UPDATE PRIOR YEAR HISTORY

Use this screen to update the prior year project costs (hours, units, billing value, Cobra costs) for the fiscal year specified. This process updates the Manage Prior Year Cost and Revenue screen, which contains data for direct costs, indirect costs, and revenue incurred prior to the current fiscal year. The data on the Manage Prior Year Cost and Revenue screen is used to calculate cumulative columns on projects reports and inception-to-date revenue. Use this process after you have completed the closing process for the fiscal year before you compute revenue for the new fiscal year. Projects reports and any inception-to-date revenue calculations are incorrect if you do not run this process at the proper time.

The program copies data from the PROJ_SUM and PROJ_BURD_SUM  tables into the PSR_PY_SUM table using rates (actual or target) that are selected in this screen. For prior year units, Costpoint copies the UNITS_USAGE_HS table into the PY_UNITS_PRICING table and, for labor, copies the LAB_HS table into the PY_PROJ_LAB_HS table. The data in the PROJ_GOAL_DETL table is copied into the PY_GOAL table during this process.

Run this screen as part of your fiscal year close process. You can optionally run it again after audit and other post-year-end adjustments are made to finalize prior year information. You should finalize project costs and revenue before you execute this screen. The utility deletes existing rows from the prior year tables and then inserts new data, based on the criteria you have selected. Therefore, you can execute it as many times as necessary.

Before executing this utility, run the Assign Account Function Codes toolkit. This ensures that the account function codes in the PROJ_SUM table are consistent with the current Project Account group setup. If you added an account to the project account group or modified the function code of an account in the project account group, this toolkit adjusts the PROJ_SUM table. Failure to execute this toolkit before executing this utility could result in a SQL error. You receive the SQL error if you try to run the Update Prior Year History process and the application finds inconsistencies in the account function codes. Depending on the size of your database, the Assign Account Function Codes toolkit may take considerable time to complete.

If you are computing revenue for a new fiscal year, make sure that you executed the Update Prior Year History process to update the prior year's data before you compute revenue for the new year. Otherwise, your revenue calculations for the new fiscal year could be misstated. Among its many functions, the Update Prior Year History program combines the current year project tables (PROJ_SUM and PROJ_BURD_SUM) with the prior year project tables (PSR_PY_SUM and PSR_PY_BURD_SUM). The prior year project tables are the source for prior year cost and revenue amounts for the Compute Revenue process. If you have not updated the prior year tables, revenue calculations for the new fiscal year could be incorrect.

Execute this screen only for fiscal years that have been calculated in Costpoint. If you have updated the prior year tables manually using the Manage Prior Year Cost and Revenue screen or the Manage Prior Year Billable Value screen, or through the use of scripts for a given fiscal year, you should not run the Update Prior Year History screen for that same year. Doing so could cause your prior year project tables to be overwritten with zeroes. Normally, this situation occurs only in your first fiscal year in Costpoint.

Location

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options are also included in the saved parameter ID if there are any. You can change any of the associated selection defaults as necessary.

Parameter ID

Enter, or click to select, a parameter ID of up to 15 alphanumeric characters. Choose characters for your parameter ID that help identify the type of selections you made in the screen, such as PERIOD or QUARTERLY.

When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.

You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display in the screen, you can override the defaults.

Description

Enter, or click to select, a parameter description of up to 30 alphanumeric characters.

Selection Ranges

Fiscal Year

Option

This field always displays One.

Start

Enter, or click to select, the fiscal year for which you want to update prior year history. This is the fiscal year that you are closing. All the data for this fiscal year in the PROJ_SUM and CB_SUM tables is summarized and transferred to the PSR_PY_SUM and PY_CB_SUM tables. Any data for this fiscal year in the PSR_PY_SUM and PY_CB_SUM tables is overwritten.

Projects

Use the fields in this group box to select the range of projects that you want to update. Run this process for all projects at least once during the fiscal year closing process.

Option

Enter, or click the drop-down list to select, the range of projects you want to update. Valid options are:

The default for this field is All.

Start

The value entered in this field varies depending on the range that you have selected. If you selected All projects, this field is inactive. If you selected One project, enter the project in this field. If you are updating a Range of projects, enter the starting project in this field. If you selected the From Beginning option, this field is inactive. If you selected the To End option, enter that project in this field.

Click to select values from the appropriate table.

End

The value entered in this field varies depending on the range that you have selected. If you selected All projects, this field is inactive. If you selected One project, this field is inactive. If you are updating a Range of projects, enter the ending project in this field. If you selected the From Beginning option, enter that project in this field. If you selected the To End option, this field is inactive.

