Navigation: » No topics above this level «

Reports

This section contains information about the functions which can normally be found under the menu item ‘Management Information’. This chapter contains information about the reports for financial management and control. These functions are normally used by the project developers and the financial department.

Aggregation levels

Invantive Estate offers you reports on four different levels of aggregation. Level four provides the most detailed information, while level one is the most summarized version.

Calculation Deviation

The main function of Invantive Estate is determining the prognosis of the result of a project. The difference between the prognosis and the budget is called ‘deviation’.

A project has several sides when looking from a financial point of view:

•The initial prognosis of the result (the budget).

•The actual outcome of the result (the result).

•The interim estimate of the ultimate outcome (prognosis and its deviation from the budget).

The initial prognosis is usually determined by a project developer as an exposé which becomes a project after being approved. In the end, you can read from your general ledger what the final result has been. However, projects can take years and large fluctuations between the prognosis and the final outcome are not unusual if project results are not placed under tight control. Invantive Estate support you in managing and controlling project results based on the information known at reporting time.

Prognosis End of Work

The financial results (the so called ‘Prognosis End of Work’) of a project consists of:

The expected revenues

The expected costs

For finance, an other financial result is determined, namely taking into account the amount already processed in the results of the organization while the project is still running. This is, for example, important with an administration following the IFRS rules. In that case the result consists of:

The expected revenues

The expected costs

The already taken result

The expected revenues are the sum of the expected revenues registered on all costs types in the master roll ups of the type ‘Revenues’.

The expected costs are the sum of the expected costs registered on all costs types in the master roll ups of the type ‘Costs’.

The already taken result consists of the sum of all invoice lines registered on costs types in the master roll ups of the type ‘Results’.

Deviation from a Cost Category

The deviation of a cost category is determined by the following calculation rules:

Depending of the project settings for the ‘release of deviations’ (see Projects) only negative or also positive balances are included in the calculation of the deviation of a cost category:

•Displaying is turned on for the entire project: for all cost categories negative and positive remainders are included.

•Display is turned on for ‘Cost Category’ for the entire project. If display for cost category is turned on or revenues are involved, then positive and negative remainders are included. If display for cost category is turned off and no revenues are involved, then positive and negative remainders are replaced by 0.

The remainder before the settings regarding displaying are executed, is calculated as follows:

Cost category budget

Approved budgets on specific contracts

Spend budget outside the contracts with specific budgets

Deviation contract with specific budgets

The deviation for contracts with specific budgets, is calculated as follows:

contract budget

Spend budget

The budget spent on contracts are calculated as follows:

The largest of:

•Latest estimate, if present.

•If the absolute amount on invoices with orders is greater than the absolute amount of orders, contracted revenues or budgeted revenues: then take the amount of invoices with order.

•If the revenue is not bound to a contract yet (only budgeted), there are invoices attached and the revenue has the attribute ‘1 period’: take then the amount of invoices with order.

•If not, take the amount for orders, contractual revenues or budgeted revenues. Plus the amount for invoices without order.

Merging Subprojects

Master projects consist of several subprojects, with each subproject having its own financial administration. Within the master project no financial numbers can be registered. Usually subprojects are separately financially reported. However, if in My Preferences the option ‘Merge Subprojects’ is turned on, then only master projects and independent projects are reported. The deviation of a master project is calculated as follows:

•Take a subproject.

•Make the cost category unique by assigning a unique prefix.

•Calculate the deviation like normal.

•Do the same for all subprojects.

•Offset all deviations.

Important Safety and Usage Information

Intended Use and Limitations: This software, developed by Invantive, is designed to support a variety of business and information technology data processing functions, such as accounting, financial reporting an sales reporting. It is important to note that this software is not designed, tested, or approved for use in environments where malfunction or failure could lead to life-threatening situations or severe physical or environmental damage. This includes, but is not limited to:

Nuclear facilities: The software should not be used for operations or functions related to the control, maintenance, or operation of nuclear facilities.
Defense and Military Applications: This software is not suitable for use in defense-related applications, including but not limited to weaponry control, military strategy planning, or any other aspects of national defense.
Aviation: The software is not intended for use in the operation, navigation, or communication systems of any aircraft or air traffic control environments.
Healthcare and Medicine Production: This software should not be utilized for medical device operation, patient data analysis for critical health decisions, pharmaceutical production, or medical research where its failure or malfunction could impact patient health.
Chemical and Hazardous Material Handling: This software is not intended for the management, control, or operational aspects of chemical plants or hazardous material handling facilities. Any malfunction in software used in these settings could result in dangerous chemical spills, explosions, or environmental disasters.
Transportation and Traffic Control Systems: The software should not be used for the control, operation, or management of transportation systems, including railway signal controls, subway systems, or traffic light management. Malfunctions in such critical systems could lead to severe accidents and endanger public safety.
Energy Grid and Utility Control Systems: This software is not designed for the control or operation of energy grid systems, including electrical substations, renewable energy control systems, or water utility control systems. The failure of software in these areas could lead to significant power outages, water supply disruptions, or other public utility failures, potentially endangering communities and causing extensive damage.
Other High-Risk Environments: Any other critical infrastructure and environments where a failure of the software could result in significant harm to individuals or the environment.

User Responsibility: Users must ensure that they understand the intended use of the software and refrain from deploying it in any setting that falls outside of its designed purpose. It is the responsibility of the user to assess the suitability of the software for their intended application, especially in any scenarios that might pose a risk to life, health, or the environment.

Disclaimer of Liability: Invantive disclaims any responsibility for damage, injury, or legal consequences resulting from the use or misuse of this software in prohibited or unintended applications.