Cost Report/EFC Worksheet

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Estimated Final Cost (EFC) is the projection of the anticipated costs to complete the Production, equal to the sum of the estimate to complete and the actual costs to date for the Production.  The Cost Report/EFC Worksheet [efcws] program allows you to modify EFC’s similar to the EFC Entry [efcent] and Variance Entry [bdve] screens.  However, it differs in the fact that it allows you to ‘Drill-Down’ to see the related transaction details in addition to other new functions.  The Cost Report/EFC Worksheet [efcws] screen looks almost identical to the actual Estimated Final Cost Report [efcrpt] screen except it includes a ‘Reference & Batch’ section that contains white required fields.  In addition, whichever report format type you are using in the Estimated Final Cost Report [efcrpt] screen, the same format(s) is still available in this screen.   Please note you are able to run the Cost Report/EFC Worksheet [efcws] with selecting multiple budgets.  Once an EFC/Variance change has been created, PSL3 automatically adjusts the Cost to Complete, Estimated Final Cost and Variance amounts on the Estimated Final Cost Report [efcrpt].

 

 

Please note EFC's and Variances are created by one of three ways which are as follows:

 

1.By directly accessing the Variance Entry [bdve] screen and inputting the change(s) there.

 

2.By making the change(s) in the EFC Entry [efcent] screen.  After making and saving the EFC change(s), a Variance is created with the new Variance Entry [bdve] Reference Number appearing directly in the EFC Entry [efcent] screen for your records.

 

3.By making the change(s) in the Cost Report/EFC Worksheet [efcws] screen.  After making and saving the EFC change(s), a Variance is created with the new Variance Entry [bdve] Reference Number appearing directly in the Cost Report/EFC Worksheet [efcws] screen for your records.

 

Although PSL3 allows you to select any of the three previously mentioned options, the result of entering an EFC or Variance in either Variance Entry [bdve], EFC Entry [efcent] or in the Cost Report/EFC Worksheet [efcws] screen is exactly the same.

 

 

Open:

 

To access the Cost Report/EFC Worksheet [efcws] click the 'Cost' module from the menu tree (see following screen shot).

 

You can also access this report by typing the screen or acronym name in the blue prompt bar located above the 'Setup' menu.  Then, press Enter.

 

 

 

The screen then appears.

 

 

 

To select criteria, press the F2 Key or right click in most fields to make your selection.  You can also simply type in the criteria in the allotted fields. If you wish to include all criteria information, leave all fields blank except for any white colored fields as white fields are required before proceeding in PSL3.

 

 

Budget Information:

 

Budget - Name of the budget in which the EFC changes will be made.  For each account number, the Estimated Final Cost will be compared to the Budget Amount to determine the Variance.  To choose multiple budgets, press the F2 Key or right click in this field and hold down the Control Key while simultaneously using your mouse to select.

 

Production - Production Code for the Budget Name. The Production Code defaults when the budget is input.  Please note you are not able to access this field.

 

Overage - Name of the Overage Budget selected to compare against the original budget.  If an Overage Budget is selected, the report includes an 'Approved Overage' and 'Total Budget' column in addition to the original 'Budgeted' column.

 

 

Period:

         

Period - System-assigned Period Number that indicates the Accounting Period in which these costs were entered.  If you chose to run the worksheet by Period Number, then the Start Date and End Date fields default for the period chosen.

 

Start Date and End Date - Transaction Effective Dates to include in the worksheet as PSL3 is date-driven.  Current Period Start and End Dates default. You can always change the date by typing over the defaulted date or by right clicking in that field for the calendar selection to appear. To restrict the worksheet to only include information for a single date, input the same date in both the Start Date and End Date fields. To select all dates from inception to future, leave both fields blank.

 

 

 

 

Format:

 

Type - Report format type determining the worksheet columns and their order of appearance.  The default type for the majority of Independent Studios is the 'PSL Standard' format which includes the following columns: Account Number, Account Description, Previous Cost To Date, Actual Cost This Period, Committed, Total Cost To Date, Cost to Complete, Estimated Final Cost, Budgeted and Variance.  If the database is associated with a major studio, than that studio's format type defaults instead.  To view the list of additional format types (if any), click the drop down arrow to select from the list.  PSL3 also provides the option of a Detail, Summary (or Both) worksheet.

 

Summary Sub-total Level - Indicate the account number detail level to include in the Summary worksheet; the default is '1'.  An example of this is if your database is setup with an account mask of XXX-XXX-XXX-XXX, it has four levels.  Please note this option only becomes accessible when you select either the 'Summary' or 'Both' type option.

 

 

Include:

 

Inactive Accounts - Check mark to include accounts that had no activity/distributions posted to them during the period or date range selected or have a zero dollar balance.

