Job Costing - JC Enter Budget – Budget Detail

As each budget line is accessed in the Budget Detail section of the JC Enter Budget screen, the full name of the category and forecasting method is displayed at the bottom of the section, via the Category Name and Forecast Based On fields.

Meth

Cost code’s forecasting method: “A” = Amounts, “P” = Productivity, “U” = Units. The cost code’s selected method is also displayed by the Forecast Based On field, located on the bottom left of the screen.

Budgeted Amount, Budgeted Quantity and Rates

You may enter any two of these fields and the third will calculate. This means that even on an amount based line, if you only know the rate and budgeted quantity the amount will be calculated for you.

If the budget method is units, then units must be entered. If the budget type is productivity, then the units and rate should be entered.

Enter the weight/measure code for the cost code.

Budgeted Revenue Amount and Rates

These amounts will automatically be set to match the initial entry values of the cost budget. If your cost Budget is not equal to the contract amount, then you may want to change the estimated revenue rates and amounts.

When creating a Job Billing contract, the system allows you to create the contract using either the cost budget or the revenue budget.

Percent Complete Method - 'P' Column

This field defaults from the control file. In most cases you will not be changing this value. The computer will automatically calculate the expected costs at the completion of the job based on the information entered in this field.

“C” to use committed costs only.
“S” to use spent to date amounts only.
“L” to use the larger of the spent or committed amount.

Projected Final

When initially creating the budget, the projected final amount will automatically be updated to the budget amount. This column will be updated if the percent complete of the job is 100 and costs are less than budgeted or if costs exceed the budget.

This field is available in the Forecasting screen.

Freeze Projected Amt − Checkbox

If you check this checkbox, the amount entered in the Projected Final field will not be updated by the system when costs are posted.

Time Phased − Checkbox (applicable if using Time Phased Budgeting)

This checkbox indicates if the specific phase category is using a time phased cost budget (detail time phasing). Since detailed time phased budgeting has been deprecated, ensure that this checkbox is unchecked.

NOTE: Since detailed time phased budgeting has been deprecated, the [Synchronize], [Synchronize All], [Generate Time Phased Budget], and [View/Edit Time Phased Budget] buttons that are dependent on this checkbox are disabled. Currently, time phased budgeting is only supported at the job level. Please see Job Costing - Enter Manual Forecast - Job Detail under Job Costing - Enter Cost Forecast (Enter Manual Forecast) for more details.

Spread Rule (applicable if using Time Phased Budgeting)

This value represents the assigned time phase spread rule applied to this item. As noted in the 'Time Phased' checkbox details, the detailed time phased budgeting has been deprecated.

Time Phased Variance (applicable if using Time Phased Budgeting)

As noted in the 'Time Phased' checkbox details, the detailed time phased budgeting has been deprecated.

This amount is the sum of the difference between the individual period amounts in the time phased budget as compared to the actual budget entered for the particular phase/category. This value will represent a dollar amount for amount budget lines, and the number of units if using the unit option for the budgeting method.

If this amount is not zero, the [Synchronize] button will be available to allow the user to redistribute the variance amount within the time phase budget details.

Active Cost Code, Active Cat

These display fields identify if the cost code or category are active, (checked) or inactive (unchecked). Although users cannot record transactions for inactive cost codes or categories, as there may be historical transactions or budget information, all cost codes and category values assigned to a job, regardless of current status, are displayed in the Budget screen.

NOTE: If the category has been added to a locked cost code, the 'Active Cat' checkbox will be disabled.

Budgeted Cost Amount Calculate Value, Budgeted Quantity Calculate Value, Budgeted Unit Rate Calculate Value

These columns will calculate the values for the selected job. Values allowed in these three fields are "Y", "N", or "NULL". If the user enters any other value, it will be automatically changed to "N". When one column is set to "Y", the other two fields will be set as "N". The column which is set to "Y" will be highlighted in yellow and text displayed in bold green color to signify that it is the calculated field.

Budgeted Amount & Projected Final Totals

Totals for the Budgeted Amount and Projected Final columns are provided at the bottom of the columns, in blue text.

Budget Summary Check

Where conceptual unit price estimates at the cost code level have been entered, the system will compare the value of the budgeted cost code amount with the total category budgets within that cost code. If there is a difference in these two numbers, the system will return a message upon exiting, indicating that a discrepancy exists and asking if the printing of a report that shows the variations is wanted.

[WBS Defaults] − Button

Click the [WBS] button to access the WBS pop-up window displaying the default WBS codes and WBS value codes that are currently assigned before a job has started (“Pending” status) for the current company. The default WBS codes can be assigned directly to each category of the job cost structure in order to accumulate costs at a higher level of detail.