Costpoint Online Help

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Set Up ETCs

Timing is very important when using the ETC features.

To set up and use the ETC capabilities, use the sequence of steps outlined as follows.

Step-by-Step Setup

Note:

Before updating the ETC tables, post all journals. Additionally, if cost pools exist, compute rates for the subperiod of the update and run the Compute Burden Costs screen. This ensures that direct and indirect costs are copied into the ETC tables.

  • Import Inception-to-Date Costs Incurred: Initialize the project ETC by using the Update Incurred Cost for ETC utility to import inception-to-date costs into the ETC tables. You can run this utility for a range of projects. You select the fiscal year, period, and subperiod of the update. Project costs and hours in the PROJECT_SUM, PROJECT_BURDEN_SUM, and LABOR_HISTORY tables are summarized ITD and copied into the ETC tables.
  • Import Project Budgets: Import the project total budget into the LREAC fields using the Compute Estimate to Complete screen. Create ETC amounts by importing project budgeted amounts into the LREAC fields. With this utility, you can update ETC amounts and hours with budget minus incurred values or update the LREAC with a percent complete. If you choose the latter option, you can identify the project percent complete. The utility multiplies incurred costs by the percent entered to arrive at LREAC amounts. The utility plugs the ETC amounts and hours with the difference.
  • Maintain ETCs: Enter amounts, hours or percentages for ETC amounts or hours. You can enter the ETC, the LREAC, or the Percent Complete, and Costpoint calculates the other two variables:

    ETC = LREAC - Incurred

    LREAC = Incurred + ETC

    Pct Complete = Incurred/LREAC

  • Create ETC Report Tables: Once ETC amounts and hours are final, you must create the report tables. This process updates the report tables with new ETC amounts and hours. It also updates the report tables with header information needed on the reports. Both ETC reports and inquiries are run from the report tables.
  • Print ETC Reports/View Inquiries: You can view or print out ETC amounts and hours once the report tables are created.