Click to select values from the appropriate table.

Options

Update

Use the fields in this group box to select the tables that you want to update.

Project Ledger

Select this check box to include all cost and revenue amounts in this update. The default for this check box is selected. Costs and revenue from the PROJ_SUM and PROJ_BURD_SUM tables are summarized by fiscal year and are copied into the PSR_PY_SUM and PSY_PY_BURD_SUM tables. The Manage Prior Year Cost and Revenue screen displays the amounts in the PSR_PY_SUM and PSR_PY_BURD_SUM tables. You normally select this check box only when you are closing your fiscal year or when an audit or other adjustment to prior year amounts has been completed.

Labor History

Select this check box to include all labor history hours in this update. The default for this check box is selected. Actual and allowable hours from the Manage Project Labor History screen (LAB_HS table) are summarized by fiscal year, project, organization, account, GLC, PLC, and employee or vendor. PY_PROJ_LAB_HS is updated with these summarized amounts. PY_PROJ_LAB_HS captures actual and allowable hours for projects that have established hours-based ceilings.

Units

Select this check box to include all units amounts in this update. The default for this check box is selected. Actual and allowable units from the UNITS_USAGE_HS table are summarized by fiscal year, project/CLIN/item, or price catalog/item. PY_UNITS_PRICING is updated with these summarized amounts. PY_UNITS_PRICING captures actual and allowable units for projects that have unit maximum billing quantities.

Billing Value

Select this check box to update all billing value amounts. The default for this check box is selected. Billing value amounts are summarized by fiscal year, project, account, organization, employee, vendor, vendor employee, GLC, and PLC. PY_GOAL is updated with these summarized amounts from the PROJ_GOAL_DETL table. The data in the PY_GOAL table is displayed on the Manage Prior Year Billable Value screen.

Cobra History

Select this check box to update the prior year Cobra tables. You should select this check box only if you have purchased the Cobra software and are running the Cobra Interface process.  If you select this check box, the Update Prior Year History process updates the Manage Prior Year Cobra Costs screen (PY_CB_SUM and PY_CB_BURD_SUM tables) with data in the CB_SUM and CB_BURD_SUM tables. 

Update Prior Year History Using

Use the fields in this group box to select the rate type with which you want to close the fiscal year.  This process updates the Closing Rate Type field on the Manage Fiscal Years screen. This rate type is printed on project reports for informational purposes.

Actual Burden Rates

Select this option to update prior year cost information using actual burden rates for the selected fiscal year. 

The Compute Burden Costs process computes indirect costs at actual rates for each period of the fiscal year and inserts the amount into the PROJ_BURD_SUM table. The amounts in the actual columns of this table are summarized for the fiscal year and inserted into the Incurred Amount column on the Prior Year Pool Amounts subtask on the Manage Prior Year Cost and Revenue screen. The actual rates used to compute burden are on the Pool Rates subtask of the Manage Cost Pools screen.  

Target Burden Rates

Select this option to update prior year cost information using target burden rates for the selected fiscal year.

The Compute Burden Costs process computes indirect costs at target rates for each period of the fiscal year and inserts the amount into the PROJ_BURD_SUM table.  The amounts in the target columns of this table are summarized for the fiscal year and inserted into the Incurred Amount column on the Prior Year Pool Amounts subtask of the Manage Prior Year Cost and Revenue screen. The target rates used to compute burden are on the Pool Rates subtask of the Manage Cost Pools screen.  

Actual Burden Rates/Target Revenue

Select this option to update prior year cost information using actual burden and target revenue rates for the selected fiscal year.

The Compute Burden Costs process computes indirect costs at actual rates for each period of the fiscal year and inserts the amount into the PROJ_BURD_SUM table. The amounts in the actual columns of this table are summarized for the fiscal year and inserted into the Incurred Amount column on the Prior Year Pool Amounts subtask of the Manage Prior Year Cost and Revenue screen. The actual rates that are used to compute burden are on the Pool Rates subtask of the Manage Cost Pools screen.  

The Compute Revenue process computes the revenue at target and inserts the total into the TO_REV_TGT_AMT column in the PROJ_SUM table. 

Update

Click to start the update process.

After running this screen, do not delete the LAB_HS table for prior years if you plan on doing retroactive bills. The Calculate Retroactive Bills screen needs the Effective Bill Date from the LAB_HS table to determine the retroactive amount to bill.