Job Cost Completion Calculation

Q: We mostly use the Job Cost module to track cost.  However, when we refer to the Contracts in Progress report, the Estimated Cost to Complete and Percent Complete are not adding up correctly.  What might be causing this?

A: The Contracts in Progress report’s Estimated Cost to Complete and Percent Complete are derived from subtracting the actual cost from the estimated cost, and then adding the known cost overrun.  Actual cost that has not been estimated will make up known cost overrun.

It is imperative that users who wish to refer to the Contracts in Progress report define estimated cost and apply actual cost to the correct cost codes.  Failure to do so will result in the Estimated Cost to Complete and Percent Complete producing erroneous amounts and percentages.

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