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Release Notes 24.14 - July 2024

Last updated: July 25, 2024

What’s new in version 24.14

New tax-exempt features for Billable Items and NRBs, updated form layouts and new reporting metrics for monitoring Job Performance. Read on for details!

Sales Tax

It’s now possible to control how Sales Tax is applied to specific items in a Price Book and all Non-Recurring Billable items created under a Job.

First, Edit any item in a Price Book.

Locate the new Sales Tax Override section. This field allows users to select a specific tax rate that will take precedent over any default tax rate applied when invoices are created. If a 0% entry exist in your Sales Tax Rates settings, users could use a ‘No Tax’ option to exempt the item from having any tax applied.

Additionally, on Job forms, users can now select a specific tax rate (or ‘No Tax’) to be applied to all Non-Recurring Billables under Billing Rules.

Any selection here will be applied in addition to any ‘Vendor Tax’ added when NRBs are created.

Job Performance & WBS

We’ve introduced a number of new calculated fields for our Job Performance and WBS Schedule reporting. Project Managers can now extract more valuable insight from Job activity.

On the Job Performance page, users have access to the following additional columns:

Column Name	Definition
EAC $	Estimate at Completion is used in forecasting the final cost given the current cost and progress of the project. This is calculated by looking at the Job’s current Cost $ column plus the Remaining Spend $ column.
Margin $	Calculated by taking all Billable $ and subtracting Cost $.
Margin %	Calculated by subtracting Billable $ and Cost $ then dividing by Billable $.
Earned Value $	Calculated by multiplying Budget $ and % Complete.
WIP $	Calculated by subtracting Billable $ by Invoiced $
Remaining Spend $	Calculated by taking the value of 1 divided by % Complete minus 1 and multiplying that by Cost $. For example, if it costs $1,000 to finish 40% of the WBS Schedule, the Remaining Spend is 1000 * (1/0.4 - 1) = $1,500
Remaining Budget $	Calculated by subtracting Budget $ minus Cost $.
Invoiced $	Calculated using the sum of all invoice line items (pro-rated for retainage/discount), excluding tax.
CPI	Cost Performance Index, calculated by dividing Earned Value $ by Cost $. Read more about Cost Performance Index.

WBS Schedules have also been updated to accommodate these new metrics and more. Chart metrics are now grouped into the following primary categories.

WBS Parent Group	Columns
Basic Properties	Activity Code Cost Code Deliverable Name
Quantity Metrics	Original/Changes/Ameded Quantity Completed Quantity Remaining Quantity Calculated by subtracting Amended Quantity minus Completed Quantity. % Complete Time Card Hours
Schedule Metrics	Planned, Revised, Actual Start, End Dates
Contract & Budget Metrics	Contract $ Earned Revenue Earned Value Contract Unit Rate $ Calculated by dividing Amended Contract $ by Amended Quantity only for terminal (leaf) WBS items. Budget Columns Planned Unit Cost Calculated by dividing Budget $ by Amended Quantity, only for terminal (leaf) WBS items.
Cost & Financial Metrics	Cost $ Remaining Spend $ Remaining Budget $ Committed POs $ Cost Unit Rate $, Calculated by dividing Cost $ by Amended Quantity, only for terminal (leaf) WBS items. CPI (Cost Performance Index) EAC $ (Estimate at Completion)
Revenue & Profitability Metrics	Billable $ Non Billable $ Revenue Unit Rate $ Calculated by dividing Billable $ by Amended Quantity, only for terminal (leaf) WBS items. Planned Margin %, Calculated by taking the value of Amended Contract $ divided by Budget $ and dividing that by Amended Contract $. Margin % Margin $ Invoiced $ WIP $

For more information on maximizing your Job Performance, be sure to visit our Product Guide.

Forms

To improve the readability of our forms in PDF format, we have reintroduced table row and column borders, and have new alignment options available to customers. All text fields will be left-aligned, while numerical values will be right-aligned.

Timesheet Reconciliation Report

We’ve deployed a small update to the Timesheet Reconciliation Report that will display the total number of hours under the Quantities column. This should make it easier for users looking to compare search totals with other Timecard or Ticket reports.