Earned Value represents the actual value of billed time and expenses on projects. In other words, it is the 'Used' contract amount. CORE takes into account the following time and expense attributes when computing earned value:
Time Entries:
- Charge Amount
- Write Up/Down
- Billable Status
- Client Hours
Expense Entries:
- Charge amount
- Write Up/Down (Markup)
- Billable Status
- Purchase Tax
Earned value calculations exclude:
- Extra time and expenses
- Item taxes 1/2/3
- Project-level tax
- Entries that are marked billed and not actually billed
- Entries on draft invoices
- Retainers
- Discounts