Note the following fields are available on the Project Profile > Accounting tab as well as the Task > Accounting tab and are only available with Project Tracking and Project Portfolio family of Unanet licenses.

Generally speaking, if a task has a value, it will be considered and applied for the processing of that task and potentially have its values limited.  Project level limits will continue to consider all data on the project.

• Funded Value - This typically would be the same as the Project Revenue row value in the Budgeted column shown on the Project Cost Summary Report (calculated as sum of Labor and Expense Bill Budget values), and represents the approved value of the work on the contract (i.e., authorized expenditure) and should include the total funded fixed fee. The Project Manager would monitor whether the incurred costs + fees were approaching the Funded Value.  This value can be positive or negative.   

For cost plus fixed fee projects, this amount will still represent the cost and full fixed fee portion of the project.  The fee portion of the amounts will be managed in the Fee(s) section of the Project Profile > Accounting tab.

 

When a company negotiates a contract with a fee type of Time and Materials to a Maximum or Cost Plus to a Maximum, the Billable Amount and Revenue Amount generated for the project should be limited to the maximum amount negotiated.  In such cases, Unanet can limit the billable amount to the specified funded value.  In some cases, the funded values can apply to just parts of the project (e.g. billings for travel or a specific portion of the project may be limited to a specified maximum).  The limits for the billed amounts and the amounts to be recognized as revenue can also be temporarily different in those cases where the existing contract includes billing limits that they expect to be increased via change orders.  

When these options are checked, the system will continue to produce all of the regular transactions for the actuals but will also generate additional transactions (which we refer to as Funded Value Cap Adjustments) that will reflect a reduction in the amounts ensuring the totals do not exceed the Funded Value.  Each time the posting process is run for a project, the amounts and these options are checked and the system will regenerate appropriate transactions (either adding more or reversing out more depending on the current values).  This will accommodate changing the values over time.

• Limit Billing to Funded Value - Determines whether billing for the project or task will be limited to the specified Funded Value (only allowed to be checked when Funded Value provided).  At the project level the amount used to compare is Funded Value less fixed fee.  
  
• Limit Revenue to Funded Value - Determines whether revenue for the project or task will be limited to the specified Funded Value (only allowed to be checked when Funded Value provided).  At the project level the amount used to compare is Funded Value less fixed fee.  

 

Note you do have the ability to post these Funded Value Cap Adjustments to a separate account in the GL to better highlight this situation.  These values are available in several reports.