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I have figured out how to forecast at the cost type level. I have set up my project % complete method to enter method at the cost type level. I worked around the quantity issue by creating a new cost type called Quantity, and I only enter in quantity in this cost type. I set up the Quantity cost type Percent Complete Method as "Units - Manually Entered Units Complete. For each other cost type, I use the Percent Complete Method Cost % - Calculated until manual entry of any %.
You'd think that if I select a Percent Complete Method that specifically says "Calculate until MANUAL entry of any %" that the system would allow for a manual entry of % complete for that particular cost type within that cost code. But it doesn't. The system overrides the % complete to 100% after I hit the "Save WIP Entry" button. What gives?
The system has two columns that I find rather strange. One is called Projected Cost and the other is called Cost at Completion. The system allows the Projected Cost Column to be manually updated, but it does not allow the Cost at Completion column to be manually updated.
Where the error is encountered, is that the system does the WIP calculation based on Cost at Completion column and not on the Projected Cost Column. I need to have control over the number that I use that has an impact our financial statements. Until then, I have to calculate WIP outside of the system, which was not my intentions when I chose PCMX as a software. I was under the impression that a construction accounting software would be able to track Cost at completion at this level of detail, but it cant, which is very frustrating, among other things.
Also
I have always used the terms "Projected Cost" and "Cost at Completion" interchangeably. You'd think that one would mean the other, but this system has two separate meanings for the two names and they are very different. Not to mention there is also a term within the system called "Forecasted Cost", I still have not figured out where this term is used in the system. I know that in my project settings, I told the system what I expect Forecasted Cost to be, but besides that, the system has not used this number in any relevance to me.
Curtis Van Ruskenveld
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Hi Curtis - I'd be interested in discussing this with you. We've had similar issues. Just sent you a connection request on linked in.