With new ASC 606 requirements, we need the ability to identify the Performance Obligation(s) under a Contract for purposes of properly applying revenue recognition rules. The suggestion is to add a Performance Obligation field within the Contract Master, separate from Contract Items, that could be used for reporting. Various reports would be affected, including all WIP reports, Over/Under Billing reports, etc.
Guest
| Company | EMCOR |
| Job Title / Role | V.P. & Controller, EMCOR Construction Services |
| I need it... | 3 months |
Dear Viewpoint Suggestion Box contributor;
We at Viewpoint sincerely thank you for your contribution to Suggestion Box on how we can improve Viewpoint products. While we can’t do everything at once, we rely upon your feedback to help guide the prioritization of our product improvements, and Suggestion Box is a critical tool for us to understand and prioritize our customers’ needs.
Viewpoint reviews Suggestion Box regularly for all of our products and updates statuses, adds comments, and performs various house-keeping (including deleting) as needed to ensure that Suggestion Box is maintained as a productive environment for product enhancements requests.
To clarify, do you have one or more owner contracts rolling up to a single performance obligation (PO) or a single contract where the items may represent multiple POs?
Example #1 - Contract 100 and 200 (and all Items on both contracts) assigned to PO #1 (i.e. PO assigned to Contract Master, same PO may be used across Contracts)
Example #2 - Contract 100, Items 1,5,6 assigned to PO #1 and Items 2,3,4,7 assigned to PO #2 (i.e. PO assigned at Contract Item but not across Contracts)
Example #2 has been the common request. Depending on level of interest, our current thinking is to add an optional PO field to JC Contract Item and provide PO filtering on all standard Vista WIP reports