 

Budgeted Amount as Activity - Check mark to include accounts that had no distributions posted to them, but do have a non-zero amount budgeted.  If checked, the worksheet  displays these account numbers in the distribution lines.

 

Open Items as Actual Costs - Check mark to include Open Items (items posted but not yet paid) displayed in the Actual Cost column.  Only P/O's will be treated as Commitments.

 

Committed Costs - Check mark for the worksheet to display a column for Committed Costs (items entered in the database, but not yet paid) which consist of P/O's and Open Items.

 

Sub-totals - Check mark to include Sub-total amounts.

 

 

Selections:

 

Press the F2 Key or right click in any of these fields (Company, Series, Location, Set, Insurance and Free Field(s)) to choose the necessary codes if they don't already default. To choose multiple codes for a particular field, press the F2 Key or right click in that field and hold down the Control Key while simultaneously using your mouse to select.  By making a selection, this isolates the worksheet to only display items based on the code(s) selected.  To display an additional detail column on the worksheet for either the Company, Series, Location and/or Set Code, leave these fields blank and check mark the 'Detail' option; PSL3 will print a separate line for each account number and code combination selection.  Please note if you enter in a Company, Series, Location and/or Set Code, you are not able to access the Detail field.

 

 

Accounts:

 

From and To - Account numbers to include in the worksheet. To restrict the worksheet to only include information for a single account number, input the same account in both the From and To fields. To multi-pick certain accounts, press the F2 Key or right click in either field and hold down the Control Key while simultaneously using your mouse to select. To select all account numbers, leave both fields blank.

 

 

Multi-Currency:

 

Source - If you have more than one currency in your database, you can choose to include only transactions denominated in one currency, two, three, etc., or all currencies.  To choose multiple Currency Codes, press the F2 Key or right click in the field and hold down the Control Key while simultaneously using your mouse to select.

 

Target - Base currency set up in the System Control Information Entry [suctrl] screen located in the 'Setup' module defaults.  This Currency Code is what all transactions are converted to on the worksheet.

 

 

Reference & Batch:

 

Press the F2 Key or right click in any of these fields (Batch, Company and Effective Date) to choose the necessary codes if they don't already default.  The codes selected will be associated with the   Variance Entry [bdve] transaction once created.  To run the Cost Report/EFC Worksheet [efcws] from a previous Variance transaction created, use the Variance Reference field to input the Reference Number.

 

 

Worksheet:

 

To proceed with the worksheet, press the F1 Key, then 'W' option or select 'Worksheet' located in the top right hand corner of the screen.  After selecting 'Worksheet', the interactive Cost Report/EFC Worksheet [efcws] appears in which you can make the necessary EFC or Variance change(s) directly on the screen.

 

 

 

 

The Cost Report/EFC Worksheet [efcws] columns and data exactly match the Estimated Final Cost Report [efcrpt].  Similar to EFC Entry [efcent], the white-colored fields which include ‘Cost to Complete’ (CTC), ‘Estimated Final Cost’ (EFC) and ‘Variance’ columns are still editable on the postable accounts.  Also, the ‘Variance Description’ column remains editable as this is where you enter the description after making the necessary changes.  The Variance Description field remains an optional field.  If left blank, the default description will read ‘EFC Worksheet VA’.

 

 

Data View Selection:

 

Upon right-clicking in the Cost Report/EFC Worksheet [efcws], PSL3 displays the list of available options to view the worksheet based on your preference which are as follows:

 

 

 

 

The most popular feature, ‘Drill-Down’ brings up a listing of all transaction details that make up that specific amount based on the criteria input on the Cost Report/EFC Worksheet [efcws].  The following screen shot is an example of the transaction Drill-Down detail columns.  Please note not pictured is the Reference Description, Currency Code and Amount columns.

 

 

 

 

Also, another popular feature is the ‘Relative’ or ‘Replace’ Variance Edit Mode.  PSL3 defaults to the Relative mode which adds or subtracts from the original amount shown whereas Replace overrides the existing amount.  You are able to switch between the two by right-clicking.  The bottom left-hand corner of the screen always display which mode you are currently in as shown below:

 

or

 

In addition, the ‘Jump to Account’ function located in the bottom left-hand corner of the screen allows the cursor to go directly to the indicated account number typed in.

 

 

 

Print/Save the worksheet: Located in the bottom right hand corner of the screen, you can choose the following options:

 

Print - Opens the Print Dialogue box and sends the report directly to the printer.  No Variance transaction is created.

 

Update - Saves the change(s) and remains on the screen.  A Variance transaction is created and the Variance Entry [bdve] Reference Number displays on the screen.

 

Accept - Saves the change(s) and exits the screen.  A Variance transaction is created and the Variance Entry [bdve] Reference Number displays on the screen.

 

Cancel - Discards any/all changes and exits the screen.  No Variance transaction is created.