Use this dialog box to specify contract or purchase order invoice cost options, Schedule of Value preferences, default Retainage Calculations, and default Tax Calculations for requisitions generated from this contract or purchase order. Preferences set here apply to this contract/purchase order and override the preferences set in the Requisitions section of the Project Settings Dialog Box.

Contract/Purchase Orders:

Do Not Allow Invoices to Exceed Revised Contract/Purchase Order Value

Select to ensure that invoice cost values do not exceed the revised values of the contract or purchase order.

This setting will over rule the Allow the Value in Completed and Stored to Date (column G) To Exceed the Line Item's Budget in Scheduled Value (column C) setting if it was enabled on the Project Settings Dialog Box.

Schedule of Values:

Allow the Value in Completed and Stored to Date (column G) To Exceed the Line Item’s Budget in Scheduled Value (column C)

Select to specify that values can exceed the budget (scheduled value).

Select this option if you want to collect delivery documents for the requisition schedule of values, since delivery values often cause the sum of the This Period column (column E) and the Previous Applications column (column D) to exceed the value in the Scheduled Value column (column C).

Leave Them in the Same Column in the New Application

Select to retain costs for materials stored in the Materials Presently Stored, Not in D or E column (column F) in the Schedule of Values when you generate a new application.

Move Them to Previous Applications (column D) in the New Application

Select if you want to move cost data for materials stored to Previous Applications (Column D) in the Schedule of Values when generating a new application.

Start with this Line Item

Specify the first line item number to use when the schedule of values is created for the requisition by entering a number in this field.

Increment Line Items By

Specify the increment number to use when the schedule of values is created for the requisition by entering a number in this field. You can also change item numbers directly in the schedule of values to resequence line items, and you can reformat line items using different line item types such as headers, subtotals, and blank lines.

Retainage Calculation:

Calculate the Retainage Using Summary Percentages

Choose this option to enter summary percentages and have Contract Management calculate retainage. Choose one or both of the following options:

% of Completed Work Until Work is Complete

Select this option if you prefer to enter a percentage for completed work in the Requisition Summary section for the requisition. If you prefer to use retainage amounts or percentages for each line item in column I in the Schedule of Values section for the requisition, choose the Enter Retainage on Line Items option.

You can specify a ceiling on retainage by entering a contract percent complete value in the Until field. You must use this option and select the Calculate the % of Completed Work option to apply the calculation.

For example, to stop calculating retainage on or after the date the contract is 50% complete, select the % of Completed Work option and enter 50 in the Complete field. Note that you will not be able to edit the Total Retainage field in the Summary section of the Requisition document window if you apply this ceiling calculation.

% of Stored Materials

Select if you prefer to enter a percentage for stored materials in the Summary section for the requisition. If you prefer to use retainage amounts or percentages for each line item in column I in the Schedule of Values section, choose the Enter Retainage on Line Items option and set the retainage rate.

Enter Retainage on Line Items

Select if you prefer to use retainage amounts or percentages for each line item in column I in the Schedule of Values tab.

To use the same percentage to calculate retainage for most line items, type the percentage in the On New Line Items, Set the Retainage Rate (Column I) to field. The module automatically enters this percentage in the Retain % column (column I) in the Schedule of Values section for the requisition.

For example, if you enter 10 percent, the module enters 10 percent in column I for every line item. You can then edit the items that use a different percentage.

On New Line Items, Set the Retainage (Column I) to:

If you want to use the same percentage to calculate retainage for most line items, enter the percentage in this field.

Contract Management automatically enters this percentage in column I on the Schedule of Values section for the requisition. For example, if you enter 10 percent, Contract Management enters 10 percent in column I for every line item. You can then edit the few items that use a different percentage.

Enter Total Retainage in the Requisition Summary

Select to enter total retainage in the requisition summary.

Tax Calculation:

Enter the Tax to Date Amount in the Requisition Summary

Select to manually enter the total tax dollar amount on the Requisition Summary tab.

Enter the Tax Rate on Line Items (Column J) and Let Contract Management Calculate the Tax to Date Amount

Choose this option to manually enter the tax percentage for each line item in column J in the Schedule of Values section for the requisition.

Contract Management calculates the total tax dollar amount from the percentages you enter.

How to access this dialog box:

1. Expand Contract Information in the Project View and click Contracts (Budgeted, Committed, Funding) or Purchase Orders.
2. From the log window, either open an existing contract or click Add Document .
3. From the document window, choose Cost Options from the Select an action drop-down list.

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