There are 3 available view options for forecasting your project financials:
- View by Payment Claim Cost Centres
- View by Project Cost Centres - Actual Profit
- View by Project Cost Centres - Contracted Profit
In this article, we will discuss on how to get around the first option – the Payment Claim Cost Centres view.
1. Access the Forecast Report. You may do either of the following:
- On the Project Page, click View on the Forecast Tool tile. Inside the projects, the Forecast Report automatically displays.
- Or search Forecast Report on the Search Bar.
2. Outside the project, you will need to select a project first from the Project Name dropdown and hit View Record to view the Forecast Report.
3. Click the Project Financials tab.
4. Make sure that the selected view is on Payment Claim Cost Centres. This is the default value.
4. Project Cost Centres allocated to Payment Claim Cost Centres in the Revenue tab reflect under the Payment Claim Cost Centre rows. Click here to learn how to allocate Costs against Revenue.
5. Total Costs are displayed on the Payment Claim Cost Centre rows.
6. Click on the underlined amounts to view their breakdown.
7. Costs for unallocated cost centres fall under the Unallocated Cost Centre row.
8. Clicking the Unallocated Cost Centre link will redirect you to the Revenue tab where you can allocate them properly.
9. Costs submitted without Cost Centres fall under the column with a blank Cost Centre Name.
10. The Current Revenue is the total of your Payment Claim Revenues.
11. Forecasted Profit is calculated by subtracting your Costs (Expense, Labour, Overhead) from your Revenue. Click on the amounts to see the calculation.
12. To view your profit in percentage of your revenue, click on the arrows and select Margin.
13. To change views, select any of the two PROJECT COST CENTRES VIEWS on the dropdown menu to view and estimate your financials by Project Cost Centres.
- View by Actual Profit:
- View by Contracted Profit: