The Project Financials: Project Cost Centres - Actual Profit view shows what allocated cost centres (PCS and Project Cost Centres) incurred costs and which of these have been paid to date.
1. ACCESSING PROJECT COST CENTRES - ACTUAL PROFIT VIEW
1.1 To access the page, you may do either of the following:
1.1.1 From the Project Page, click View on the Forecast Tool tile.
1.1.2. From the navigation menu, go to Management > Reports > Forecast Report > Forecast Report or just type in 'Forecast Report' on the search bar located on the upper right corner of your portal.
1.2 Select a project from the dropdown menu and then click View Record.
Note: This field is only visible outside projects. Inside the project, the Project Name is pre-populated.
1.3 Click Project Financials tab.
1.4. Select Project Cost Centres - Actual Profit from the dropdown options.
2. PROJECT COST CENTRES
2.1 Your financials are sorted by Project Cost Centres. The cost centres that appear on the list are the Expense, Timesheet, and Overhead Cost Centres that are under the Project Cost Centres tab.
This column shows the budget allocated per each cost centre.
3.1 Go to Budget column.
Note: The Dash on the table means 0 amount.
3.2 Contracted - This column shows the combined costs of Expense + Labour + Project Overheads. Click the amount to view its breakdown.
3.3 Subcontractor Variations - This column shows the Variation Purchase Order submissions and the Subcontractor Contract Price from the Expenses tab. Click the amount to view its breakdown.
3.4 Revised Budget - This column is the sum of Contracted Budget + Subcontractor Variations. Click the amount to view its formula.
4. ACTUAL COSTS
This column shows the costs incurred per each cost centre.
4.1 Go to the Actual Costs column.
4.2 Expenses - This column shows the costs incurred based on Expense Form submissions for each cost centre.
4.2.1 Click the arrow beside the Expenses header then select Amount Paid to show how much has been paid to each allocation.
4.2.2 Page will be refreshed and the amount displayed will now show your submitted expenses that are marked as Paid and Reconciled on your Expense Report. Click on the amount to display the breakdown.
4.2.3 You can always switch your expenses view by selecting on the options.
4.3 Labour - This column shows the costs incurred based on Timesheet Form submissions for each cost centre.
4.3.1 Click the amount to display the breakdown of the labour cost.
4.4 Overheads - This column shows the costs incurred based on the Actual Amount on Project Overheads tab.
4.4.1 Click the amount to display the breakdown of the project breakdown cost.
5. UNFORESEEN COSTS AND FORECASTED FINAL COST
5.1 The Unforeseen Costs column contains editable fields. This allows you freely input costs that are not in your expense, labour, and overheads. Your costs will not be affected and changes will only affect the Forecasted Final Cost.
5.2 The Forecasted Final Cost column is the sum of the Actual Costs column (Expenses+Labour+Overheads) and the Unforeseen Costs column.
6. NET PROFIT AND NET MARGIN
6.1 Net Profit is derived from this formula: Revised Budget - Forecasted Final Cost.
6.2 Net Margin is derived from this formula: (Net Profit / Revised Budget) X 100.00%
- It will be highlighted in RED if it is detected as Loss.
- It will display N/A if the Revised Budget or Forecasted Final Cost is 0.