Assigning Projects to a Contract
The projects you add to a contract specify the work that you are going to perform for your customer. Project and Job Costing lets you:
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Add any number of projects to a contract. Note that you can add only projects that you have first set up using the Projects form.
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Add projects using the grid on the Project tab of the Contract Maintenance form, or you can use the Project Maintenance form.
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Accept the default settings specified in the project record, or change the settings to suit the particular contract you are setting up. (You use the Contract tab of the Contract Maintenance form to specify default settings for all the projects within a contract.)
For each project you assign to a contract, you identify the period during which you will complete the work, the method by which you will recognize revenue, the types of costs that will appear on invoices for the project, and the markup and any overhead costs that will be included in the invoiced amounts. You also specify the accounts to which cost and revenue transactions will be posted.
Depending on the project type and accounting method, you also specify the tax class and tax included status for the project or its categories.
When you use a template to set up a contract, the new contract will include the projects, categories, and resources used in the original contract. You many not need to add any new projects.
Note that you must first add a project to your database (using the Projects setup form) before you can assign it to a contract.
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