Values shown on the Accounts tab automatically accumulate as you record time and expenses to projects, bill projects, and receive payments. Amount for all projects carried out for a client are summarized on the Client—Account tab. All fields are read-only.
Following are descriptions for each Project—Accounts tab fields:
Date Filters:
You can filter the project's account information by a time period. You need to select the desired type of date filter from the drop-down list. The date filter defaults to All Dates but you can change it as needed. The options include All Dates, Today, This Month, Fiscal year, Year to Date, Last Week, etc. The From-To date fields are pre-filled accordingly. You can also select dates from the drop-down calendar. The date filters make it easy to compare the last year’s project performance with this year's performance.
Show Cumulative Data:
When selected for a parent project with child projects below it in a hierarchy, BillQuick Online rolls up data from the child projects (phases, segments and sub-segments) into the account fields. By default, this check box is not selected.
Refresh:
This will re-calculate and then display values on the screen.
Print:
Displays a preview of the Project Account Summary for the current project. It opens the report in the Report Viewer, where you can preview and print it.
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Cost |
Billable |
Billed |
Un-Billed |
Services |
It is calculated as the product of actual hours spent on a project and the cost rate of an employee working on it.
Cost = A Hours x Cost Rate |
It is calculated as the product of bill rate of an employee working on a project and billable hours spent on it, including taxes. (B-Hours x Bill Rate) x [1+ (Tax 1 + Tax 2 + Tax 3/100)] |
It is the total service amount billed against a project, including taxes and write-up/down.
B Hours x Bill Rate x WUD x (1 + Tax 1 + Tax 2 + Tax 3)* |
It is the total service amount that is yet to be billed against a project, including taxes.
B Hours x Bill Rate x (1 + Tax 1 + Tax 2 + Tax 3) |
Extra Services |
It is calculated as the product of extra hours spent on a project and the cost rate of an employee working on it. The time entries are marked as Xtra in this case.
Xtra Hours x Cost Rate |
It is calculated as the product of bill rate of an employee working on a project and extra hours spent on it above and beyond the contract amount, including taxes. (Xtra Hours x Bill Rate) x [1+ (Tax 1 + Tax 2 + Tax 3/100)] |
It is the total service amount that has been marked as extra and billed against a project, including taxes and write-up/down. Xtra Hours x Bill Rate x WUD x (1 + Tax 1 + Tax 2 + Tax 3) |
It is the total service amount that is marked as extra and yet to be billed against a project, including taxes.
B Hours x Bill Rate x (1 + Tax 1 + Tax 2 + Tax 3) |
Total Services |
The total cost of services for a project, including extra services.
Total Labor Cost = (A Hours x Cost Rate) + (Xtra Hours x Cost Rate) |
The total billable amount spent on a project.
(B Hours x Bill Rate) + (Xtra Hours x Bill Rate) |
It is the total service amount billed against a project, including extra services, taxes and write-up/down. |
It is the total service amount that is yet to be billed against a project, including extra services and taxes. |
Expenses |
The cost of billable expenses incurred on a project, excluding markup and taxes. |
It is calculated as the cost of billable expenses incurred on a project, including taxes and markup. (Units x Cost Rate) x [1 + (MU + Tax 1 + Tax 2 + Tax 3/100)] |
It is the expense amount billed against a project, including item taxes and markup. [Cost Amount x (1 + MU)] x [1 + (Tax 1 + Tax 2 + Tax 3)] |
It is the total expense amount that is yet to be billed against a project, including taxes and markup. |
Extra Expenses |
The cost of extra expenses incurred on a project. The expense entries are marked as Xtra in this case. |
It is calculated as the cost of billable extra expenses incurred on a project above and beyond the contract amount, including taxes and markup. (Units x Xtra Cost Rate) x [1 + (MU + Tax 1 + Tax 2 + Tax 3/100)] |
It is the expense amount that has been marked as extra and billed against a project, including item taxes and markup. [(Xtra Cost x Unit) (1 + MU)] x [1 + (Tax 1 + Tax 2 + Tax 3)] |
It is the total expense amount that is marked as extra and yet to be billed against a project, including taxes and markup. |
Total Expenses |
Sum of billable expense cost and non-billable expense cost incurred on a project. It includes both billable expenses and expenses that are marked as extra. |
Sum of both billable expenses as well as expenses that are marked as extra, including taxes and markup.
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Total expenses billed against a project-both billable and extra expenses, including taxes and markup.
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Total expenses that are yet to be billed against a project-both billable and extra expenses, including taxes and markup. |
Total Services + Expenses |
The total cost of a project. It is the sum of Total Services Cost and Total Expenses Cost. |
The total billable amount against a project. The sum of Total Services Billable and Total Expenses Billable. |
The total amount billed against a project. It is the sum of Total Services Billed and Total Expenses Billed. |
The total amount not yet billed against a project. It is the sum of Total Services Unbilled and Total Expenses Unbilled. |
Total Hours |
Total B-Hours |
Earned Value |
Earned Value % |
The total actual hours recorded to a project. Actual hours are recorded in the time entry screen along with the B (billable) Hours. |
Total hours marked as B (billable) Hours. |
The sum of Total Labor and Billable Expense amount. It gives the total value of earnings on a project for the billable services and expenses. It can be billed or yet to be billed. |
It is based on the percentage of contract amount earned to date on a project compared to the total contract amount. It is calculated as Earned Value/Contract Amount x 100. |
Project Retainer Paid |
Project Retainer Used |
Project Retainer Available |
Client Retainer Available |
Project retainer paid or received. It is the sum of all retainer payments entered in the Payment screen for a project.
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Retainer used or applied for a project. It is the sum of all retainer payments used or applied on invoices in the Payment or Billing Review screen for a project. |
This gives the retainer available for the selected project. It is the Project Retainer Paid - Project Retainer Used. |
This gives the retainer available for the client of a selected project. It is the Client Retainer Paid - Client Retainer Used. |
Total Spent |
Amount Billed (Pre-tax) |
Total Amount Billed |
Total Amount Paid |
This is the total amount spent on the project**. It is equal to the value of all entries (both billable and non-billable services and expenses) excluding markup on expenses. |
The amount billed to the project before applying taxes on it. It is calculated as Total Amount Billed – Tax. |
The total amount actually billed to a project or its phases (all invoices). This amount includes the tax applied to the billed amount.*** |
The total amount paid by the client, excluding retainers.**** |
Total Amount Owed |
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Total outstanding balance for the project or phase. It is the Total Amount Billed - Total Amount Paid. |
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*Its value can increase due to services billed in the Billing Review screen that are not found in the time entry screen. For example, in case of progress billing, there are pending time entries that can be released at a later date.
**For all non-extra services and non-extra expenses.
***Retainers are included because they are applied to the invoices when processed, which results in a reduced invoice amount and therefore a reduced Total Amount Billed.
****If you have applied a debit payment, that amount is subtracted from the total payments.