Project Revenue Calculation Method

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Hi All,

 

We have a requirement to calculate the revenue amount based on the below formula.

Contract Name: Contract2

Contract Value: INR 3,00,000

Parent Task: INR 100,000(FIXED PRICE)

Child Task: Delivery, Installation and Commissioning.

Revenue Recognition		200,000.00	120 Days
		Jan	Feb	Mar	Apr
Actual Days (Time sheet Input)		31	28	31	30
Revenue Recognized		51,666.67	46,666.67	51,666.67	50,000.00

 

Task Plan Start	1-Jan-18
Task Plan End Date	1-May-18
Duration of the Task (in Days)	120.00

 

For FIXED PRICE

(Total  PO Value/365)* Actual Days in a month

(100000/365)*30

 

 

Could you please suggest what would be the valid or best revenue plan to be used to calculate the revenue amount.?

 

Thank you in advance.

 

Regards,