2 Replies Latest reply: May 17, 2018 12:56 PM by Joseph Ciamaichela RSS

    Not to Exceed issue

    Joseph Ciamaichela

      I am Trying to create a Work in Progress Backlog report using WIP Accounting practices. Where I am getting stuck is the not to exceed portion. I have a table that reflects the following fields. Estimated Reveue, Total Job Cost, and Recognized Revenue


      Estimated Revenue is the amount we believe we are going to be paid for the job


      Total Job Cost is the amount currently Spent in Cost on the job


      Recognized Revenue is (Total Job Cost / 0.40 (Target Profit Margin))


      I need help with the formula to make sure (Recognized Revenue does not exceed Estimated Revenue)