Issue/Symptom/Question

How does PENTA forecast jobs to calculate WIP reporting and Revenue Recognition?

Applies To

PENTA

Project Review and Forecast Entry

Forecast Entry

Resolution/Fix/Answer

PENTA Forecast Entry is used by Project Managers and/or Project Accountants to forecast jobs (typically at month end)

PENTA provides forecast calculation rules which assist in the forecast process by calculating a Cost To or Cost At Complete based on the rules being used, values may be overridden in the forecast process

• In Forecast Entry select "Load Costcodes" 
• Mark if not defaulted the "Use forecast calculation rules" button
  
  

• Select OK
• Note: The cost codes have been populated in the top of the window (below) and the selected cost code details are available in the bottom of the window
  • Users can edit the fields in the top of the window for a selected cost code
  • All updates then push down to the lower part of the window and are used to recalculate the forecast
    
    
    
    
  • The forecast cost is used in WIP reporting and revenue recognition entries.