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Note. If you use the same method and the same cost and revenue analytics in all your projects, you can select them as your personal settings. For this, go to: Quick menu > Personal Settings. Open the Default Values tab and make your selections.
Cost analytics
You can enter cost estimates with different levels of details for different projects. You can use the following levels of details (analytics parameters):
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You can provide the cost estimates for each applicable combination of these details.
Revenue analytics
For revenue estimates, you can use the following levels of details (analytics parameters): Departments, Business Activities, Income Items, Items.
You can provide a revenue estimate for each applicable combination of these details.
You can select these analytical parameters by clicking the Settings button.
The Independent Calculation of Costs and Revenues method
Use this method if you need to set estimates for costs and revenues independently. Selection of the method brings the Revenues and Costs tabs which you can use to enter planned revenues and costs, respectively.
If the Estimates By Period option is selected for the project, you can specify how the costs and revenues are distributed within the defined project duration. For this, you can select the appropriate planning period: Week, Month, Quarter, Half Year, or Year. Then, you can split all the amounts evenly by period or only the selected amounts evenly by period. Also, you can distribute the costs and revenues manually so that the total amount is equal to the sum of period amounts.
The Calculation of Revenues Based on Costs method
Use this method if you want to calculate revenue estimates as the amounts based on planned direct costs and overhead costs. This method brings the Revenues and Costs tab and Overhead tab.
On the Revenues and Costs tab, there are two tables:
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For each revenue object (set of analytical parameters), you can specify direct costs and provide the cost estimates. Then on the Overhead tab, you can list the estimates for various overheads and allocate them to costs.
To calculate the revenue estimates based on cost estimates, you use markups.
You can enter markups in the following ways:
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For a project in any status, you can edit the estimates as needed at any time. Once you save the edited estimates, the version increases by 1. If needed, you can set the version number manually.
Previous versions of estimates are not available for use.
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Once a project is created and executed, any document related to the project can be linked to this project. For accurate tracking of actual costs, you need to correctly specify the analytical parameters.
Note. If you need to specify multiple projects in a document—link different items to different projects—you can move the Project field from the document heading (the Main tab) to the list of items or services (the Inventory and Services tabs) by using the Settings button on the form toolbar.
The actual direct costs are calculated based on the documents that were linked to the project and according to the analytical parameters selected for tracking the project costs.
However, if there are overhead or indirect costs, such as labor costs, depreciation costs, that can be distributed between multiple projects, this can be done by using the Project Costing > Project Costing Documents > Project Cost Allocations form.
To allocate the overhead and indirect costs, you can manually select the costs (documents), specify the amounts to be allocated and choose the projects to which you want to allocate these amounts.
Also, you can define the proportion in which each amount should be distributed between projects or import an Excel spreadsheet with all the allocation data. For details. refer to Project Cost Allocations.
As the project is being executed, you can monitor the project progress by using the Diagrams tab of the Project form. for details, refer to Adding a Project. The Diagrams tab.
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For more effective execution of projects, you need to be able to assess factors that affect project costs and project returns.
You can use the reports in the Project Costing module to analyze each project's actual costs and revenues, compare them to estimated costs and revenues, review the project cash inflows and outflows.
For more information, refer to Project Costing: reports.
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