Working with the Financial Summary

Contents

A major component of the EnterpriseTrack system is the financial tracking at the project level.

You can view a summary of all your financial data on the Summary tab of the Project Finances page.

The categories of savings, costs and external benefit (soft dollar) items are configured for your system, and each category can have multiple sub-categories. Project Forecasts for each category can also be viewed on this tab.

The first part of the tab displays the financial calculations specified for your particular project such as the Net Present Value ( NPV), Internal rate of Return ( IRR) and Return on Investment (ROI). This section will be visible only if it has been enabled in the financial template by your administrator.

The system allows you to apply multiplication factors at the category and sub-category level. E.g. Only 10% of all Working Capital may be counted as part of Savings. When entering data, users enter working capital numbers normally, but the system displays 10% of the total working capital on the Financial Summary tab as well as in reports.

You can view the detailed monthly financial information on the Monthly tab. If you are entering an aggregate value for finances, the monthly tab may display a monthly break-down in a read-only mode. You can view and edit values by clicking the Edit Finances for Category or Edit Finances for Month drop-down list.

If your system has a financial window that was defined during configuration, this window is displayed as normal black text. It may also be highlighted using a different color. Data for periods outside the financial window is usually displayed in blue italics.

The max number of months of financial data tracked was configured for your system (24/36/48, etc.). When a project is created, all the financial categories across all months are initialized to zero. As the project progresses, users may enter financial data in any month after the finance lock date (the columns/months that may be edited are marked "Plan" or "Forecast" versus "Realized" or "Actual"). The finance lock date is set globally by the finance administrator of your system, and may be overridden by the financial administrator for your project.  

Note: When a project is closed, a read-only snapshot is taken of all the financial entered up to that point. This is used to depict Plan versus Actual financial data in reports. This information can be seen in the Financial Plan vs Actual Report. Depending on how your deployment is configured, the finance snapshot can be stored when the finance representative performs a finance validation. At project closure, if a finance snapshot does not exist, the system will automatically store the current project finances in the finance snapshot.