Cost Report / Trial Balance

1. First run a PO Recalculation. Click the Setup Options tab, tick the Rebuild Chart Totals and Recalc Posted PO's checkboxes. Then click the Refresh button, click okay on all pop-up windows until the system has finished.

2. Now if you use EzyPO you need to tell Eclipse to stop automatically updating your Budget Worksheet with newly approved PO's. In the main menu bar select Control Table > System Defaults. Untick all of the boxes in the Cost Report P.O Totals section and click on the Update Cost Report PO Totals button. Click Okay button to close the window.

NOTE: Once you are done with the Cost Report you will need to go back in and re-tick all of those boxes and click Update Cost Report PO Totals button again.

3. Now you can begin your Cost Report. From the main menu bar select General Ledger > Budget Worksheet

5. Return to the Worksheet tab. Here you can directly click on the Estimated Final Costs column and change the individual amounts or you can tick the Select All button and right-click in the Window and select Excel. In Excel, you can make all the changes to the EFC column, then select all and paste directly back into the Budget Worksheet. Make any variance notes comments in the Notes column.

PLEASE NOTE: For your first Cost Report, if you are showing a variance, then you will need to take the entire Budget Worksheet to Excel, copy the EFC column to the EFCW column and paste back into the Budget Worksheet.

6. From the main menu bar select General Ledger > Financial Reports

7. From the Report Defaults drop-down menu, select either Cost Report or Trial Balance

8. Write in the description you would like printed on the report in the Note on Report field.

9. Select your Report Layout from the drop-down menu (almost always set to Preview).

10. Tick if you would like a Detailed or Summary Report

Detailed Report Section
Heading Level - Account level from which report will start printing. This would usually be one of your header account levels. See example below.
Detail Level - Choose a level greater than heading level. All chart of accounts that are equal to or less than detail level and greater than heading level will be printed. See example below.

Summary Report Section
Heading Level - Will print all accounts with associated level selected. You would usually use header expense account level (4).

11. Select any other ranges you wish using the Financial Reports Overview section for reference.

12. Click Okay to run the report

Note: The actual to date in the Cost Report includes any PO posted that has been posted and it will affect the estimate to complete. It fills the spot until an invoice has been posted for the PO. But the timing is really important because the PO column is updated as soon as an invoice pulls in a PO but the actual to date is not updated until the invoice is posted. This is why most accountants do not let their team input while they are working on the Cost Report.