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.