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Project Costing - Committed Cost

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edited Apr 12, 2021 9:21PM in Project Management 12 comments

Summary

Project Costing - Committed Cost

Content

Project Costing - Committed Cost - 

1. Once a requisition is raised it is reflected under Committed Cost.

2. Once the Purchase Order is created the Requisition amount is removed and the PO amount is reflected

3. Once an invoice is matched against that PO and imported into Project Cost, the PO amount from step 2 is reduced by the invoice amount.

 

Is this the correct order of events? If not please advise. 

Also If the PO amount is not reduced by the invoice amount what could be the issue regarding this?

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