Overview of Project Review

Use the Project Review application to see an overview of the project's numbers without running a report. For example, you might use Project Review to compare actuals to budgeted figures.

Which Rates?

Your System Administrator can help you decide which rates Advantage uses in calculating the actual amounts displayed on the Project Review form:

•	Cost Rates

•	Billing Rates

What do you want to do?

Select projects for review.

Access the Project Review form.

 Notes


Select Projects for Review

Access Project Review

To access Project Review, select Processing, Project Review from the Advantage menu.  The Project lookup appears.

Select Projects for Review

Projects are selected for review by using the Project lookup. Please see the topic called Using the Project List, in the Advantage online help, to learn how to use the Project lookup.


Project Review Form

Overview

The Project Review form is divided into two tabs: General, and Accounts Receivable.

What do you want to do?

Learn about the fields on the General tab.

Learn about the fields on the Accounts Receivable tab.


General Tab of Project Review Form

Purpose

Use this form to compare budget amounts to actuals.

Contents

Below is a list of all the fields on the General tab of the Project Review form. Click on a field name in the list to learn more about the field:

General fields and options

Principal 	Consultant Fee

Project Manager 	Estimate Overhead

Compensation 	Include Unposted Time

Cost Analysis

Labor 	Reimb Allowance

Overhead 	Reimb Consultants

Direct Consultant 	Other Reimbursable

Other Direct Expenses 	Total Hours

Profit/Variance Amount 	Percent Complete

Profit/Variance %

Bill Analysis

Labor 	Reimb Allowance

Direct Consultant 	Reimb Consultants

Other Direct Expenses 	Other Reimbursable

Profit/Variance Amount 	Percent Complete

Profit/Variance %


Accounts Receivable Tab of Project Review Form

Purpose

Use the form on the Accounts Receivable tab to review information about outstanding project accounts, and to enter or edit comments about project accounts.

Contents

The form on the Accounts Receivable tab consists of these sections:

Fields

Aged Accounts Receivable Grid


Fields on the Accounts Receivable Tab

The Accounts Receivable tab consists of fields, described below, and the Aged Accounts Receivable grid.

Contents

Below is a list of the fields on the Accounts Receivable tab. Click on a name in the list to learn more.

Client 	Only include invoices as of

Address 	Billed

Phone 	Received

Fax 	Total AR

Contact 	Retainer

Email 	Preview

Show Aging 	Last Receipt

Invoices to Include 	Comment


Project Review Aged Accounts Receivable Grid

Purpose

The Aged Accounts Receivable grid lists the invoice balances for a selected project, with corresponding aging data, interest amounts, retainage amounts, and invoice comments. This topic describes the grid fields.

Grid Fields

Below is a list of the fields on the Aged Accounts Receivable grid. Click on a name in the list to learn more.

Invoice 	Comments

Invoice Date 	Invoices on File

Total 	Retainage

Interest Included


Principal

The employee at your firm who is identified as the project's principal.


Project Manager

The employee at your firm who is serving as the project manager for the project.


Compensation

The compensation amount represents the total compensation your company expects to receive for the project. The compensation amount should include labor services and direct expenses.


Consultant Fee

The monetary amount of the consultant fees your company expects to receive for the project. The consultant fee amount should include fees for consultant work that are not reimbursable.


Estimate Overhead

If this field is selected, overhead will be estimated per the settings in the Overhead Allocation Setup for the period in which Overhead Allocation has not yet been run.


Include Unposted Time

If this field is selected, then data entry timesheet and timekeeper timesheet entries which have not yet been posted will be included. Please note that Labor Billing and Cost Amounts as well as overall hours will now incorporate unposted amounts. If employee provisional rates (which are only available for SQL Server users) are set to 0, then the employee job cost rates will be applied to the unposted hours to amend the cost and billing labor amounts. If overhead is set to estimate, then the unposted amounts will also be included in the actual overhead amount.


Labor (Cost Analysis)

Budget: The amount budgeted for labor.

Actual: This amount is calculated as all Job-to-Date timesheet postings. If unposted time is checked this will also include the extended amounts for all unposted hours. (Employee provisional rates will be used in calculating the amount. If these rates are 0, then the employee job cost rates as well as employee overtime rates will be applied to the unposted hours to amend the labor cost amount.)


Overhead (Cost Analysis)

Budget: The budgeted overhead amount (which is derived by multiplying the budgeted overhead rate by the labor amount).

Actual: The actual total overhead amount applied to the project. If you have not yet allocated overhead for the current period, Advantage uses an estimated overhead amount when "Estimate Overhead" is checked. If unposted time is checked, overhead will include the unposted hours extended at provisional or job cost rates.


Direct Consultant (Cost Analysis)

Budget: The amount budgeted for direct (non-reimbursable) consultants.

Actual: The total amount spent for direct (non-reimbursable) consultants.


Other Direct Expenses (Cost Analysis)

Budget: The amount budgeted for other direct expenses (not including direct consultant expenses).

Actual: The actual amount spent on direct expenses (not including direct consultant expenses).


