Contract Amounts
The P52G01M program enables you to maintain two different types of amounts: awarded amounts and funded amounts. Typically, awarded amounts represent the total value of the contract and funded amounts represent the amounts that the customer has authorized for part of the work. Funded amounts are usually funded in increments over time.
At the contract level, you enter only the total awarded amounts, and then you enter funded amounts at each funding level for the contract. Using the contract hierarchy, the system sums the funded amounts from each funding level, so that when you view the contract level, you see the total funded amounts for the contract. You do not enter any amounts at the invoice level; you view the awarded amounts for the contract and the total funded amounts for the funding levels attached to the invoice.
Depending on the values that you select for the Billing Limit and the Revenue Limit fields, the system might use these amounts as limits when you process invoices and recognize revenue. If you select amounts as limits, and it does not bill for invoice, fee, or award fee amounts or calculate revenue for amounts that exceed the limits.
You use the Billing Limit and the Revenue Limit fields in the contract to specify whether the system should use the awarded or funded amounts, and whether to apply the limits by line or by total. To apply the limits by line, the system applies the cost, fee, and award fee limits separately to the corresponding billing lines. To apply the limits by total, the system applies the total of the cost, fee, and award fee amounts.