Edit Cost to CompleteLast updated on 03/22/2022
Cost to Complete is a field in the Project Summary section of the project page that calculates the default cost to complete a project by deducting actual expenses from budgeted expenses. You can also update the value manually if you have additional costs that are not budgeted.
Things to know
Cost to Complete is included in the revenue recognition calculation in the Work in Progress (WIP) report to calculate the percentage of completion.
If you anticipate unaccounted budget overruns, update the Cost to Complete manually to have an accurate percentage of completion calculation in the WIP report. This can also be applicable for cases when you anticipate the remaining cost to complete the project will be less than what you had originally budgeted for.
Manually update the cost to complete
To update value manually to complete the project:
Search for the project you want to edit the cost for and click it to open it.
In the Project Summary section, in the Percent Complete column of the Cost to Complete row, click Edit.
Edit Cost to Complete opens.
Select Custom Value.
Enter the cost you want to use.
When you’re done, click Save.
After updating the cost, in the Cost to Complete field you can see both the updated and default values.
Note: You can go back and change the cost value back to the default anytime.
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Important note: Some features may not be currently included in your account and additional configuration may be required. Please contact technical support for details.
Disclaimer: Information provided in this article is for informational purposes only and it should not be construed to be legal advice. Information provided in this article may also not constitute the most up-to-date legal or other information. You should not act or refrain from acting on the basis of any information in this article to meet any compliance requirements without seeking independent legal or other professional advice.