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For engagements configured to use the percent complete method of revenue recognition, the revenue recognition wizard enables the user to apply the recommended or overridden recognized revenue amount to time cards. For engagements configured to use the revenue schedule method of revenue recognition, the wizard applies the amount the scheduled revenue. In all cases the amount of revenue to recognize applies to the engagement on the whole. To enable understanding project profit at a fine-grained level Projector needs to allocated the revenue to individual time cards. This is always done using the percent complete method using a weighted average of the time card's contribution to the percent complete basis amount. For example, if a time card has 8 hours of work in a period where $16,000 of revenue was recognized for 80 hours then that time card will receive $1,600 of system revenue (10% of the total amount recognized).
The percent complete basis can be one of the following: