Overview
To facilitate maintaining accurate costing forecasts for your construction projects, you can record Spend adjustments. These can be any incurred costs that you want to include in your costings that you have not yet been invoiced for. Such costs might include:
- Pending invoices or credits.
- Anticipated expenses, e.g. expenses that are not invoiced regularly.
- Corrections for overestimated costs.
- Manually entered labour costs (if you are not using Lentune time Sheets).
Entering Cost Adjustments
- Start at Payment Claims > Project and select your project.
- Click the Cost Codes tab.
- In the line for the Cost code that you want to edit, click the value in the Adjustment column.
This opens the Spend Adjustments dialog for that Cost code line.
- Enter Notes, Date and Amount and click Add. Adding detailed notes is useful for future reference and to help you keep track of your adjustments.
- Click Close to return to the previous window. Here you can see that the adjustment you have entered is shown.
Tips for Effective Cost Forecasting
- Keep Detailed Notes: Always provide clear and concise notes for each adjustment to ensure transparency.
- Regular Updates: Make necessary adjustments regularly to keep forecasts accurate and up to date.
- Review Adjustments: Periodically review adjustments to identify any trends or recurring issues that may need addressing.
By following these steps and tips, you can effectively manage spent adjustments in Lentune, ensuring your cost forecasts remain accurate and up-to-date.
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Last updated: 25 July 2024