Setting Up Schedule of Values (SOV)
The Schedule of Values (SOV) sheet provides a view of all the following information in one Sheet:
- Purchase Orders (Base Commits)
- Change Orders (Change Commits)
- Payment History (Pay App)
The system supports the following types of SOV:
- General Spends
- Payment Applications
- Summary Payment Applications
The needed SOV type is designed in uDesigner.
The data for the SOV sheet comes from the following BP types:
- Base Commit
- Change Commit
The business processes can be designed to create an SOV sheet automatically upon reaching the designated step.
When line items are added to the SOV sheet, the order of line items in the sheet is based on the time line that the line items were rolled up from the Base Commit and Change Commit records.
The data seen in the SOV sheet is based on the order in which the SOV lines were created. You can use the numeric column to sort the data based on the number that you specify.
When a Base Commits Business Process (BP) is approved, it creates a Schedule of Values (SOV) sheet. The SOV sheet is the "working document" on which committed monies are entered. The committed monies shown on the SOV sheet are rolled up to the Company Cost Sheet.
Note: The Change Commits BPs continue to change or add costs to the SOV during the life of the Project/Shell.
The Schedule of Values (SOV) functionality provides a way to assemble information from contract, change order, and invoice/payment BPs into a SOV sheet, streamlining the process of invoicing for completed phases of a Project/Shell.
SOV functionality is available for Cost type BPs in which the "Allow creation of Schedule of Values" option is defined, or selected, in the design properties. The BPs can be designed to create an SOV sheet automatically upon reaching the designated step.
You may define one SOV sheet per Commit BP, for example, a Purchase Order or a Contract. Rows are automatically populated based on the CBS/Cost/Accounts codes defined in the Commit BP.
Before you can create an SOV:
- Design Commit type BP in uDesigner and deploy.
- Configure and set up commit BP.
SOV functionality is available with commit BPs, for example a Purchase Order for which the Create SOV option is selected in uDesigner. For these BPs, the system automatically creates a SOV sheet upon reaching the designated step. There may be one SOV sheet per Commit Business Process. Rows are automatically populated based on the CBS/Account Codes defined in the Commit BP.
- Create and set up the Project/Shell Cost sheet.
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Last Published Saturday, July 13, 2024