Forecasting in Acumatica

  • 11 September 2020
  • 13 replies
  • 181 views

Are you using Project Budget Forecasting (PM209600) or Cost Projections (PM305000)? 

  • If yes, are you getting the desired results? Do you wish you could do more? 
  • If no, why not? Do you need additional functionality for your specific workflows? 

Could you use a short training session to get you started? 


13 replies

Userlevel 2

Unless working with an architect/engineer or developer, don’t use budget forecasting very often.  Of course, in those sub verticals, it’s very important.  I do show cost projections on every construction demo.

Specific to cost projections, since this is often a weekly/monthly exercise, the following would be helpful:

  • Add Columns to include:
    • Last Projected Amount
    • Weekly/Monthly Cost to Date

BTW, it would be super to have Sales/Training videos for all functionality as it’s added.  I understand this is a “big ask” but would certainly help the Partners and the customer.

Userlevel 1

One of our clients is using Project Budget Forecasting pretty heavily actually. The primary need for this is to report on project budget to actuals on a monthly trend basis. 

For the most part, it works very well for them. The only point I would bring up is the ability to create forecasts for multiple projects at a time. If you need to create many forecasts, doing this one by one can be very time consuming.

We kicked around the idea of import scenarios, but this has also proven to be difficult as well.

The other solution is Velixo’s project budget forecast import. This is fantastic, but not all clients will subscribe to Velixo.

 

@pchappell19 and @dcote70 - Thank you for sharing your feedback. I will pass along the idea of short recordings and create backlog items for the additional columns.

 

@dcote70 - Would you be open to scheduling a call so we can learn more about your clients workflow for creating multiple project budget forecasts at the same time? 

We have a client who uses the forecasting extensively and is hindered by Acumatica’s lack of functionality.  The numbers won’t even multiply.  When you spread the budget evenly, Acumatica can’t do that correctly.  We are hoping that we can get them into the Velixo product but in the mean time back to spreadsheets and email.  

@mcoman - Thank you for your candid reply. Would you be open to scheduling a call so we can learn more about the challenges and the expected workflows? 

Please feel free to contact me.  Not today.  I am doing a Lunch and Learn.

Userlevel 1

Hi Angela,

I am open to a call on creating mutiple forecasts at a time. My email is dcote@asc-partners.com

Thanks,

Derek

Hi Angela,

I present Cost Projections often and the main comment I receive is that prospects need this information to flow into the WIP report.  I know it can currently flows into the Bonding Report but they want the WIP option as well.  Possibly a variation of the WIP based on the latest projections.

Thanks,

Kathy

 

 

Yes, definitely should flow into the WIP reports.  Have not used Cost Projections extensively yet since we just started with Acumatica, but I don’t think Cost Projections brings in the projections from the previous projection.

Oh yea, one other item that would be very useful in Cost Projections as well as Project Summary.

In the header show Current Contract Amount, Current Projection Total and Current Profit and Profit %.  Profit % formula would be Profit divided by Contract Amount.  PM working on the cost projection then can easily see where the project is going regarding profit %.

 

Thanks----

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

John,

Well stated and I agree completely. Cost projections are huge for us.

 

Brian

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