Profit/Variance Amount (Cost Analysis)

Budget: Advantage calculates the profit/variance amount in this way:

Fee + Consultant Fee - (Labor Budget Cost (at Cost) + Overhead + Direct Consultant Budget Cost + Direct Expense Budget Cost)

Actual: Advantage calculates the profit/variance amount in this way:

Revenue amount - Spent amount (or: revenue - labor, expense and overhead amounts)


Profit/Variance % (Cost Analysis)

Budget: Advantage calculates the profit or variance percentage in this way:

Fee + Consultant Fee - (Labor Budget Cost (at Cost) + Overhead + Direct Consultant Budget Cost + Direct Expense Budget Cost) / Fee + Consultant Fee) *100

Actual: Advantage calculates the profit or variance percentage in this way:

Profit or variance amount / revenue *100


Reimb Allowance (Cost Analysis)

The monetary amount of your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees.


Reimb Consultants (Cost Analysis)

Budget: The amount budgeted for reimbursable consultant expenses.

Actual: The total reimbursable consultant expenses spent on this project.


Other Reimbursable (Cost Analysis)

Budget: The amount budgeted for reimbursable expenses other than consultant reimbursable expenses.

Actual: The total of reimbursable expenses other than consultant reimbursable expenses.


Total Hours (Cost Analysis)

Budget: Total hours budgeted for this project.

Actual: Total hours worked (regular, overtime, and secondary overtime).

If unposted time is checked, this will also include unposted hours


Percent Complete (Cost Analysis)

The project manager’s stated percentage of work effort completed on the project. This will match the %rpt on the Project Summary Report.


Labor (Bill Analysis)

Budget: The amount budgeted for labor.

Actual: This amount is calculated as all Job-to-Date timesheet postings. If unposted time is checked this will also include the extended amounts for all unposted hours. (Employee provisional rates will be used in calculating the amount. If these rates are 0, then the employee job cost rates as well as employee overtime rates will be applied to the unposted hours to amend the billing labor amount.)


Direct Consultant (Bill Analysis)

Budget: The amount budgeted for direct (non-reimbursable) consultants.

Actual: The total amount spent for direct (non-reimbursable) consultants, calculated at billing rates.


Other Direct Expenses (Bill Analysis)

Budget: The amount budgeted for other direct expenses (not including direct consultant expenses).

Actual: The actual amount spent on direct expenses (not including direct consultant expenses), calculated at billing rates.


Profit/Variance Amount (Bill Analysis)

Budget: Advantage calculates the profit or variance amount in this way:

Fee + Consultant Fee - (Labor Budget Bill + Direct Consultant Budget Bill + Direct Expense Budget Bill)

Actual:  Advantage calculates the profit or variance amount in this way:

Revenue amount - Spent amount (or: revenue - labor and expense amounts)


Profit/Variance % (Bill Analysis)

Budget: Advantage calculates the profit or variance percentage in this way:

(Fee + Consultant Fee - (Labor Budget Cost (at Cost) + Direct Consultant Budget Cost + Direct Expense Budget Cost) / Fee + Consultant Fee) * 100

Actual: Advantage calculates the profit or variance percentage in this way:

Profit or variance amount / revenue * 100


Reimb Allowance (Bill Analysis)

The monetary amount of your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees.


Reimb Consultants (Bill Analysis)

Budget: The amount budgeted for reimbursable consultant expenses.

Actual:  The total reimbursable consultant expenses spent on this project.


Other Reimbursable (Bill Analysis)

Budget: The amount budgeted for reimbursable expenses other than consultant reimbursable expenses.

Actual: The total of reimbursable expenses other than consultant reimbursable expenses, calculated at billing rates.


Percent Complete (Bill Analysis)

The project manager’s stated percentage of work effort completed on the project. This will match the %rpt on the Project Summary Report.


Client

This field shows the client name for the current client record.


Address

This field displays the client’s primary address.


Phone

This field displays the client’s phone number.


Fax

This field displays the client’s fax number.


Contact

This field displays the client’s primary contact person.


Email

This field displays the client’s email address.


Show Aging

Select this option to add aging columns to your report.


Invoices to Include

From the drop-down list, select one of the following options:

•	All

•	Paid in Full

•	Unpaid


Only include invoices as of

Select a month/year from the drop-down list for this option.


Billed

The total amount billed for this project.


Received

The amount received for this project.


Total AR

The total amount billed but not yet received for this project.


Retainer

The total retainer amount for this project.


Preview

Lets you preview those invoices generated via Interactive Billing.


Last Receipt

Displays a dialog listing the date of last receipt for the project, the amount posted for the select project or invoice, and the invoice number.


Comment

Displays the A/R Comments dialog. Now Access users as well as SQL server users are able to update the A/R Comments within Project Review and Invoice Review. The privileges tab of Security Setup controls the access to comments.


Invoice

The invoice number associated with the transaction.


Invoice Date

The date of the invoice associated with the transaction.


Total

The balance of the invoice(s), reduced by any outstanding retainage amounts, since retainage is not considered due at this time.


Interest Included

The amount of interest posted for past due invoice amounts.


Comments

A check in this box indicates that comments exist for at least one outstanding invoice for the project listed.


Invoices on File


Retainage

The retainage amount of the invoice not currently due.


Project Review Security

If the user does not report at billing, all billing information will not be visible. See Cost Rates is not applied to this report because it is a summary report (similar to the Project Summary). If retainers and/or retainage are not enabled, they will not be viewable on the Accounts Receivable tab of Project Review.


Working at the Project Level

If you are working at the project level (it will specify this in the task drop down), all task items are summed at the project level.