altara 9/23/2021 6:53:21 PM

Project accounting and forecasts

Hi,

Kind of a newbie question, please excuse.

Working in GP2018 Project series.  Project is fixed price and cost to cost.  Client is entering a forecast when the project starts and then believes they have to adjust this forecast to match actual costs as they go along to get revenue and or billing to come out right and then at the end so they can close the project. 

This seems counterintuitive to me.  A forecast should be just for planning, shouldn't it?  Is there a reason that they have to keep revisiting the forecast to get project accounting to work?

Is there a best practice?

Thanks!

Greg

Version: GP 2015
Section: Dynamics GP


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