Hi All
I have a requirement to recognise revenues and costs as below.
Revenue
All of the actual billed is recognised immediately - contract (Invoiced) method
Cost
Cost's are proportionally recognised based on below formula
Actual Cost X Actual Revenue/Budgeted Revenue
For example if the project is 50% completed from revenue perspective and the actual cost is $10000 then $50000 recognised as cost to P&L
Is there a method such as this? Tested Cost fo Sales method but it allocated the budgeted cost to P&L