You can extend your Project Budget periods and create a new Budget version from your current EAC for the new periods. Wage escalation occurs from the current period only and the past periods remain as Actual.
Prerequisite: Select the Unlock EAC Last Closed Periods option in Configuration Settings. This enables you to edit the last closed period actuals. This flag also allow edits to the last EAC period in the source EAC version used to create the new Budget version. You can update late last period entries and audit changes in the new Budget version.
To Create a Budget from EAC:
Go to Planning » Project Budgeting » Budget/EAC Processing » Project Budgets/EAC.
Highlight a row with an approved EAC. You will notice that the Create Bud action button is now available.
Click Create Bud to create a Working status Budget with a sequential version number from the last Approved Budget.
The new Working Budget displays actual costs up to the current period. It includes the source EAC forecast to the end date. This end date is editable and can be extended.
The actual costs in the new Budget includes actual labor rates, up to the last closed period. Escalation will applies to those rates in current and future periods.