Activity Create/ Update Forecast Lines
Explanation
Use this activity to update percentage of completion and accumulated simulated
cost for each period created based on revenue recognition forecast profile and
forecast accumulated revenue and costs to recognize for each project. It is
possible to add new forecast lines and remove unnecessary forecast lines.
Prerequisites
Revenue recognition forecast need to be created.
System Effects
- When you update POC and Simulated Cost Accumulated for projects having
Revenue Recognition Method POC Income First or POC Revenue First,
all revenue and costs recognition amounts in the Accumulated Amounts
and Period Amounts tabs will be calculated based on the revenue
recognition method connected to project upon saving. For periods not having
POC and simulated cost, previous period values will be copied.
- If Accumulated recognized revenue is modified for projects having Revenue
Recognition Method POC Revenue First, accumulated recognized cost
will be recalculated accordingly.
- If you modify accumulated amounts of the project, difference between
original amount and modified amount will be applied to subsequent periods.
- The status of the forecast line/(s) will be Under Review as soon
as the forecast line is created.
- If revenue and cost cannot be recognized due to missing/ wrong information,
an error will be updated in the Update Error field.
- The 0% Margin Rule Applied from field will be updated if 0% margin
rule applied when forecasting amounts. This field is not applicable for projects
having Revenue Recognition Method Event Based.
- The Gate POC Applied field will be updated if
Apply Gate POC parameter is enabled for the project
when forecasting event POC. If the forecasted event
POC is greater than defined 0% Margin for POC
Until percentage, Gate POC Applied field will
be marked as YES. This field is only applicable for
projects having Revenue Recognition Method Event Based.
- Graphs will be updated when amounts are calculated for forecast lines.