Calculate Interim COGS and Revenues by Project (tipcs3290m000)

Use this session to calculate interim cost of goods sold (COGS) and revenues for PCS projects. Interim COGS and revenues are useful to gain an insight into the interim results of a PCS project, even before any end item is shipped

Interim COGS and revenues are calculated on the basis of the Percentage of Completion (POC) of the project. The setting of the Percentage of Completion Calculation Method field in the Project Details (tipcs2130m000) session determines how the POC is calculated: Cost to date, Hours progress, or Manually entered.

The calculated interim COGS and revenues can be viewed and maintained in the Interim COGS and Revenues by Project (tipcs3190m000) session. If the Post Interim COGS and Revenues by Cost Component check box is selected in the Project Details (tipcs2130m000) details session, you can also view the COGS by cost component in the COGS by Cost Component (tipcs3191m000) session.

For more information about how the interim COGS and revenues are calculated, refer to Procedure for Interim Revenue Recognition in Project Control.

Related topics

 

Project
A collection of manufacturing and purchasing actions that are performed especially for a particular customer order. A project is initiated to plan and coordinate the production of these items.

For a standard-to-order production, the project is only used to link the item with the customer order. Otherwise, a project can include:

  • Customized item data (BOMs and routings)
  • Project planning (activity planning)
Project Status
The indication of the project's progress.
  • Active
    This status indicates the project's execution stage. You can release planned orders, so that the required purchase and production activities can be actually started and completed.
  • Finished
    As far as manufacturing is concerned, the project is finished. Also all purchase and production activities have been completed or closed, and all sales orders have been delivered for the project.
Project Employee
The employee that is working on the PCS project.
Calculation Office
A work center of the type Costing that is used to determine the enterprise unit for a project, or production order and also has an administrative function.

Related topics

Calculation Group
A code representing a group of projects the user uses to compare financial data.

You can assign a calculation group to:

  • A budget
  • A main project (as long as the calculation group is not assigned to another project or single project)
  • A single project (as long as the calculation group is not assigned to another main project or single project)
Search Key
An alternative form of a description used for convenience during searching. Typically, it is an abbreviation, an acronym, or a mnemonic alternative to a full description.
Percentage of Completion Calculation Method
The Percentage of Completion (POC) is the percentage of the work on the project that is finished. The POC method determines how the percentage is calculated.

Allowed values

Percentage of Completion Method

Perform estimated cost calculation
If this check box is selected, the estimated cost for the PCS project is calculated. The project's standard cost is based on the standard costs of items linked to the project, with the project quantity taken into account, the estimated surcharges, and the estimated standard cost of the activities. Estimated costs for the PCS project that were already calculated, are overwritten.

If this check box is cleared, the estimated project costs are not calculated but they are taken from the Standard Cost by Project (tipcs3560m000) session.

Note

During calculation of the interim COGS and revenue, do not run the Standard Cost by Project (tipcs3560m000) session. The two processes might interfere, and corrupt the data.

Reference Date
The date that is considered as the end date of the period for which you calculate the interim COGS and revenue. You can also use backdating.

 

Calculate
Click to calculate the interim COGS and revenue.