In this simple example, the fixed fee is $1000. The entire amount is invoiced and work has not yet begun.
Complete % is the same as earned %, it is your stage progress as indicated by your project manager expressed as a percentage. As a value, however, these two are slightly different- complete % is multiplied by the fee, while earned % is multiplied by budget.
Like in a spreadsheet, when an amount is in parentheses ( ), this amount has been deducted from the stage.
Unearned income | 1000 |
Complete % changes to 50 | 0 |
Transaction view | (500) |
New unearned income amount | 500 |
Credit note on invoice | 100 |
Transaction view | (100) |
New unearned income amount | 400 |
Complete % changes to 90 | 0 |
Transaction | (400) |
New unearned income amount | 0 |