The aec360 Solution offers an option to adjust revenue as part of the fee management functionality. There are three options applicable for Fixed price approaches (Progress or fixed fee) where the adjustment can be calculated based on Total revenue, invoiced revenue or hours. NTE adjustments are applicable to T&E NTE projects where the revenue needs to be adjusted, for example, on cases where the project execution has overreached the contract amount.
Revenue adjustment feature is enhanced to generate auto-reversals based on 606 revenue compliance requirements, this reversals are applicable to ‘Contract cap’ method for percentage complete and ‘NTE’ revenue adjustments completion methods.
