We are about to enter into agreements for several multi-phased projects. The way I see it, we have the following three options when setting this up in Sage 300 CRE:
- Multiple Contracts, matched to Multiple Jobs;
- Single Contract, with multiple Jobs;
- Single Contract and Single Job, using Extras for each job.
I'm curious if anyone has any experience with or preferences for any of the above options (or an option that I'm missing).
I like option 1, as everything is separated with regard to the job cost and contract, which seems like it would be easiest when complying with the new revenue recognition. We do like the idea that if we have the same subcontractors on all phases/jobs, then we can issue a single commitment across all jobs and then just do Change Requests and Commitment COs on a single job basis. To me the largest drawback is that we would not be able to generate a single pay application due to multiple contracts being used.
Option 2 seems to solve the not be able to generate a single pay application problem, but then Contract Item numbering seems like it could get cumbersome as you would want to keep the projects and change orders together on the pay application. Renumbering items in Contracts is a bit of a pain.
Option 3 does not seem to do much more than Option 2 and it seems like it would add an extra layer of analysis to our WIP schedule in determining the new % complete on each phase/sub-job in order to comply with the new revenue recognition standard.
Any thoughts or insights would be greatly appreciated!