Degree of completion shows how far a production code (prod. code) has progressed, measured as produced value against the final forecast. It is one of the key figures in a report.
How it is calculated
The produced value can consist of three things:
Posted cost
Received — invoices that have come in but have not been posted
Produced, not invoiced — work carried out on site that has not yet been invoiced
Degree of completion = produced value ÷ final forecast, expressed as a percentage.
Two ways to set it
Follow invoiced — the degree of completion automatically follows what has been posted and registered on receipt. Produced, not invoiced is not included.
Override manually — enter the degree of completion as a percentage yourself, or enter the produced amount in NOK, and the degree of completion updates. This is where Produced, not invoiced comes in: the difference between the value you enter and what has been posted and registered on receipt.
Which option suits you depends on how you report. Some follow what has been invoiced, because the figures are then based on actual vouchers. Others assess progress on site and override manually, so that work that has been carried out but not yet invoiced is included. The degree of completion can be set per prod. code, or in more detail per estimate item.
This is how it looks:
