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All,
I have a client who wants to do milestone billings with a fixed fee but not on a schedule. I created cost codes with a cost of zero and a set profit amount - 10, 30 and 60 percent of the total project for the billings. They are set as misc logs with qty of 1. The 30 percent billing is done at the start of the project as an initial billing and there are no costs so when we run RR it does not do anything which is expected. During the next month the project was delayed so there was only 49 in costs on the project which created a POC of .33% (.0033). The initial billing was for 7764.00 and the RR was for 85.40. The RR creates distributions which credit project revenue, Debit WIP and credit Project expenses. I get all of those entries. It also creates a credit to Project billings for 85.40, a debit to BIEE for 59.78 and a debit to EIEB for 25.62 so it balances but why does it do this? I think the 85.40 is the RR and the 25.62 is .0033 of 7764 so the offset is the 59.78 but why is this entry even necessary - if any one can explain it to me that would help out
Thank you,
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