Quick Tip: Key2Act Job Cost – Unable to bill full-posted amount plus profit

Posted By
BDO

If you have a job in Microsoft Dynamics GP with the contract type Cost Plus and billing type Standard, the cost code setup shows a profit type setup. It will range from three to eight, meaning that the Expected Contract Amount is the same as the posted Cost Plus Profit amount. Based on the profit type selected, one should be able to bill for Expected Contract Amount. However, the system doesn’t allow to bill for full Expected Contract Amount. If you have encountered this situation and had no luck fixing it by running the job reconciliation, there could be multiple reasons why. Here are a few things to look for:

There is a possibility that one or more cost codes may have initially been set up as non-billable (Profit type 1) and then changed later. This change generates a notification that a financial transaction batch with the prefix PRFTCHG has been generated. One must post that batch to correct the transaction details. If this batch is deleted or not posted, it may cause transaction mismatch.

To correct the issue, follow these steps:

  1. Review the Expected Contract amount on the Job Maintenance and Job Status pages. The Expected Contract amount should be different than Posted Cost Plus Profit.
  2. Using SQL, review table JC20001 for the specific job causing the issue.
  3. Filter data for Profit type, either in MS Excel or SQL (if pro).
  4. Look for any transaction lines with a Profit Type other than setup on Cost Codes.
  5. If you find lines with different Profit Types, calculate the amounts of those lines to determine if the sum is equal to the difference between Posted Cost Plus Profit and Expected Contract Amount.
  6. If the answer is yes, correct those lines using Update Script. This should correct the Profit Type column to show correct Profit Type values and match with Cost Code Profit Type.
  7. Reconcile the specific job using the Job Reconciliation utility.
  8. Review Expected Contract amount on the Job Maintenance and Job Status pages to make sure that it matches with Posted Cost Plus Profit (Figure 1).
  9. Create Job Cost invoice to make sure it allows you to bill the correct amount (Figure 2).

If the problem is not related to Profit Type as mentioned above, connect with [email protected].

You can also visit our website to get more information about solutions provided by BDO.


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