Estimate Sub Contract Valuation Plan Items

Explanation

Use this activity to manually estimate the certified/invoiced amount on future planned invoice dates. The estimations can be done in percentages or amounts. Also, the estimations can be done by cumulative basis or individual (discrete) basis. The estimated values can be entered on cumulative or discrete columns accordingly. For an example, if the estimations were done individually for each item, and in percentages, the Discrete (%) column can be used to enter the estimates. The system will calculate the Discount, Retention, Deduction, Net Amount, Tax Amount and Gross Amount based on the Discrete Value of each item.

The users are expected to make sure that the Adjusted Contract Value is distributed among the items. Also, the total of the Retention Released amount is equal to the total of the Retention column.

Prerequisites

System Effects