This is similar to the idea or bug submitted with number S200UK-I-2651 but I didn't initially notice this issue also affected the costs too, not only the revenue side of things, so I thought I should add it as a separate issue.
Project Accounting is fundamentally flawed and gives us misleading information regarding the projects' financials which is in essence, is why you buy the optional module, to help manage your projects.
Since logging the other idea/bug regarding the incorrect, overstated revenue, I've realised that the "Committed cost" is also incorrectly overstated in relation to "Lost" quotations which won't be going ahead, so there won't be any costs to follow in relation to that quote.
So our project 652 is showing "Potential Revenue" of £25,472.51, of which the vast majority relates to our "Lost" quotation 337 which is not going to proceed. So that's misleading. This then suggests the "Total Revenue" will be approximately double what it'll be in reality. But it also seems to be including the anticipated cost of supplying the items included on quote number 337. £9,014.58 (£420.66+£3,508.02+£4,276.27+£809.63) of the £15k as shown in the screenshot won't happen.
If the quote is "Lost", then Sage should be sophisticated enough to exclude the items which relate to "Lost" quotation/s from the "Committed cost" calculation.
This project 652 shows double the revenue that it should do. Estimated costs are £9k higher than they should be. It just makes it so much harder to ascertain how the project is performing because the update in SOP (being able to mark a quote as lost) hasn't seemingly been considered in Project Accounting.
We are now having to incur additional cost to get our Sage partner to come up with a work-around for this so that our Power BI reporting is reliable because Sage itself is so misleading.
Please fix this ASAP.
It should also be able to cope with the unlikely situation where if I quote were amended from "Lost" to "Live" again, that the costs & revenues for that quote should
then be included again in the project calculations.
Thanks
Idea Benefit | Accurate idea of costs to complete - very fundamental |
How do you solve for this problem today? | Use information extracted from Sage into Power BI, then have to remove the bogus, misleading info manually to get a true reflection on the status of the project. Disappointing! |
Product Variant | Sage 200 Professional |