A sub contract can report cost to a project using a connected activity. It can report planned, planned committed, committed and used cost.
If multi-currency is used on the sub contract, the contract currency is the default currency that will be used for the item. It can be changed to any currency code valid to the sub contract currency type. If a project activity has been connected to the sub contract, a connection per currency code will be created in the project.
While the sub contract will report planned, planned committed and committed cost throughout various stages of the contract, the used cost is reported by the vouchers created. When multiple currencies are involved, all calculations to reduce the committed cost when the used cost is reported are done in the transaction currency. The remaining committed cost is then converted to base currency, using the currency conversion rate valid to the system date, and updated to the project activity.
The example below is about how the sub contract report cost to the connected project activity, when multi-currency is involved.
Default currency type: 1
Company currency: SEK
Sub contract item currency:
USD
Contract currency: SEK
The Sub Contract/Revision and Items command/Lines and Items section
| Line | Value Contract Currency | Value Company Currency | Item | Currency | Currency Type | Value | Value in Contract Currency |
| Line 1 | 24000 | 24000 | Item 1 | USD | 1 (1:8) | 1000 | 8000 |
| Item 2 | USD | 1 (1:8) | 1000 | 8000 | |||
| Item 3 | USD | 1 (1:8) | 1000 | 8000 |
The Project Monitoring/Cost tab,
After Activating the Revision:
| Cost Element | Planned Cost | EV | Planned Committed Cost | Committed Cost | Used Cost | Progress |
| S01 | 24000 |
After Entering a Call Off:
| Cost Element | Planned Cost | EV | Planned Committed Cost | Committed Cost | Used Cost | Progress |
| S01 | 24000 | 24000 |
After Releasing a Call Off:
| Cost Element | Planned Cost | EV | Planned Committed Cost | Committed Cost | Used Cost | Progress |
| S01 | 24000 | 24000 |
After Receiving an Application or Certifying the Valuation(100%):
| Cost Element | Planned Cost | EV | Planned Committed Cost | Committed Cost | Used Cost | Progress |
| S01 | 24000 | 24000 | 24000 | 100% |
| Cost Type | Event | Values Reported | Currency Type | Date to Calculate Currency Rate |
| Planned Cost | Select Report Planned Cost option | The adjusted contract item value | Item currency type
|
System date
|
| Activate revision | The adjusted contract item value, refreshed each time a revision is activated | |||
| Update planned cost | The adjusted contract item value, refreshed each time a revision is activated | |||
| Planned Committed Cost | Enter call of values | The planned call off values | Item currency type | Call off date |
| Committed Cost | Release call off | The call off values of the released call offs | Item currency type | System date |
| Receive application | Total Contract value of released call offs in transaction currency - Cumulative Certified or Cumulative Application Received value of the maximum valuation in transaction currency | |||
| Certify valuation | Total Contract value of released call offs in transaction currency - Cumulative Certified or Cumulative Application Received value of the maximum valuation in transaction currency | |||
| Amend committed cost | Amended call off values of the released call offs | |||
| Used Cost | Receive application for payment | Base currency values from the SCV vouchers are used. | - | - |
| Certify valuation | Base currency values from the SCV vouchers are used. | |||
| Actual Cost | Update GL vouchers | Base currency values from the GL vouchers are used. | - | - |
When the Project Connection Refresh operation is performed the cost is retrieved as below. Cost elements will be retrieved from the posting control setup.
| Cost Type | Reported Value | Currency Type | Date to Calculate Currency Rate |
| Planned Cost | If an active revision exists use the stored base currency value | -
|
-
|
| If there is no active revision, but the Report Planned Cost option is enabled, use the stored base currency value | |||
| Committed Cost | If no valuations exist use the released call off values | Item currency type | System date |
| If a valuation exists: Total Contract value of released call offs in transaction currency - Cumulative Certified or Cumulative Application Received value of the maximum valuation in transaction currency |
|||
| Used Cost | Base currency values from the SCV vouchers and I vouchers. | - | - |
| Actual Cost | Base currency values from the GL vouchers are used. | - | - |