General Information About Lifecycle Entity Financial Summaries

The entire financial summary of a lifecycle entity uses configurable fiscal periods, where the fiscal year can begin any day of the year and can use as its periods the familiar twelve Gregorian calendar months, or the fiscal year can reflect any standard or non-standard retail calendar. Only fiscal periods that your administrator has generated are displayed. For information about generating fiscal periods, see the Generating Fiscal Periods document.

The approved budget, forecast and actual costs, and forecast and actual benefits exist as part of a financial summary, not independently. They cannot be edited directly on the Financial Summary page, but authorized users can edit them on separate pages accessed from the financial summary.

When a proposal becomes a project and when a project becomes an asset, the same financial summary (not a copy) is carried forward across these three "lifecycle entities" for ease of tracking and comparison.

Note: When the same financial summary is used by multiple lifecycle entities, for example when a project uses the same financial summary as the proposal it succeeded, none of those lifecycle entities can be deleted.

Note: Based on your business needs, a workflow can be configured to create multiple projects from a single proposal at different workflow steps. In this case, the financial summary of each project created after the first one has no data. (You can create custom financial data for the various projects. For more information, see Financial Data Tables in Requests and, in particular, Financial Data Table for One or More Projects Created from a Proposal.)

For information about setting parameters in the server.conf configuration file to control the format used to enter currency amounts, see Configuring Numeric Display.

If the start period of a proposal or project that has not been started is adjusted, the forecast costs and benefits in the financial summary are adjusted accordingly.