Percentage of Completion Accounting

Chris,

We use %comp for all our revenue generating jobs. Its based on labour hours
and material costs against actuals as a percentage of Contract Value (total
revenue for the job).

We are still on ver. 4 and use Crystal Reports to produce the output from
the production database. There is still the manual entries into the GL but
no standalone file that has to by maintained.

Best regards,

Jerry Solobay

IS/IT Manager

Ebco Aerospace
jsolobay@...
www.ebco.com


-----Original Message-----
From: chrsmail@... [mailto:chrsmail@...]
Sent: Wednesday, July 11, 2001 12:48 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Percentage of Completion Accounting

We are just starting to implement 5.0 and I am looking for a better
way to handle this issue. Any suggestions would be appreciated!

We do percentage of completion accounting based on the percentage of
costs realized to date versus the estimate for the job. This is
currently done on a spreadsheet, then a journal entry is made to
recognize the sales. Two problems: 1. It's a pain having to maintain
a separate spreadsheet, and 2. Sales analysis does not match the
financials. Oh, and this is just for one product line, the rest of
our products flow normally through the system.

Anyone have any ideas for a better way to do this?

Thanks,
Chris


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We are just starting to implement 5.0 and I am looking for a better
way to handle this issue. Any suggestions would be appreciated!

We do percentage of completion accounting based on the percentage of
costs realized to date versus the estimate for the job. This is
currently done on a spreadsheet, then a journal entry is made to
recognize the sales. Two problems: 1. It's a pain having to maintain
a separate spreadsheet, and 2. Sales analysis does not match the
financials. Oh, and this is just for one product line, the rest of
our products flow normally through the system.

Anyone have any ideas for a better way to do this?

Thanks,
Chris