Note the user requires prior knowledge of the Job Costing module, and functionality surrounding the setting up of a job. Should you require assistance, please contact your training representative.
This addresses the functionality in the Forecasting module to facilitate the ‘Total Cost to Complete’ scenario, as used predominately by Commercial Builders, resulting in the Job Performance Analysis report.
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Note the user requires prior knowledge of the Job Costing module, and functionality surrounding the setting up of a job. Should you require assistance, please contact your training representative. |
1. Open the Job Costing module
2. Create a Job
3. Create a Job Budget (original)
4. Save the job, and exit the Job Costing module.
5. Open the Forecasting Module
6. Find and highlight the Job code for the job created in step 2
7. Press New
8. On the Forecast window –
9. In field Forecast, type in an appropriate name
10. Tick Current check box
11. Set Last Actual to expected end of job
12. Set Last Forecast to any period after step c
13. Click Refresh
14. Press BAL. All and select Yes to the prompt
16. Once the cost centre has been found, double click to bring up the Maintaining Forecast window
17. In the Forecast section of the window, note the date of the forecast, change remarks and value.
18. The Date should be set near expected end of project
19. Change Remarks can be clicked into and any notes made (i.e. April07 Forecast)
20. Value should be the expected Total Cost to complete value.
21. Repeat from step 10 until all cost centres desired to be forecasted has been complete.
22. Save the forecast and exit the Forecasting module.
23. On the next update of the forecast, you can now use proper Last Actual and Last Forecast periods. The setting of step 8 is to ensure that the forecasted total cost to complete value does not expire throughout the life of the project.
24. Following is an explanation of the columns in the report.
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Column |
Description |
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Original Budget |
As the name suggests |
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Variations |
Approved or Unapproved variations |
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Total Budget |
The sum of the Original Budget + Variations |
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Budget Committed (Order/Contract) |
Purchase Orders and Contracts Raised Value for Job (inclusive figure from the Costs to Date – Invoiced with Commitments) |
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Budget Committed (Other Budget Used) |
Vouchers, disbursements, timesheets and unlinked invoices entered against the job (inclusive of the Costs to Date – Other Budget Used) |
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Budget Committed (Total Committed) |
The sum of the two former Budget Committed columns – Order/Contract and Other Budget Used. |
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Cost to Date (Invoiced With Commitments) |
Invoices that have been entered against the job that has links to a purchase order or contract (Budget Committed – Order/Contract) |
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Cost to Date (Other Budget Used) |
Disbursements, timesheets and unlinked invoices entered against the job |
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Costs to Date (Total Costs) |
The sum of the previous Costs to Date (Invoiced with Commitments and Other Budget Used) |
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Costs to Complete |
Forecasted value less either the Budget Committed (Total Commitments) total or Total Costs to Date as selected on the report options window. |
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Future Forecast |
Forecasted value for the cost centre as defined in the forecasting module as at expected end of project - total cost to complete (refer to the FAQ for Total Cost to Complete in Forecasting. |
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Overrun |
Difference between Total Budget and Future Forecast where the forecast is more than the total budget |
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Underrun |
Difference between Total Budget and Future Forecast where total budget is more than the future forecast. |