Use the Prior Period Earned Revenue Entry screen to record earned revenue at your fiscal year end. The following procedure will guide you through this process.

1. Print the Contract Status Report, dated at your fiscal year end. You will use this report to make your earned revenue entries.
2. Next, go to Job Cost > Data Entry > Prior Period Earned Revenue.
3. Enter the last day of your fiscal year in the date field.
4. Using the Contract Status Report, enter the job and the incremental revenue earned in this fiscal year.
   Important: Only enter the incremental earned revenue!

   For example, if you are in the third year of the project, only enter the revenue earned in year three. Revenue for the first two years is assumed to have been entered at the end of each year.

5. Repeat step 4 until all jobs have been entered.
6. Next, click the Update button.
7. Enter the applicable date selections and print the report. Keep this with your other year end reports.
8. After reviewing the report for accuracy, select Continue.

   Q. Why enter only incremental revenue?

   A. When printing the Contract Status Report, the Through Prior Year End column will be the sum of the incremental amounts.