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 Prior Year Cost and Revenue screen (Projects » Project Setup » Project History), which contains data for direct costs, indirect costs, and revenue incurred prior to the current fiscal year.  The data in the Prior Year Cost and Revenue screen is used to calculate cumulative columns on projects reports and inception-to-date revenue.  You should 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 will be 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, the system 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.

Before executing this utility, you should run the Assign Account Function Codes toolkit located in the Miscellaneous Toolkits screen (Projects » Cost and Revenue Processing » Utilities). This will ensure that the account function codes in the PROJ_SUM table are consistent with the current Project Account group setup. If you have added an account to the project account group or changed the function code of an account in the project account group, this toolkit will adjust the PROJ_SUM table.  Failure to execute this toolkit before executing the Update Prior Year History utility could result in a SQL error.  You will 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 have 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 in the Compute Revenue process. If you have not updated the prior year tables, revenue calculations for the new fiscal year could be incorrect.

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 Prior Year Cost and Revenue screen (Projects » Project Setup » Project History) or the Prior Year Billable Value Amounts screen (Projects » Project Setup » Project History), or through the use of scripts for a given fiscal year, you should 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 will occur only in your first fiscal year in Costpoint.

Fiscal Year

Enter, or select from the drop-down list, the fiscal year for which you want to update prior year history. This is the fiscal year that you are closing.  All the data for this fiscal year in the PROJ_SUM and CB_SUM tables will be summarized and transferred to the PSR_PY_SUM and PY_CB_SUM tables.  Any data for this fiscal year in the PSR_PY_SUM and PY_CB_SUM tables will be overwritten.

Update

Use the fields in this group box to select the tables that you want to update.

Project Ledger

Select this check box to include all cost and revenue amounts in this update. The default for this check box is selected. Costs and revenue from the PROJ_SUM and PROJ_BURD_SUM tables are summarized by fiscal year and are copied into the PSR_PY_SUM and PSY_PY_BURD_SUM tables. The Prior Year Cost and Revenue screen (Projects » Project Setup » Project History) displays the amounts in the PSR_PY_SUM and PSR_PY_BURD_SUM tables.  You would normally select this check box only when you are closing your fiscal year or when an audit or other adjustment to prior year amounts has been completed.

Labor History

Select this check box to include all labor history hours in this update. The default for this check box is selected. Actual and allowable hours from the Maintain Labor Summary screen (Projects » Project Setup » Project History) (LAB_HS table) are summarized by fiscal year, project, organization, account, GLC, PLC, and employee or vendor. PY_PROJ_LAB_HS is updated with these summarized amounts. PY_PROJ_LAB_HS captures actual and allowable hours for projects that have established hours-based ceilings.

Units

Select this check box to include all units amounts in this update. The default for this check box is selected. Actual and allowable units from the UNITS_USAGE_HS table are summarized by fiscal year, project/CLIN/item, or price catalog/item. PY_UNITS_PRICING is updated with these summarized amounts. PY_UNITS_PRICING captures actual and allowable units for projects that have unit maximum billing quantities.

Billing Value

Select this check box to update all billing value amounts. The default for this check box is selected. Billing value amounts are summarized by fiscal year, project, account, organization, employee, vendor, vendor employee, GLC, and PLC. PY_GOAL is updated with these summarized amounts from the PROJ_GOAL_DETL table. The data in the PY_GOAL table is displayed in the Prior Year Billable Value Amounts screen (Projects » Project Setup » Project History).

Cobra History

Select this check box to update the prior year Cobra tables. You should select this check box only if you have purchased the Cobra software and are running the Cobra Interface process.  If you select this check box, the Update Prior Year History process will update the Maintain Prior Year Cobra Costs screen (Others » Product Interfaces » Cobra Interface) (PY_CB_SUM and PY_CB_BURD_SUM tables) with data in the CB_SUM and CB_BURD_SUM tables. 

Select Project

Use the fields in this group box to select the range of projects that you want to update.  You should run this process for all projects at least once during the fiscal year closing process.

