I am trying to figure out the best way to setup new fixed price projects. We have fixed price projects with a lot of different cost categories. We care about tracking the costs by category, but do not care about tracking revenue by category, only by project. The projects often have a lot of adjustments to the budgeted costs. It is a hassle to setup the projcts and make the project amount come out to the contract amount when the profit is spread among different cost categories. In addition it is a hassle when the budget amount changes.
Currently I set a cost category called "Billing" It has no costs but does have total profit. The other cost categories have costs but no total profit. All categories are Profit Type of Total Profit and Billing Type of STD. By setting projects up this way I only have to adjust the "Billing" cost category when the budget changes.
Is this the best way to tackle my problem? Anyone got a better idea?
Thanks, Gene
Currently I set a cost category called "Billing" It has no costs but does have total profit. The other cost categories have costs but no total profit. All categories are Profit Type of Total Profit and Billing Type of STD. By setting projects up this way I only have to adjust the "Billing" cost category when the budget changes.
Is this the best way to tackle my problem? Anyone got a better idea?
Thanks, Gene