Forecasting Project Billings
When a project specifies a Time and Materials or Fixed Bid schedule, that billing schedule is applied to the associated estimate or sales order. After the billing schedule is identified on the sales order, you can use billing schedules to forecast billings for the project.
Billing forecasts determine when you expect currency to be billed based on the effort planned to be expended across the planned project billing interval.
Service items from project tasks are sourced to the sales order to provide a summary of quantity, cost, and revenue for the project. Then, this information is used to calculate the gross margin for the project.
Projected billings associated with a project are included in financial forecast reports. The forecast amounts adjust automatically based on actual work performed on the project and any changes made to the project schedule.
Use the following to view billing forecast data:
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Forecast by Item Summary Report - shows the projected and weighted forecasts for pending and closed business. Customize the report to show revenue for service items by time interval.
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Sales Order by Item Report - shows projected revenue for closed sales orders. Customize the report to show revenue for service items by time interval.
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Schedule subtab of the History subtab of the sales order - displays the revenue expected for the project or projects on the sales order for each billing.