Actuals impact in a fixed price engagement
Applies to: Project Operations for resource/non-stocked based scenarios, Lite deployment - deal to proforma invoicing
The following table lists the actuals of different transaction types that are created at various events in a fixed price engagement.
| Event | Cost actual | Unbilled sales actual | Billed sales actual | Example |
|---|---|---|---|---|
| Time is created. | Not applicable | Not applicable | Not applicable | Bob Kozack, from the Fabrikam US organizational unit that has a cost rate of 100 US dollars (USD 100) per hour, is working on a project that is named "Arm Installation at Adatum." This project is mapped to a fixed price billing method on the contract line. Here is a sample time entry from Bob Kozak: Bob Kozack - 8 hours |
| Time is submitted. | Not applicable | Not applicable | Not applicable | A cost journal line is created for the time entry. The default cost rate is entered in the journal entry. |
| The time entry is recalled before it's approved. | Not applicable | Not applicable | Not applicable | |
| Time is approved. | A cost actual is created. | Not applicable | Not applicable | New actual that is created:
|
| Time approval is canceled. | The adjustment status of the original cost actual is updated to Adjusted. A reversal cost actual is created that has an adjustment status of Unadjustable. |
Not applicable | Not applicable | Existing actual that is updated:
New actual that is created to reverse the previous financial impact:
|
| The time entry is recalled after it's approved. | The adjustment status of the original cost actual is updated to Adjusted. A reversal cost actual is created that has an adjustment status of Unadjustable. |
Not applicable | Not applicable | Existing actual that is updated:
New actual that is created to reverse the previous financial impact:
|
| The contract is confirmed. | The adjustment status of the old cost actuals is updated to Adjusted. Reversal cost actuals are created that have an adjustment status of Unadjustable. New cost actuals are created after the contractual rules are reevaluated. |
Not applicable | Not applicable | Existing actual that is updated:
New actual that is created to reverse the previous financial impact:
New actual that is created for the reevaluated financial impact:
|
| An invoice is created. | Not applicable | Not applicable | Not applicable | |
| The invoice is confirmed with a milestone. | Not applicable | Not applicable | New milestone-based billed sales actuals are created. | Existing actual that remains unchanged:
New actual that is created to record the billed sales values:
|
| The invoice is corrected to credit the milestone. | Not applicable | Not applicable | Reversal billed sales actuals are created. | Existing actual that remains unchanged:
Existing actual that is updated:
New actual that is created to reverse the previous billed sales values:
|