It’s challenging to forecast the costs for a job when payroll, purchases and invoices keep changing the current costs on the job. You’ll assess your progress as of a certain day, but the costs will keep flowing in from the payables, receivables, equipment, and payroll.
The snapshot action copies the current revenue and costs for each posting type in each cost centre. The project manager can record unit quantity progress as they apply to the snapshot amounts, and get an accurate forecast as of that date.
To start a snapshot, select action T and click <Apply>
You’ll be prompted to turn snapshot logging on or off. If you aren’t currently in the process of recording unit quantity progress for your snapshot, your only option will be to turn ON snapshot logging.
Abio takes a copy of each of the cost centres current values.
While we’ve talked about taking a snapshot of the current costs, what we’re actually doing is creating an environment where we are taking a snapshot of the current costs. Invoices, purchase orders, and labour dispersion are all marked with the snapshot date.
The snapshot process will last as long as you need to measure the progress of all the cost centres. Only authorized users will be allowed to change components of the snapshot (invoices, purchase orders, labour). They will also be given the option to include new invoices and purchase orders in the current snapshot. If they choose to add new costs, the snapshot forecast will be recalculated to include those costs towards the snapshot unit quantities.
If you would like a fresh copy of the centre costs, selecting ‘refresh or turn ON snapshot logging’ will overwrite the current snapshot values.
When you finish your progress measurements you can turn off snapshot logging. The forecast for that snapshot will remain in the centre’s snapshot area and can be selected when running the Consolidated Cost reports.
Past snapshot values are available in the Centre’s Snapshot History tab.