Range Option

Enter, or use the drop-down list to select, the range of projects you want to update. Valid options are:

The default for this field is All.

From

The value entered in this field varies depending on the range that you have selected. If you selected All projects, this field is inactive. If you selected One project, enter the project in this field. If you are updating a Range of projects, enter the starting project in this field. If you selected the From Beginning option, this field is inactive. If you selected the To End option, enter that project in this field.

Use to select values from the appropriate table.

To

The value entered in this field varies depending on the range that you have selected. If you selected All projects, this field is inactive. If you selected One project, this field is inactive. If you are updating a Range of projects, enter the ending project in this field. If you selected the From Beginning option, enter that project in this field. If you selected the To End option, this field is inactive.

Use to select values from the appropriate table.

Update Prior Year History Using

Use the fields in this group box to select the rate type with which you want to close the fiscal year.  This process will update the Closing Rate Type field in the Fiscal Years screen (Accounting » General Ledger » Controls). This rate type will be printed on project reports for informational purposes.

Actual Burden Rates

Select this option to update prior year cost information using actual burden rates for the selected fiscal year. 

The Compute Burden Cost process (Projects » Cost and Revenue Processing » Project Cost Processing) computes indirect costs at actual rates for each period of the fiscal year and inserts the amount into the PROJ_BURD_SUM table.  The amounts in the actual columns of this table are summarized for the fiscal year and inserted into the Incurred Amount column in the Pool Detail subtask of the Prior Year Cost and Revenue screen (Projects » Project Setup » Project History).  The actual rates that are used to compute burden are in the Pool Rates subtask of the Cost Pools screen (Projects » Cost and Revenue Processing » Cost Pool Setup).  

Target Burden Rates

Select this option to update prior year cost information using target burden rates for the selected fiscal year.

The Compute Burden Cost process (Projects » Cost and Revenue Processing » Project Cost Processing) computes indirect costs at target rates for each period of the fiscal year and inserts the amount into the PROJ_BURD_SUM table.  The amounts in the target columns of this table are summarized for the fiscal year and inserted into the Incurred Amount column in the Pool Detail subtask of the Prior Year Cost and Revenue screen (Projects » Project Setup » Project History).  The target rates that are used to compute burden are in the Pool Rates subtask of the Cost Pools screen (Projects » Cost and Revenue Processing » Cost Pool Setup).  

Actual Burden Rates/Target Revenue

Select this option to update prior year cost information using actual burden and target revenue rates for the selected fiscal year.

The Compute Burden Cost process (Projects » Cost and Revenue Processing » Project Cost Processing) computes indirect costs at actual rates for each period of the fiscal year and inserts the amount into the PROJ_BURD_SUM table.  The amounts in the actual columns of this table are summarized for the fiscal year and inserted into the Incurred Amount column in the Pool Detail subtask of the Prior Year Cost and Revenue screen (Projects » Project Setup » Project History).  The actual rates that are used to compute burden are in the Pool Rates subtask of the Cost Pools screen (Projects » Cost and Revenue Processing » Cost Pool Setup).  

The Compute Revenue process (Projects » Cost and Revenue Processing » Revenue Processing) computes the revenue at target and inserts the total into the TO_REV_TGT_AMT column in the PROJ_SUM table. 

Update

Click this icon on the toolbar to start the update process.

After running this screen, do not delete the LAB_HS table for prior years if you plan on doing retroactive bills. The Calculate Retroactive Billings screen (Projects » Billing » Calculate Billings) needs the Effective Bill Date from the LAB_HS table to determine the retroactive amount to bill.

Table Information

Changes to this screen update the following tables:

Source Tables

PROJ_SUM

UNITS_USAGE_HS

LAB_HS

CB_SUM

CB_BURD_SUM

PROJ_BURD_SUM

PROJ_GOAL_DETL

Tables Updated

PSR_PY_SUM

PY_UNITS_PRICING

PY_PROJ_LAB_HS

PSR_PY_BURD_SUM

PY_GOAL

PY_CB_SUM

PY_CB_BURD_SUM