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When you enter a forecast revision, make sure the posting date falls within the period you want the transaction to affect. The amounts in the Job Status by Period window and the Percentage of Completion (POC) will be totaled based on the posting dates. For example, when you enter a forecast revision, the default date in the Date field in the Forecast Cost Revision Entry window is the user date in the current period. If you want the revision to affect the previous period, you would have to change the date to reflect that previous period. |
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You can revise forecasted costs in units, or in dollars. With units, you can manage labor on a job based on hours.
- Choose Inquiry > Job Cost > Job Status.
- Choose a job and zoom on a forecasted cost element.
- The system date appears in the Date field. You can change this date.
- Enter the Cost Code that applies to the revision.
- Enter both the Forecasted Units and Forecasted Amount/Unit - OR - a flat dollar revision Amount. The revision amount will be added to the current cost element forecast. The total amount of forecasted revisions is then added to the cost element's estimated cost to calculate the revised forecast amount.
- Enter identifying text that describes the reason for the forecast revision. This information appears in the scrolling window. You can attach a detailed note using the notepad button.
- Post the revision. When you post, the revision transaction displays in the scrolling window.
- To print the forecast revision list, choose File > Print.
Adjusting forecasts
Depending on whether you are using labor hours or costs to calculate percent complete, you can adjust forecasted labor hours or costs to equal actual posted labor hours or costs for each cost code. This procedure does not consider estimated costs.
Unless the Auto adjust forecasted only when posted is greater than forecasted check box checkbox is marked on the Job Cost Setup Options window, the forecast is revised whenever the actual units do not equal the forecast units.
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