Using a Formula for Forecasted Costs

If you use a formula to forecast costs, you can base it on one of several columns in the budget system. Then you can multiply or divide the column by a percentage to calculate the forecasted cost.

Example:

The original budget for the cast-in-place concrete budget code is $1,000,000. To date, the subcontractor has only billed you for $300,000. but you know that he has only completed 20% of the work required. You can forecast the cost of completing the concrete work by dividing the Cost to Date of $300,000 by 20%. The forecasted cost for all the work in the budget code is $1,500,000.

To use a formula to calculate forecasted cost

  1. In the Budget form, click the Forecasting tab.
  2. From the Select Financial Column list, select the column in the budget system that you want to use in the forecasted cost calculation.

    3. The amount is displayed in the selected column in the Current Value box.

  3. In the Percent (%) box, type the percentage by which you want to multiply or divide the selected column.
  4. To multiply the Calculation Amount by the percentage to determine the forecasted cost, select Multiply.

    5. —Or—

    If you want to divide the Calculation Amount by the percentage to determine the forecasted cost, select Divide.

  5. Click Recalc.
  6. To save the changes and keep the form open, click > Save.

    7. —Or—

    To save the changes and close the form, click > Save and Exit.

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