refresh Data to refresh the current units and dollars, and future CO units and dollars on all items in the grid.
  • Resetting Projected Amounts for Contract Items - The Reset Projected Item Amounts option (Options menu) allows you to reset projected amounts for items on the contract to their previous projected units and/or dollars. For example, you initialize projections for a contract and plug the values for several items on the contract. You then determine that the plugged values are incorrect for one or more items. Using this option, you can reset the projected values for those items to their Previous Projected Units and/or Previous Projected Dollars.
    Note: Projected values must be reset for each item individually. This allows you to correct values for specific items without affecting other items on the contract.
  • Attachments - You can add attachments to any contract item in the grid. Just highlight the contract item, select the Attachments button (or the Scan button if attaching a scanned image), attach the image, and click OK. Once the projection batch is posted, the attachments are added (by JCCo, Contract, and Contract Item) to the JCID (Contract Item Detail) table.

Calculate Projections

Item and Bill Type Filter

Future Change Orders