By using this tab, you can enter view the revenue and cost estimates for the project. Once you save the entered estimates, a new version of estimates is created. At any time, you can edit the current version of estimates, or create a new version of estimates. Also, you can revise and edit one of previous versions of the estimates. The version with the latest date will be actually used for the project.
The Estimates tab comprises the Revenue and Costs tabs.
The Revenue tab
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- A single estimate amount for the total planned revenue.
- Multiple estimates for revenue with the selected level of details defined by analytics elements: Items, Income Items, Business Activities, and Departments. You can select any of these analytical elements to meet your requirements to analytics and reporting.
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- By Income Item: To be able to view and analyze project revenue estimates and actual revenue by income item.
- By Item: To be able to analyze and view project revenues by item.
- By Business Activity: To be able to review project revenues by business activity.
- By Department: To be able to view project revenues by department.
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| Note. An amount of any estimate must be specified in the accounting currency with the VAT amount excluded. |
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The Costs tab
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- Type the planned cost amount for each expense item relevant for the project; no analytics element is selected.
- Specify the cost estimates for multiple combinations of analytics elements: Items, Income Items, Business Activities, and Departments.
Estimates for the project are created by using the Project Costing > Project Costing Documents > Project Estimates form.
If you need to edit the current budget (estimates) of the project, click the Edit Current Estimates button.
If you need to create a new version of the project budget (estimates), click the Edit New Estimates button.
The "Projects (create)" form. The Estimates tab (the Independent Calculations of Costs and Revenues method)
The Estimates tab
If you need extended analytics comprises some nested tabs.
If the Independent Calculation of Costs and Revenues method was selected for the project cost estimates, select from the following available options:
- By Cost Elements: To be able to view project costs detailed to cost elements which you can select from the Employees, Fixed Assets, and Items lists.
- By Company: To be able to view project costs by supplier company.
- By Business Activity: To be able to view project costs by business activity.
- By Department: To be able to view project costs by department.
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| Note. An amount of any estimate must be specified in the accounting currency with the VAT amount excluded. |
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budget, there are the Revenues and Costs tabs.
If the Calculation of Revenues based on Costs method was selected for the project budget, there are the Revenue and Costs and Overhead tabs.
For both methods, if the project estimates were created detailed down to project planning periods, there is one more tab - Estimates by Period.
The Estimate totals and other information
The following fields appear at the bottom of this tab:
- Revenue: Shows the total amount of all the listed revenue estimates for the project.
- Cost: Shows the total amount of all the listed cost estimates for the project.
- Overhead: Appears for the estimates made with the Calculation of Revenues Based on Costs method
- Profit: Shows the difference between the Revenue and Cost amounts.
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Working with the Estimate Versions
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The toolbar buttons
At any time, you can edit the current version of estimates, or create a new version of estimates.
- Edit Current Estimates: Click it if you want to edit the current estimates saved with for the project.
- Create New Estimates: Click it to create a new version of estimates.
- Cancel: (Appears after you clicked any of the above buttons and began creating a new version or editing an existing one.) Cancels any changes to the currently open version of estimates.
Also, you can use the Project Estimate Versions link (above the form toolbar) to select for editing any version view the history of the estimates for the project . If you want to use one of the previous versions as the current version, you need to change its date to a later date, because the version with the latest date is considered the current version and is used in calculations.and the Project Statuses link to view the history of project statuses.
See also
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