Calculating Costs

Cost calculation helps you calculate the costs for the work breakdown structure and budget. You define the source and enter the rate and NetSuite calculates the cost.

Note:

If NetSuite automatically decreases the Estimate to Complete (ETC), you can see the ETC quantity. In this case, you can update the quantity for a given unit of measure to update the cost. This is helpful if the actual cost does not correspond to the actual project or task progress.

To calculate costs:

1. Go to Lists > Relationships > Projects.

2. Click Edit next to the project you want to update.

3. On the Work Breakdown Structure subtab, click Edit.

4. On the Lines subtab, click Estimate to Complete in the row for which you want to perform the cost calculation.

5. Click the open icon .

   The Define Work Item popup window appears.

6. Choose Items or Project Resources as the source of the cost information.

7. From the Input field, select the item or resource.

8. You can enter:

   • ETC quantity

   • ETC cost

   • ETC quantity and ETC cost.

   Note:

   The rate is displayed and your ETC cost is converted to the ETC quantity.

9. Click Submit.

Note:

NetSuite now updates your WBS with the calculated costs based on your defined source information.

Related Topics:

• Editing Estimates in the Work Breakdown Structure
• Creating a Work Breakdown Structure
• Mapping Actuals to the Work Breakdown Structure
• Creating a Budget from a Work Breakdown Structure
• Advanced Project Budgeting

General Notices