Insert Calculations in the Accounting Contract and eSign it in minutes

Aug 6th, 2022
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How to Insert Calculations in the Accounting Contract

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hi and in todays microsoft word tutorial im going to quickly show you how to use formulas in word now obviously when weve used excel before we can do lots of different calculations which are really useful but sometimes we just want to do simple calculations lets say for example if you were adding up an invoice or a table or just wanting to get some details from some accountancy youve been doing so im going to show you how to add up these columns and rows and also some other sums you can do as well so as you can see ive got a total here a total here and a total down here and thats just to show you how you can have a total at the beginning of your row at the end of your row and at the bottom of your columns now lets start at the end here if i click in the cell here go up to layout and go along to formula now automatically this dialog box will appear and word has understood that you probably want to add up everything to the left of this cell so all of the numbers just move this o

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A profit and loss statement is calculated by totaling all of a businesss revenue sources and subtracting from that all the businesss expenses that are related to revenue.
In contract cost accounting, the cost of each contract is computed individually, and a different account is opened for each contract in the contractors books. To determine the gain or loss, the overall cost of the contract is split into two parts: work certified and work uncertified.
For example, construction of buildings, ships, Bridges, Roads, etc. In all the above cases, contract account is opened. A unique number is allotted to each contract and a separate account is maintained for each individual contract.
A contract ledger is kept in which a separate account is opened for each contract undertaken. It is usual to give each contract a distinguishing number. A contract account is debited with all direct and indirect expenditure incurred in relation to the contract.
Contract costing is one of the methods of job costing and it is also called terminal costing. In this, each contract is given a number and the records are maintained separately. This method is generally used by builders, construction firms, contractors etc.
Activities Contract Liability = Max {(Payment Due - Fulfilled Revenue), 0} Contract Asset = Max {(Fulfilled Revenue - Receivable), 0} Receivable = Max {Billable Amount, Invoice Due Amount} Billable Amount = Original Amount * Fulfillment Revenue/Total Allocated Revenue.
The formula for the same is: Percentage of Work Completed = Actual Costs till Date / Total Estimated Costs. Earned Revenue till Date = Percentage of Work Completed * Total Estimated Revenue. Over/Under Billed Revenue = Total Billings on Contract Earned Revenue till Date.
For costing purposes a separate Contract Account is prepared for each contract and all costs relating to a particular contract are charged to the same. As the contract is carried out at the customers place, all expenses incurred for the execution of that contract become direct costs.

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