Things to do before you add the first Line Item to the Schedule of Values
Updated
Things to do before you add the first Line Item to the Schedule of Values
Suggested Prior Reading
Schedule of Values
Schedule of Values – Layout and Navigation
Overview
The Accounting Method for the Schedule of Values should be determined before adding the first line item. Once the first line item is added, the Accounting Method can not be changed. It is set for the entire Schedule of Values.
The two options for the Accounting Method are:
· Amount Based - Entering a single dollar amount for all the line items on the Schedule of Values
· Unit-Qty Based – The Unit, Quantity and Unit Price is entered and the total amount is automatically calculated by multiplying the three together.
Steps
1) On the Schedule of Values form, click the drop down for the Accounting Method
The two Accounting Method options display.
2) Select the appropriate one.
The column headers for the line items will change depending on the Accounting Method displayed.
Next Steps
Add a Line Item to the Schedule of Values
Bulk Import the Schedule of Values Line Items
Edit a Line Item on the Schedule of Values
Delete a Line Item on the Schedule of Values
