All loaded labor formulas are calculated in the PROJ_SUM table using current period information. Therefore, if you want to restate the revenue using a loaded-labor formula for all periods of the current fiscal year, you must recompute revenue for each period. You need to use an inception-to-date revenue adjustment if you need to modify revenue for a prior year.
Loaded Labor formulas require Project Labor Category (PLC) codes to compute accurately. All loaded-labor formulas use PLCs and their related billing rates to compute revenue. To change to a loaded labor formula, PLCs must be in the Labor Summary table for all periods that you wish to modify. Changing to a loaded-labor formula in the middle of a project makes it impossible to impose hours ceilings unless you have the data to initialize the Manage Prior Year Time and Materials Revenue screen.
To change from any formula to a Loaded-Labor formula, complete the following steps:
Calculate or obtain the correct inception-to-date revenue for the project.
Determine whether you are going to adjust revenue for all periods or for just the current period.
Modify the revenue formula. When you enter the new revenue formula, Costpoint displays a message stating that, if you modify the revenue formula, all of the allowable columns for the current fiscal year are deleted. Click Yes if you are changing the revenue for the entire fiscal year. If you do not click Yes, the revenue formula is not modified.
Check for PLCs in the Labor Summary file.
Set up PLCs and Billing Rates in the project labor area. See "Labor Categories/Billing Rates" for assistance with this.
Load Labor Rates for all the periods that are changed to the new revenue formula.
Modify the revenue formula.
Enter the inception-to-date revenue adjustment.
Compute revenue and follow month-end procedures
Review inception-to-date revenue.