Costs
Costs equal the total of all open 6-3 Job Costs records.
This amount matches the 6-1-2-21 Job Cost Journal report.
Budget
Budget equals the 6-2 Budget plus approved 6-4-1 Change Orders on Budget and Sub Change Details.
Include change orders only when all conditions apply:
- Header Status shows 1-Approved.
- A date exists in the Approved box.
If lines affect a subcontract, also require:
- Row Status shows 1-Approved.
Percentage
% equals Costs divided by Budget.
This value represents job progress based on incurred costs.
Contract
Contract equals the value in Contract on the 3-5 Job window plus approved prime change orders.
Include change orders only when all conditions apply:
- Header Status shows 1-Approved.
- A date exists in the Approved box.
- The Approved column contains a value.
Earned
Earned equals the % value multiplied by the Contract amount.
This total reflects earned revenue based on progress.
Billed
Billed equals all 3-2 Receivable Invoices/Credits with Invoice Type set to 1-Contract.
Subtract any sales tax amounts from this total.
Over/Under
Over/Under equals Earned minus Billed.
This result indicates overbilling or underbilling.
To reach zero at job completion:
- Costs must equal the budget.
- Contract must equal Billed.
Overbilling and underbilling definitions
Overbilling and underbilling describe billing status compared to completed work.
Overbilling occurs when you invoice for more than the completed work. This creates a liability on your balance sheet.
Underbilling occurs when you complete work but haven't invoiced it. This creates an asset on your balance sheet.
More information
The report shows only budgeted costs in the Cost column when actual costs exceed the budget.
Select Permit Costs to Exceed Budget to display both budgeted and unbudgeted costs in the Cost column.