Was this page helpful?
Thank you!

Comments or suggestions?



Enter Email Address (optional)
email

Over/Under billing report for percentage complete projects

Creating a report to product financial reports based on the completed project.  This report will help you report using the percentage completed.
 
  • This report will be calculating the revenue to record using the percentage complete against the contract sales price.
Detailed instructions
To Create the report: 
  1. From the Reports menu, select Jobs, Time and Mileage.
  2. Click on the report Job Estimates vs Actuals Summary.
  3. Click on the Collapse button in the upper right of the report.
To filter for customer types:
  1. Click on the Modify (Customize) Report Button in the upper left.
  2. Click on the Filters tab.
  3. Under Choose Filter scroll down and select Customer Type.
  4. Click the drop-down arrow to the right of All Customer Types, select the customer type.
  5. Click  OK.
Export the report excel:
  1. Click for instructions on how to export report to excel.
Once in excel, modify Column H:
  1. Enter "Act. Costs / Est Costs" as a heading in Row 1.
  2. Enter "% Complete" as a heading in Row 2.
  3. Enter this formula  =sum(E3/C3) in rows 3 through the end of the report.
  4. Click on the column designator "F" to highlight the column.
  5. Click on Data on the Excel menu.
  6. Click on Text to Columns.
  7. Leave the original file type as "Delimited".
  8. Click the Next button.
  9. Leave the Delimiter as Tab.
  10. Click the Next button.
  11. Leave the column data form as General.
  12. Click the Finish button.

Modify Column L:

  1. Enter "Est Rev * % Complete" as a heading in Row 1.
  2. Enter "Earned Revenue" as a heading in Row 2.
  3. Enter this formula =sum(I3*F3) in rows 3 through the end of the report.
  4. Click on the column designator "L" to highlight the column.
  5. Click on Data on the Excel menu.
  6. Click on Text to Columns.
  7. Leave the original data type as "Delimited".
  8. Click the Next button.
  9. Leave the Delimiter as Tab.
  10. Click the Next button.
  11. Leave the column data form as General.
  12. Click the Finish button.
Column M:
  1. Column M "Diff" will display the revenue to record.
  2. Create a journal entry, debiting Revenue and crediting Unearned revenue (liability Account).
Note:  The over billings are negative numbers and the under billings are positive numbers
 
Note:  The Cost to Complete Summary report uses a manually-entered percentage complete rather than the actual percentage complete.  It does not provide the amount that is earned.  You cannot filter this report to eliminate completed jobs using the job status field or inactive job field .

If this solution does not resolve the issue, please review other available QuickBooks support options for additional guidance. You can also read and post messages relating to your issue on the QuickBooks Community forums.

KB ID# HOW13021
9/23/2014 1:21:57 PM
PPRDQSSWS407 9102 Pro 2013 266ff9