Financial snapshots
Use this function to obtain a real-time top-level financial overview, a snapshot, of a project at a specific point in time.
A financial snapshot is based on the actual financial status of a project relative to its budgets. It provides similar figures to those provided for a project financial overview.
You can access this function directly from a project.
Prerequisites
Refer to documentation Implementation
Screen management
The Financial snapshots function contains a home section in which you define a "snapshot header" with a Snapshot list section that contains a table of all extracted snapshots.
Home
You use this section to create a "snapshot header".
A snapshot header sets the parameters for a financial extraction. It’s a prerequisite to running a snapshot. The snapshot header comprises the project code, the financial view to be extracted, and the unit and currency to be used each time the data extraction is requested.
After you've created a snapshot header, you can use the Extract snapshot action to extract data for the project as needed.
Project number (field OPPNUM) |
The project code to inquire upon. The current project code is displayed if you accessed this function directly from the project. |
Snapshot code (field SNPCOD) |
The snapshot code is generated automatically using the SNP—Financial snapshots sequence code. |
Description (field DESAXX) |
The long description defined on the project record. |
Financial view (field SHOWGRP) |
The financial view to link to an SQL query. Select a view code from the codes activated in the 388—Financial view miscellaneous table. For example, for an expense view select view 10 or a revenue view, select view 20. By default, the 388 miscellaneous table enables data tracking on selected financial views such as expenses and revenue. The 388 table therefore controls which financial overview data can be displayed.
Project management includes standard, or master SQL queries for both expense and revenue financial overviews. Delivered by default with your solution are master SQL queries for Financial views 10 (expenses) and 20 (revenue). You can modify these master SQL queries, or create new SQL queries from scratch to suit your organization, your processes, or your users. You’re advised, however, to get a basic understanding of how your system works before changing a master query.
Sage advises that you save a copy of a master SQL query before modifying it.
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Unit (field UOM) |
The time unit as specified on the task operation on the project, but can be amended. |
Currency (field CUR) |
The currency associated with the sales site (Sales site field) defined for the project. It cannot be changed after the project is created. |
Snapshot date (field SNPDTECRE) |
The default date is the current date. You cannot change it.
As a snapshot is real-time, each new snapshot overwrites a previous snapshot created on the same date.
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Revenue recognition (field REVRECFLG) |
Select this checkbox if this snapshot needs to recognize project revenue, otherwise leave clear.
The method your project will use to calculate the values is defined in the Revenue recognition rule field (RRCC) in the General section, Financials block on your project.
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Tab Snapshot list
You use this section to view the list of snapshots that have been extracted for the snapshot header. As each extracted snapshot is unique, it's allocated an automatic identifier to effectively timestamp the extraction. The most recent snapshot is always the first snapshot in the list, by default. You can view the actual snapshot data using the View action from the Actions icon.
The list is updated from the Extract snapshot action in this function and by the Financial snapshot extraction function (PJMSNPEXT).
Grid
View |
Select View from the Actions icon to view these snapshot details. A snapshot offers twin views:
To view all cost types associated with the project, select the project level in the Cost structure section. To view the individual cost types associated with a particular budget code, select the budget code in the Cost structure section. The cost types are refreshed dynamically to reflect the selected budget code. The budget amounts in the financial snapshot are derived from the budget tables. The actual and committed cost amounts are derived from the defined SQL query. |
Financial snapshot comparison |
Select Financial snapshot comparison from the Actions icon to use the Financial snapshot comparison function (PJMSNPCMP) to compare the details of the snapshot with a different snapshot extracted for the project or with the current financial status of this project. |
Batch task
This function can be run in batch mode, but no dedicated standard task is delivered to run it.
Specific actions
Extract snapshot |
Select the Extract snapshot action to obtain a real-time top-level overview, a snapshot, of the selected project. The snapshot data is added to the list of snapshots in the Snapshot list section. Each time you extract snapshot data, the Financial status sections of the associated project and the cost structure are synchronized with the extracted data if the FINOVERSYN—Updated fin. status/snapshot parameter (TC chapter, PJM group) is set to Yes and the Revenue recognition checkbox (REVRECFLG field) is selected for the snapshot header. If the ESTPRGSYNC—Updated est. progress/snapshot parameter (TC chapter, PJM group) is set to Yes, the estimated progress percentage of the project, the project budget, and the operational task (Estimated progress (%) fields) are updated. This action is only available after you've created the snapshot header.
Each new snapshot that you obtain overwrites a previous snapshot created on the same date. Similarly, each new snapshot that you obtain refreshes 1: the project and cost structure financial status, if the FINOVERSYN—Updated fin. status/snapshot parameter (TC chapter, PJM group) is set to Yes and the Revenue recognition checkbox (REVRECFLG field) is selected in the snapshot header, 2: the estimated total revenue for the project, if the ESTREVSYNC—Updated est. revenue/snapshot parameter (TC chapter, PJM group) is set to Yes and the Revenue recognition checkbox is selected in the snapshot header, 3: the estimated progress percentage of the project, the project budget, and the operational task, if the ESTPRGSYNC—Updated est. progress/snapshot parameter (TC chapter, PJM group) is set to Yes.
Field descriptions
Criteria
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Limitations
- You cannot use this function to consolidate data for different projects.
- You cannot change the time unit or currency after the snapshot header is created. You can, however, choose to display just time or amount values.
- Access to project financial expense detail at the cost type level is blocked.
Error messages
The only error messages are the generic ones.
Tables used
Refer to documentation Implementation