Update Financial Impact

Explanation

Use this activity to enter or update details in the Contract Change Order page, Financial – This Order tab, Financial Impact section, which summarizes the cost and revenue values per cost or revenue element.

Entering new records is allowed only when the contract change order is created for the change source Customer or Supplier, with no Project in the contract change order header, and the connected sales contract or sub contract has the Contract Change Order Change Capturing Level set to Cost or Revenue Element. In this situation, all Expected, Requested, and Agreed values are manually entered in the relevant contract change order statuses.

In all other scenarios—either when a Project is entered in the contract change order header or when the Contract Change Order Change Capturing Level of the connected sales contract or sub contract is set to Contract Items—the records in this section are automatically generated either when new records are entered manually in the Change Order Forecast Cost/Revenue tab or when Generate Cost/Revenue Summary is executed, as applicable.

It is also possible to manually add records for cost elements when:

To avoid incorrect results, sales contract and project invoice postings must be mapped to revenue elements.

In all applicable scenarios, Expected, Requested, and Agreed hours are manually entered in the relevant contract change order statuses.

For more details about what is allowed in different scenarios, refer to the provided table.

Change Source Project exists in Contract Change Order header Contract Change Order Change Capturing Level for the connected Sales/Sub Contract System Behavior of the Contract Change Order page/ Financial – This Order tab/ Financial Impact Section.
Supplier/Customer No Cost or Revenue Element
  • Adding new records is allowed.
  • All types of Expected/Requested/Agreed values are entered in relevant Contract Change Order statuses.
Supplier/Customer Yes Cost or Revenue Element
  • Records are automatically generated with Expected cost or revenue values upon entering Change Order Forecast lines.
  • Requested cost or revenue values are manually entered in relevant Contract Change Order statuses.
  • Agreed cost or revenue values are automatically updated upon modifying ETC on Change Order Forecast lines in relevant Contract Change Order statuses.
Supplier/Customer Yes/No Contract Items
  • Records are automatically generated upon executing the "Generate Cost/Revenue Summary" command.
  • Expected/Requested/Agreed hours are manually entered in relevant Contract Change Order statuses.
Project Yes n/a
  • Records are automatically generated with Expected cost or revenue value upon entering Change Order Forecast lines.
  • Requested cost or revenue values are manually entered in relevant Contract Change Order statuses.
  • Agreed cost or revenue values are automatically updated upon modifying ETC on Change Order Forecast lines in relevant Contract Change Order statuses.

Prerequisites

System Effects