Difference Between CP/FP and Time and Materials in Project Accounting

Gäller för: Dynamics GP 2010Dynamics GP 2013Microsoft Dynamics GP 2015

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The document below will go through the main differences between the types of accounting methods, types of fees, etc. for each type of project.


Time and Materials
Direct Billing
NC/NB Billing types
When Performed and When Billed Cost Recognition
Rate Table
Accrued Revenues
Service Fee
Billing and Revenue together


TM Profit Types:
Billing Rate
Markup %
None

Cost Plus/ Fixed Price
Earnings in Excess of Billings (EEB) and Billiing in excess of Earnings (BEE) Accounts
Completion Method
Cost-to-Cost, Effort Expended, and Completed Cost Recognition
STDbilling type only
No Rate Table
No Accrued Revenue
Retention Fee
Separate Revenue Recognition


CP Profit Types:
% of Actual
% of Baseline
None
Profit/Unit- Fixed
Profit/Unit-Variable
Total Profit


FP Profit Types:
% of Baseline
Profit/Unit-Fixed
None
Total Profit




This article was TechKnowledge Document ID:24624