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Revenue

The Revenue module in Site Specs allows you to manage, track, and forecast project revenues with precision. This page provides an overview of the key features and workflows, referencing the screenshots for visual guidance.

Overview​

The Revenue page provides a detailed table of all revenue line items for your project, including pay item numbers, descriptions, units, contract values, changes, and current pay estimates. You can switch between Billing and Forecasting tabs to manage current and future revenue projections.

Revenue Table Overview

Key Features​

Billing and Forecasting Tabs​

  • Billing: Track current contract values, pay estimates, and materials stored for each pay item.
  • Forecasting: Project future revenues and manage changes over time.

Revenue Table Columns​

  • Pay item no., Owner pay item, Description, Unit, Unit cost, Contract Estimated QTY/REV: Core contract details for each revenue line.
  • Previous changes, New changes: Track modifications to contract values.
  • Current Contract, Current pay estimate, Materials currently stored, JTD - Cumulative: Real-time tracking of contract and payment status.

Contract Settings​

Click the Contract settings button to adjust retainage, contract date, schedule of values, pay app number start, and contract/supplier agreement rules.

Contract Settings

  • Retainage: Choose summary, line item, or lump sum retainage.
  • Contract date: Set the effective date for the contract.
  • Schedule of values: Control how completed/stored values are handled.
  • Materials Presently Stored: Decide how materials are tracked in new pay applications.
  • Pay app number start: Set the starting number for pay applications.
  • Contract/Supplier Agreements: Prevent pay apps from exceeding contract values.

Locking and Managing Contracts​

After entering all revenue lines, use the Lock button to save your budgets and enable pay period tracking and forecasting.

Lock Contract

Decimal Display Settings​

Adjust the decimal display for contract values. Note: You cannot change the decimal count after a pay application has been generated for the project.

Decimal Display Settings

Exporting and Managing Columns​

  • Export: Download the revenue table for reporting or analysis.
  • Manage columns: Customize which columns are visible in your view.

Screenshots​

  • Revenue Table Overview: Revenue.png
  • Contract Settings: RevenueContractSettings.png
  • Lock Contract: RevenueLockUnlock.png
  • Decimal Display Settings: RevenueDecimalSettings.png

Best Practices​

  • Regularly update revenue line items to reflect contract changes and pay applications.
  • Use the lock feature to prevent accidental changes after budgets are finalized.
  • Export data for meetings, audits, or financial reviews.
  • Customize columns to focus on the most relevant data for your team.

Issues or Questions?​

Contact Support at Support@SiteSpecs.io