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45Hello Experts,
I want to know how to calculate the percentage of completion in fixed price project into D365 FO and AX 2012. I just need the guide or anyone just can give me the formula with the following example, how system will calculate the % of revenue recognized. Follow is my scenarios. Please also confirm the percentage of completion is calculated below is correct.
| Contract Price | 100,000.00 | ||||
| Estimated Contract Cost | 80,000.00 | ||||
| Profit | 20,000.00 | ||||
| July | August | September | |||
| Cost Incurred | 20,000.00 | 35,000.00 | 25,000.00 | ||
| Estimated contract cost | 80,000.00 | 80,000.00 | 80,000.00 | ||
| % completion | |||||
| Revenue recognized | Cost incurred to date/Estimated total cost*contract price-revenue previously recognized | ||||
| % percentage completion | 25.00 | 43.75 | 31.25 | ||
| Revenue to be recognized | 25,000.00 | 43,750.00 | 31,250.00 | ||
| Profit for the month | |||||
| Cost | Revenue | Profit | |||
| July | 20,000.00 | 25,000.00 | 5,000.00 | ||
| August | 35,000.00 | 43,750.00 | 8,750.00 | ||
| September | 25,000.00 | 31,250.00 | 6,250.00 | ||
| Net Profit | 20,000.00 | ||||
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