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We need a contract amount in T&M billing

My project 339 is a T&M project, however there is a contract amount. We set up the budget and are unable to enter the contract amount so it is throwing off our WIP report and our project revenue. It shows on the project that we are negative, because there is nothing going against the entered budget.

  • Faith Gardner
  • Mar 7 2019
  • In Review
Company COPPERA, LLC
Job Title / Role Project Administrator
I need it... Yesterday...Come on already
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  • Julie Standifer, C.P.A. commented
    July 01, 2019 16:15

    I so agree!

  • Faith Gardner commented
    March 21, 2019 17:15

    I posted the invoice, I entered a line for TMVal and I still was unable to enter a contract amount

  • Lisa Ertman commented
    March 18, 2019 22:40

    If anything in billing is grayed out, it is usually because you have a pending billing for that project that is not posted.

  • Faith Gardner commented
    March 18, 2019 15:19

    It is not allowing me to change the billing format. It is grayed out. So I created an additional line for TMVal and the billing code set up will not allow me to enter the contract amount

     

  • Lisa Ertman commented
    March 15, 2019 19:06

    Put the billing format on the project and add a contract value like you would on a contract project.

  • Faith Gardner commented
    March 13, 2019 17:23

    I've created the billing format, but it will not allow me to enter an amount

  • Faith Gardner commented
    March 13, 2019 17:04

    My PC doesn't offer the selection TMVal in the billing format. What should I do in this scenario

  • Lisa Ertman commented
    March 13, 2019 16:56

    We fake out ProContractor by setting up a contract billing format we call TMVal. We only use TMVal billing format to put in a contract dollar amount in a T&M project and create a reasonable margin by putting a cost in the cost codes so the WIP report helps us see where to question why billing hasn't taken place. Some variant of this idea may work for you.

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