Open Forum

Project Controller Budget Versions

  • 1.  Project Controller Budget Versions

    Posted Feb 22, 2019 10:16 AM
    I know that in the General Ledger, we can have multiple ledgers to track Actual/Budget/Forecast results.  I'm wondering if there is any option in the Project Controller for multiple ledgers?  We loaded data to the "Original Budget" during our annual budget process - but we also plan on completing a mid-year forecast.  Do we have to override the "Original Budget"?  Or is there another place to load a Forecast?

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    Andrea Williams
    Collegis Education
    Oak Brook IL
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  • 2.  RE: Project Controller Budget Versions

    SILVER CONTRIBUTOR
    Posted Feb 22, 2019 10:24 AM
    Hi Andrea,

    It depends on if you have the Project Budgeting installed or not as to what you can do.

    Project Budgeting module allows you to make revisions and it tracks those revisions and have approvals.

    Budget Maintenance in Project Controller allows you to enter an original budget and an EAC.  You can change the EAC but it doesn't track the revisions.

    Hope that helps.  Let me know if you have any questions.

    Thanks,
    Michael


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    Michael O'Neill
    Controller
    Eastex Telephone Cooperative
    Henderson TX
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  • 3.  RE: Project Controller Budget Versions

    SILVER CONTRIBUTOR
    Posted Feb 22, 2019 10:28 AM
    Perhaps you could use EAC (estimate at completion) for that. Maintain it using the Budget Maintenance (PA.BSM.00) screen.

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    Jonathan Van Houtte
    Architect
    XLstatements, LLC
    Clifton Park NY
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  • 4.  RE: Project Controller Budget Versions

    Posted Feb 22, 2019 10:52 AM
    Thanks!  I was thinking I could use the EAC.  I also see FAC...can you load to that as well?  And if so - where do you see it?  What screen?

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    Andrea Williams
    Collegis Education
    Oak Brook IL
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  • 5.  RE: Project Controller Budget Versions

    SILVER CONTRIBUTOR
    Posted Feb 22, 2019 11:13 AM
    I believe you must have the Analyzer or Budget Maintenance module to use FAC. If you own the Analyzer module (it's included with Business Ready Licensing), it has a FAC Maintenance screen. Be aware, though, that, unlike EAC, FAC is not exposed in many screens and reports.

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    Jonathan Van Houtte
    Architect
    XLstatements, LLC
    Clifton Park NY
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  • 6.  RE: Project Controller Budget Versions

    SILVER CONTRIBUTOR
    Posted Feb 25, 2019 09:46 AM
    ​The advantage of the Project Budgeting module is that it can give you can ability to forecast by month.   For our total budgets, we use Original and  EAC because our methodology calls for retaining the original budget amount, and then recording any original amount of the budget in the EAC buckets using direct budgeting.

    We use budget by revision to capture the annual "forecast" budget for the current fiscal year in the FAC bucket.    It's sort of a pain because during the time period when we are loading the forecasts, we have to reset each project to use "budget by revision".    When we're done with each budget cycle (2-3 forecasts/year), then we have to set the active projects back to "direct budgeting".

    Hope this helps.

    Best regards,

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    Gail Jones-Nemeth
    Financial Systems Analyst
    Creative Associates Int'l
    Washington DC
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