Are you using Project Budget Forecasting (PM209600) or Cost Projections (PM305000)?
Could you use a short training session to get you started?
Please feel free to contact me. Not today. I am doing a Lunch and Learn.
Angela,
As a client that has just gone live - i agree with others that stated that the values from the latest projections need to flow into the WIP statement. This is our normal course of business so until this gets remedied we will have to workout out of manually updated spreadsheets.
Another aspect we would like to see improved is on the Cost Budget Tab of the Project, we would like to see totals of the different columns. As it is today you cannot quickly or accurately determine if the projected cost at completion is > or < the original budget.
Also we will reforecast a project several times before it is finally closed and our review always begins with incrementing the new forecast based on the last forecast. As such the history feature has a lot of value to us, but the overall functionality is limited, because to look at the history you have to go line by line per cost task- which limits the ability to see the project globally. It would be much more helpful to see all of tasks and prior forecast with a total and then provide a workspace to create a new forecast that is an iteration of the prior forecast.
Thanks for bringing up this topic- its an important one for us that we would like to use more.
John Wiebke
Envelop Group
Totals in the project balances screen/form is a must. Why is it not there? Thanks for your help. ToonSix@intercs.com
Our project managers review their cost vs actual amounts on a monthly basis. When they forecast the cost remaining per line item, this has direct effect on the estimated gross profit remaining (if est. cost to complete goes down, GP goes up, and vice versa). However, the forecast feature in Acumatica doesn’t have an effect on Gross Profit. And, neither of these fields are updated on the WIP report.
Thus, we are still calculating the monthly over/under billing in excel.
Has there been any updates to Acumatica since this post or are there any plans in roadmap with regards to this, any entered projections impacting gross profit (or a “project gross profit”). I also believe this to be of very high value to any large business >$40mil t/o
Hi Angela,
I am open to a call on creating mutiple forecasts at a time. My email is dcote@asc-partners.com
Thanks,
Derek
+2
Hi
I just ran a test with my 2023 R1 Beta version and the calculations of percent complete/associated Cost or Quantity to complete work as you anticipate. Setting Projected Quantity or Cost to Complete to zero will set the Projected Completed % to 100, and vice versa with the Projected Completed % setting to 100 making the other values zero.
I also used the Copy Revision (with Refresh Budget checked) as well as the ‘Refresh and Recalculate’ option bar button, both will keep the prior projected entries.
The Revision Date is used to correspond into a Financial period, I’ll need to review your request for specific date in time, not financial period related.
Thanks.
John,
Well stated and I agree completely. Cost projections are huge for us.
Brian
Great insights. If the detailed “Project Budget Forecast” tool doesn’t allow you to flow projected cost-to-complete into the WIP schedule … what field/inputs are you using to drive the forecasted total cost-to-complete in the Acumatica WIP Report?
For context: I’m with a specialty subcontractor in the glass & glazing space, and we’re mid-flight in the implementation process.
Thanks in advance.
We have not found the “Project Budget Forecast” tool useful for us. We are planning on using “Cost Projections”. I am not sure if the “Project Budget Forecast” tool feeds into the WIP or not, but would be interested in finding out.
The other critical consideration is the potential for inconsistencies or conflicts when/if inputting cost projection information into two locations “Cost Projections” and “Project Budget Forecast”
Thank!
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