Re-estimation of Prices at Month End

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Upon month-end closing, revaluation of all assets is a mandatory function. This revaluation will trigger updates on all accrual values populated in cost sheets.

 

Re-estimation Feature

This feature can be found on the screen to open and close financial periods. A user will need the Recalculate all estimated prices permission (under Contracts permissions) to see the line Prices to re-estimate and the Re-estimate link.

 

Re-estimation link

 

The first number shown, 662 is the number of contract deliveries that will need to be re-estimated from the total number of contract deliveries (also 662 in this example).   To start re-estimation, select the Re-estimate link.  This will bring up the Recalculate estimated prices screen.

 

Recalculate estimated prices screen

 

1.Important: Select the last calendar date of the month for month end closure.  It must be the last calendar date, not weekday for this month end re-estimation.  The market data entered for this date is then used for re-estimation.
a.Note: if you do not select the last calendar date of the month, you will be asked to again do a re-estimation before you can proceed with the closure.
2.Select the Estimate Price button.  This starts the re-estimation of all open lots on contracts.  A progress indicator will appear and show how many items have been processed.

 

Re-calculated Estimated Prices Progress Bar

 

Note: Re-estimation may take some time depending on how many items there are to process.  If possible, you should do a re-estimation at the end of business or when the the system is not in heavy use so the re-estimation process runs as quickly as possible.