Timephase Financial Data in Reports & Dashboards
Having captured your timephased Financial Plans and Actuals on projects and portfolios, you can report across Projects or your entire organization. At this stage, you are able to aggregate Time Phased Financial Resources data and present it in tabular reports, or highlights and charts.
Note: This capability is available to organizations who have already enabled "Financial Planning" in System Settings > Budget Management.
This is a highly valuable capability which will enable you to answer key business questions, such as:
1) What do Projected Labor Revenues look like for the coming 12 months?
2) Portfolio Quarterly planned CAPEX spend for the next 3 years
3) Monthly Revenue Recognition from Labor timesheets
4) What is the breakdown of planned costs per category for my Project?
5) How much are we going to spend on Travel Costs over the next 6 months?
How it works
In Reports, when running on Project, you will now see a new special relation Financial Resources
Once you have selected Financial Resources, fields of the Labor and Non-Labor Resources will be available to you (including Expense Type, Category), as well as those of the Time Phases (months).
"Aggregated" Flag on timephases
Financial Resources can be directly set on Projects, as well as rolling up from Milestones and Tasks.
The Aggregated Labor and Non-Labor Resources are aggregated at Project level. These are the totals you see in Financial Planning view's Summary mode. Use the Aggregated flag in your filters to prevent double counting of costs - this is especially important when capturing costs (or reporting labor timesheets) at Project level.
As part of this release, to enable simple categorization of Labor alongside other project spend categories, Users now have the Category of "Labor" added by default.
Starting with this release, Non-Labor Resources now must have unique names.
Financial Resources data is a data set that combines both resource (labor and non-labor) information and the associated timephase information. It is not editable via reports.
Whether you're running Billable Projects for Customers, or internal CapEx projects every organization has different requirements for reporting formats and categorizations. Access to Financial Timephase data in reports gives you a wide spectrum of visualization options, including charting, grouping, conditional formatting and ad-hoc formula fields.
Adding Grouping for the table part of the report
Using Cost Category Grouping by Project, month on month, with Conditional Formatting to identify overspend