Financial Planning - Actual Costs - Capex/Opex & Labor/Non-Labor

What's New?

Yet another enhancement to Financial Planning.  We have added 4 new standard fields to Work Items to give you better insight into the total actual spending in your project’s Actual Cost. 

Actual Cost rollup fields are now included which aggregate:

  1. Actual Cost Labor - from timesheets
  2. Actual Cost Non-Labor - from Non Labor Resources monthly amounts 
  3. Actual Cost CAPEX - from Capex Non-Labor and timesheets on Work Items with Expense Type "Capex"
  4. Actual Cost OPEX - from Opex Non-Labor and timesheets on Work Items with Expense Type "Opex"

Note: If you manually set Actual Costs of the WorkItem, the Labor and non-Labor amounts will not be displayed in these fields.  Capex and Opex will still calculate, based on the Expense Type of the WorkItem.

Benefits

Your view can now include the Actual and Budgeted costs per task (rolling up to Milestones and Project) to allow for more accurate reporting. 

Organizations that have been using custom rollup fields to calculate this data can start planning migration which will free up precious custom fields and display updates faster.

How it works

The figure below reflects an organized view of your project financials.  You can compare the aggregate Actual vs. Budgeted costs to gain in-depth understanding of the financial aspects of your project. 

FP_Actual_costs.PNG

 

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