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Summary section on project profiles – Calculations for billed and available amounts (Changepoint 2021)

The Summary section on project profiles contains the following information:

  • General information
    • project status
    • project name
    • customer name
  • Budget totals (from the most recent frozen budget revision)
    • Billing – total billing amount
    • Cost – total cost amount
  • Effort totals (from the most recent project rollup)
    • Planned – total planned effort from the most recent project rollup
    • Actual – total actual effort from the most recent project rollup
  • Billings totals
    • Billed – amounts from time entries, request time, expense entries, products, and fixed fees that have been invoiced to date. Fixed fee amounts are prorated based on actual effort or number of tasks if actual effort is not available when fixed fee is associated with tasks under different projects. For details, see below.
    • Available – amounts approved to be billed from time entries, request time, expense entries, products, and fixed fees. Fixed fee amounts are prorated based on actual effort. If there is no actual effort then planned effort is used. If there is no planned effort then the number of tasks is used. For details, see below.
  • Margin information (from the most recent frozen budget revision)
    • margin amount
    • margin percentage

Note: Monetary amounts are converted to the resource's currency (from their user account) and are based on exchange rates for the item date or the current date as applicable.

Billed amount

The Billed amount includes amounts that have been invoiced from the following items:

  • time entries 
  • request time – requests that are associated with the project and request time is billable
  • expense entries
  • products that are associated with the project on the contract
  • fixed fees that have been invoiced to date. Fixed fee amounts are prorated based on actual effort or number of tasks if actual effort is not available when fixed fee is associated with tasks under different projects 

Example calculations for fixed fee billing amounts

If the fixed fee is invoiced, regardless of the invoice date, the amounts for project tasks are prorated based on actual hours instead of planned hours.

Note: Hours are counted as actual based on the Time Control setting in Changepoint Administration.

For example, fixed fee amount=$100 USD, date is March 1, the fixed fee has been invoiced.

Project 1:

  • task 1A associated with fixed fee, planned hours =10, actual hours = 15
  • task 1B, associated with fixed fee, planned hours= 20, actual hours = 25

Project 2

  • Task 2A, associated with fixed fee, planned hours =70, actual hours = 35

The percentage of the fixed fee amount that is billed for project 1 is:

Total actual hours for project tasks divided by the total hours for both projects multiplied by 100

(15+25)/(15+25+35)*100=53.33%

The available percentage for project 2:

(35)/(15+25+35)*100=46.67%

If there are no planned hours for tasks associated with the project, then the percentage is calculated based on the total number of project tasks.

The percentage of the fixed fee amount that is available for project 1 is:

Total number of tasks for the project divided by the total number of tasks for all projects for the fixed fee multiplied by 100:

(1+1)/(1+1+1)*100=66.67% 

Billed for project 2:

(1)/(1+1+1)*100=33.33%

If split billing were set up on this contract, for example: customer A – 30% and customer B – 70%, and a $100 fixed fee is billed to customer A only, then:

  • billed amount for the fixed fee will be $30, which would be prorated for each project using actual hours according to the formula, above
  • available amount is $70, which would be prorated for each project using planned hours according to the formula, above

Available amount

The Available amount includes amounts that are approved to be billed from the following items:

  • time entries
  • request time – billable request time for requests that are associated with the project and have not been invoiced
  • expense entries
  • products – products that are associated with the project on the contract, product date is in the past, and have not been invoiced
  • fixed fees – fixed fee amounts are prorated based on actual effort. If there is no actual effort then planned effort is used. If there is no planned effort then the number of tasks is used.

Example fixed fee – Available billing amount calculations

Note: Available billing amounts based on actual hours are calculated the same way as those based on planned hours.

When there are planned hours for a fixed fee, the available billing amount is based on a percentage of total planned hours.

Fixed fee is associated with tasks for two projects (project 1 and 2), fixed fee date is today or earlier.

Fixed fee amount=100, with fixed fee date on March 1, not yet invoiced.

Project 1

  • task 1A associated with fixed fee, planned hours =10
  • task 1B, associated with fixed fee, planned hours= 20

Project 2

  • task 2A, associated with fixed fee, planned hours =70

The percentage of the fixed fee amount that is available for project 1 is:

Total hours for the project divided by the total hours for all projects for the fixed fee multiplied by 100:

(10+20)/(10+20+70)*100=30% 

The percentage of the fixed fee amount that is available for project 2:

(70)/(10+20+70)*100=70%

If there are no planned hours for all the tasks associated with the project, the percentage is calculated based on the total number of project tasks.

The percentage of the fixed fee amount that is available for project 1 is:

Total number of tasks for the project divided by the total number of tasks for all projects for the fixed fee multiplied by 100:

(1+1)/(1+1+1)*100=66.67% 

The percentage of the fixed fee amount that is available for project 2:

(1)/(1+1+1)*100=33.33%

Split billing

When split billing is set up on a contract, billing for all items is distributed to the specified customers at the specified percentage.

For example, split billing is set up with 30% billed to customer A and 70% to customer B.

If a billable project request has 10 hours submitted and approved, and the billing rate is $5 USD:

  • if nothing is billed:
    • billed amount = 0
    • Available amount would be 5*10= $50 USD 
  • if an invoice is created for customer A and not for customer B:
    • 30% of 10 hours is 3 hours * 5 = $15 USD billed
    • 70% of 10 hours = 7 hours * 5  = $35 USD available