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How do I determine my accounting method?

The accounting method for a specific contract can be set by navigating to the "Advanced Settings" sub tab. From here, you can determine whether you want to use an "Amount Based" or "Unit/Quantity" based accounting method.

  • Amount Based: Allows you to enter a lump sum amount on a line item for your schedule of values.
  • Unit/quantity Based: Allows you to input the quantity and unit price for a given item and the system auto calculates the total value of the line item for you. 

Things to Consider:

  • Once you have one or more line items on a contract, you will not be able to change your accounting method. 
  • If a commitment or prime contract change order needs to use an Unit Quantity based accounting method, the commitment's or prime contract's accounting method must be Unit Quantity based. It is not possible to have an Amount Based commitment or prime contract with Unit Quantity based commitment change orders or prime contract change orders.
  • If a commitment or prime contract is using an Unit Quantity based accounting method, individual line items in the original SOV or a change order SOV can utilize the Subtotal Override option to use an Amount Based accounting method.
  • Line items that are Unit Quantity based with the default calculated method will be billed for in terms of quantity in subcontractor invoices or owner invoices.
  • Line items that are Unit Quantity based with subtotal override method will be billed for in terms of dollar value/amount in subcontractor invoices or owner invoices.
  • If a commitment or prime contract is using an Unit Quantity based accounting method, the Materials Presently Stored column will not be available in subcontractor invoices or owner invoices.
  • If a commitment is using an Unit Quantity based accounting method, the Subcontractor Schedule of Values will not be available.