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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.

Note: 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.

Note: You should 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, do 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.
Note: The UI profile you are assigned may have caused some fields to be hidden on your screen. A warning message pertaining to a hidden field may also display on your screen. Contact your system administrator for assistance.