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Latest estimations

In this form you can register and change latest estimates.Open screen in browser Open Form

A latest estimate is a cost driver still to arrive which is included or not included in the budget and is not being covered by an order. A latest estimate can be used to register the expected minimum budget spendings within a contract, regardless of already placed orders or received invoices.

Normally you will register a latest estimate if you expect a claim, an unexpected setback or a non-legally agreed funding (for instance from governments).

Latest Estimates Screen

The meaning of the entry fields is:

Project

The project which the latest estimate is part of.

Cost Type

The cost category on which the latest estimate is registered. Only cost categories can be chosen from the master roll up of the type ‘Costs’.

Supplier

The supplier causing the cost driver.

Contract

The contract for that particular category of costs and the possibly related invoices. The two latest estimates cannot share the same contract.

Amount Latest Estimate

The amount of the latest estimate.

Observation Date

The date at which the latest estimate is determined by the project developer.

Explanation

An informative explanation such as the reason for the expected budget excession.

Documents

Linked documents, see Linking Documents.

Expected Maturity

The date the cash flow for this latest estimate is expected to begin.

Expected Maturity End

The date the cash flow for this latest estimate is expected to end. The maturity date is only relevant if the cash flow projection method needs it.

Distribution Method

The method used to distribute the cash flow of the latest estimate over time based on expected maturity and expected maturity date.
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