1. Equipment Rental
  2. Rental Management
  3. Flows

Reconcile project WIP
Activity Flow

This flow explains how to control the periodic recognition of project revenue and costs.

Project accountant Project accountant Start Start Estimate a revenue Estimate a revenue Procedure 1. Go to Project management and accounting > Projects > All projects. 2. Open Project type column filter. 3. Enter a filter value of "fixed" on the "Project type" field using the "is exactly" filter operator. Note: Estimate can only be produced for Fixed price or investment projects 4. In the list, click the link in the selected row. 5. On the Action Pane, click Manage. 6. Click Estimates. 7. Click New. 8. In the Estimate date field, enter or select a value. 9. In the Cost to complete method field, select an option. 10. In the Completion method field, select an option. 11. Click OK. 12. Click Calculate. 13. Click OK. 14. Click Post. 15. Click OK. Post estimate and print project WIP report Post estimate and print project WIP report Prerequisite: A validated estimate must exist. Procedure 1. Go to Project management and accounting > Projects > All projects. 2. Use the Quick Filter to find records. For example, filter on the Project ID field with a value of 'DEMF-011701'. 3. In the list, mark the selected row. 4. Click Estimates. 5. In the list, mark the selected row. 6. Click Post. 7. Select Yes in the Post with warnings field. 8. Select Yes in the Show Infolog field. 9. In the Print estimate list field, select an option. 10. Click OK. 11. Close the page. End End Estimate is correct? Estimate is correct? Edit estimate Edit estimate As the assigned reviewer, review the sub rental order. You can choose one of several options and add a comment for the submitter. Approve: The sub rental order is approved. Reject: The sub rental order is rejected. It must be adjusted or cancelled. Request change: A change is required. The order is re-assigned to the submitter. Delegate: The review is delegated to another user defined in the workflow. Go to: Common > Common > Work items > Work items assigned to me. Procedure 1. Go to Project management and accounting > Projects > All projects. 2. Use the Quick Filter to find records. For example, filter on the Project ID field with a value of 'DEMF-011701'. 3. In the list, mark the selected row. 4. On the Action Pane, click Manage. 5. Click Estimates. 6. In the list, mark the selected row. 7. Click the General tab. 8. In the Completion method field, select an option. 9. In the Manual calculation field, enter a number. 10. Click Save. 11. Click Calculate. 12. Select Yes in the Show Infolog field. 13. Select Yes in the Update cost estimate field. 14. Click OK. 15. Click Save. 16. Close the page. No Yes

Activities

Name Responsible Description

Estimate a revenue

Project accountant

Post estimate

Project accountant

Prerequisite: A validated estimate must exist.

Review sub rental order

Project accountant

As the assigned reviewer, review the sub rental order.

You can choose one of several options and add a comment for the submitter.

  • Approve: The sub rental order is approved.
  • Reject: The sub rental order is rejected. It must be adjusted or cancelled.
  • Request change: A change is required. The order is re-assigned to the submitter.
  • Delegate: The review is delegated to another user defined in the workflow.

Go to: Common > Common > Work items > Work items assigned to me.

Activities

Name Responsible Description

Estimate a revenue

Project accountant

Post estimate

Project accountant

Prerequisite: A validated estimate must exist.

Review sub rental order

Project accountant

As the assigned reviewer, review the sub rental order.

You can choose one of several options and add a comment for the submitter.

  • Approve: The sub rental order is approved.
  • Reject: The sub rental order is rejected. It must be adjusted or cancelled.
  • Request change: A change is required. The order is re-assigned to the submitter.
  • Delegate: The review is delegated to another user defined in the workflow.

Go to: Common > Common > Work items > Work items assigned to me.
Related to Notes

Reconcile project WIP

 		 

Fixed-price projects

 		 

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