Jobs & costs
Estimate vs actual, committed costs and projected profit
How a job tracks real costs against its baseline.
Actual costs are costs incurred and recorded on the job, whether or not you have paid them yet: record each cost with its category, quantity, unit cost, date and vendor. The job compares them to the baseline by category.
Committed costs are amounts you've agreed to pay but haven't recorded as actual costs yet, such as a purchase order or subcontract. They are shown separately so you can see your exposure. Mark them fulfilled when done.
Forecast to complete is your estimate of every remaining cost, including open commitments not yet recorded as actual costs. Projected final cost = actual costs recorded + forecast to complete; open commitments are not added again on top. Projected profit compares that with the current contract value (baseline plus approved change orders) — calculated live, never stored separately.
Recording a job cost does not record a bill, a payment or a cash movement; in Financial Management, when enabled, those are separate records. When costs move, you can record a reason (WHY), such as price change, waste or scope not priced. Recording a reason does not close the job: formal closeout is a separate review and confirmation. Completed jobs can suggest learnings for future estimates.