Financials.
For ADP projects, the budget is determined from a commercial model located under Operations, Financial, ADP, and then select the commercial model for the project.
Keep in mind the modules needed for the project, the number of employees, as well as the 20% project management factor assumed on projects. These are calculated separately.
Add up the figures for the modules, taking the number of employees in mind, for example: ADP, TLM, Accruals, and Scheduler > 300 employees is 187 hours to do the consulting. For the PM, the sum of TLM, Accruals, and Scheduler > 300 employees is 37 hours, adding up to 224 hours. In this example, that means the BUDGET is $22,400.
TARGET MARGIN is 60%.
Add the CURRENCY that this project will be invoiced in.
BE CAREFUL as you cannot change the currency once the project is saved.
Select the RATE CARD according to the project.
The REVENUE RECOGNITION METHOD is "none".
Select the TASK BILLING MODE according to the project.
TASK DEFAULT is "Billable".
If we have any changes to the Schedule OrBudget they need to be approved.