Percentage of completion method on projects

The Percentage of completion method (PCM) is the method supported in Monitor ERP for managing work in progress in projects at year-end closing. This means income is registered at the time services are being performed and material is consumed, which means income is accrued and costs recognized as expenses when resources are consumed.

Income is accrued based on the stage of completion, which refers to the percentage of a commission deemed to be completed the balance sheet date.