Cost periods

Cost periods are intervals of time that are used to track costs. Cost periods can be selected in applications for payment (AFPs), contract invoices, and general invoices. They can also be added automatically to cost forecasts.

The cost period determines:

  • Which subcontract change orders (SCOs) can be added to a contract invoice.
  • Which prime contract change orders (PCCOs) can be added to an AFP.
  • Which contract invoices and general invoices can be included in an AFP.
  • Which AFPs, contract invoices, and general invoices are included in cost forecasts by period.

Only contract invoices and general invoices from the current cost period are included in the calculation of the Actual Cost To This Period column in the budget. If you change the current cost period, this column is recalculated.

  1. Open the settings.
  2. In the Portfolio settings or Project settings section of the menu, click Financials.
  3. On the menu, click Cost Periods.
  • On the navigation toolbar, click lock (Locked) or lock_open (Unlocked).
    • If you relock the cost periods, the project-level cost periods are merged with the portfolio-level cost periods so that you don't lose any existing ones.
    • You can't relock the cost period settings if:
      • The current cost period is different at the project level and the portfolio level.
      • The project-level cost periods are incompatible with the portfolio-level cost periods.

        • For example, the cost periods are incompatible if a date range falls within an existing portfolio-level cost period but isn't exactly the same.

When you add a cost period, the From date is one day after the end of the period with the most recent From date in the project.

When you add a new cost period, the From date is set automatically to 4/1/2018, which is one day after the end of the period (18-03) with the most recent From date (3/1/2018).

Period From To
18-01 1/1/2018 1/31/208
18-02 2/1/2018 2/28/2018
18-03 3/1/2018 3/31/2018

Cost periods are created automatically in a new project unless the project settings are copied from a project template with cost periods.

  1. Click Add.
  2. In the Period cell, enter a unique name.
  3. Edit the From and To dates.
    • The From date can't be later than the To date of the cost period.
    • Cost periods can't have overlapping date ranges.
  4. Enter a note for the cost period.

You can edit a cost period or set the current cost period. When a change order is created, the current cost period can be selected automatically.

  • In the cost period row, click and edit the cell.
  • Select the Current checkbox for the cost period.

    • To clear the checkbox, select the Current checkbox for another cost period.

A cost period can't be deleted if it's used in any record or if it's the current cost period.

  • Select the checkbox for the cost period, and then click Remove.