Earned Valuations List

Setup required before use	Who can use it?	Where is it?
Activate Earned Valuation What is Earned Valuation?	Assistant project manager Project Manager Director Administrator System Administrator	Projects Menu > Earned Valuations List

Creating a valuation provides you with a snapshot of project information up to the date selected. If any of the project information is changed after the date is set, you will need to Refresh the data. 

1. Go to the Projects Menu > Earned Valuations.
2. Select New in the top toolbar.
3. On the General Tab select the valuation date.
4. Enter a description (recommendation is to enter the Month and Year e.g. June 2018 Valuation).
5. Save and Close .
6. Earned Valuations List will refresh to display the Project/Sub Project details that can be valued for the entered 'valuation date'.

It's important to include all chargeable transactions in your Valuation process. Click the Unallocated Costs button in the top toolbar to run this report. Transfer any unallocated cost the transactions to the correct Sub Projects. Learn more about this report in the Working with Unallocated costs topic.

Use this report to highlight any staff that have zero hours entered on their timesheet before the valuation date. The report will automatically apply the transaction date filter to this report for the active valuation period. 

Valuations can be entered within the following functions:

• Earned Valuations List - Where valuations periods are created, and valuations can be entered for multiple projects.
• Project > Earned Valuations Tab - Valuations can be entered for a single project and all linked sub projects.
• Sub Project > Earned Valuations Tab - Valuations can be entered for the single sub project only.

It is not mandatory for all sub projects to be valued. It is possible to enter a valuation for a certain percentage of sub projects, and leave the default earned value for the other sub projects.

Complete the following steps to enter a valuation in earned valuations list:

1. Apply the List filter 'Not valued projects I manage'.
2. Check the values - Fee types of Hourly/Cost Rates or Capped Rates. To check the valuation of these sub project rows:
   1. The 'Fee' column will be blank for these fee types.
   2. Compare the 'Invoiced' column to the 'Charges' column for each sub project.
   3. If there is a difference between the two values it can indicate that there is uninvoiced WIP on this sub project.
   4. Check if this WIP can be invoiced, if all the required project milestones have been reached.
   5. Refresh earned valuations list after creating any additional invoices.
3. Check the values - Fee Type of Fixed Fee or Percent of Project. Check the valuation of these sub project rows by:
   1. The 'Fee' column is populated for these fee types.
   2. Compare the 'Fee' column against the 'Invoiced' and 'Charges' columns for each sub project.
   3. If there is a difference between the Invoiced and Charges values, this indicates that there is uninvoiced WIP on the sub project.
   4. If the 'Fee' value of the sub project has not been reached, check if this WIP can be invoiced (if the sub project milestones have been reached).
   5. Refresh earned valuations list after creating any additional invoices.
4. Enter either the Earned value or % into the column for the sub project, and the Adjustment value is automatically calculated.
5. (Optional) If auto-complete is OFF, mark the sub project valuation as complete, using the complete button in the toolbar.
6. Save .
7. Repeat this for each Sub Project that requires a valuation.
8. Save before exiting the tab/function.
9. (Optional) Use the Notes tab to add any notes for your manager to review about why the valuation was added.

Users with Director or System Administrator access level can monitor the progress of all sub projects included in the valuation. The progress of all valuations is shown at the top of earned valuations list.

Example of the progress within a active valuation period.

Before completing a valuation period it is suggested that the manager:

1. Applies the list filter of 'Not valued'.
2. Check these sub projects to see if a valuation adjustment needs to be applied.

When all the sub projects have had earned valuation entered (as required), then the valuation can be completed. Select the Complete button in the top toolbar, to lock the valuation from any further changes being made.

A valuation can be marked as complete by users that have Director or System Administrator access.

By reopening the entire previous valuation you can refresh the 'Invoiced' and 'Changes' columns using the refresh button in the toolbar. This allows you to make adjustments to multiple sub project valuations, whilst viewing the latest valuation figures for the valuation period.

Reopen the valuation period:

1. Select the Previous Valuations Tab.
2. Double click the Valuation period that requires adjustment.
3. Select Reopen button in the toolbar.
4. Save and Close .
5. The list view now displays this valuation as the active valuation period.
6. Make the required valuation changes in the list.
7. Save the changes .
8. Mark the valuation period as 'Complete ', using the button in the toolbar.

Adjust a valuation entry in a completed period. This single sub project entry update can be done whilst another valuation period is active.

Complete the following steps:

1. Select the Previous Valuations Tab.
2. Double click the Valuation period that requires adjusting.
3. Select the Sub Projects Tab.
4. Highlight the Sub Project row that you want to update the earned valuation on.
5. Select Edit closed valuation line button in the toolbar.
6. Type the 'New Earned %' and 'New Earned Value'.
7. Type a note to describe a reason for this change. This note will be shown in the audit log.
8. Click Save.
9. Save and Close .

Earned Valuations List displays the valuations for the open period for all projects or sub projects where you are listed as either the Project Manager or Sub Project Manager. If you have Director, Administrator, or System Administrator access to Synergy, then all the Projects and Sub Projects for the active valuation period are shown, to allow the manager's to check the valuations for their staff members.

The list will be blank if there is no active valuation period for review, or if you are not attached to any Projects/Sub Projects as a Project Manager.

Use the screen filter to adjust what projects are shown for valuation in the list. The available filter options for all staff are:

1. All Projects I ManageValued and Not Valued rows are displayed in the list. Only Project or Sub Projects where you are listed as the Project Manager are shown.
2. Valued Projects I Manage Only rows marked as valued , where you are listed as the Project or Sub Project Manager are shown.
3. Not Valued Projects I Manage Only rows marked as not valued , where you are listed as the Project or Sub Project Manager are shown.

Extra filter options are available for Director, Administrator, and System Administrator access levels. These are:

1. AllAll rows both valued and not valued for the active valuation period are shown. The rows shown are for all project managers, and for all office locations.
2. Valued All rows that have been marked as completed will be shown. The rows shown are for all project managers, and all office locations which have been marked as valued .
3. Not Valued All rows that have not yet been valued will be shown. The rows shown are 'not valued' rows for all project managers, and all office locations.

View the previous valuations for a sub project

Each row displays the previous valuations button . Double click this button the List to view the current valuation, and any previous valuations that exist for the project/sub project. Adjustment of the Earned $ or % value is also allowed in this opened 'Earned Valuation' window for the Sub Project.

View a previous valuation period

In Earned Valuations List, select the Previous Valuations Tab. Double click a previous valuation period shown in the list to open it and view the details. Select the Sub Projects tab, to view the adjustments applied to each of the sub projects in this valuation period.

Use the 'Undo' button in the toolbar to remove any unsaved changes to the earned valuations tab on the Project or Sub Project tab.

Rows with unsaved changes are shown with the green save button . The green save button is shown on the right side of the row.

Use the 'Mark this sub project as valued' button in the toolbar, to change the indicator of the row from not valued to valued . How this feature is used depends on if the Auto-Complete feature in the toolbar is On or Off.

• Auto Complete ON - When the earned valuation for the sub project is updated, the valued indicator is automatically applied. Use the valued button to mark the sub project rows as reviewed when no changes are required.
• Auto Complete OFF - When the earned valuation is updated for the sub project, the row remains as 'not valued' . The changes to the valuation can be saved, to allow further review of the information by the project manager. Once the project manager has finished the review, they use this button in the toolbar to mark each sub project row manually as being reviewed and the valuation complete.

Use the 'Mark this sub project as not valued' button in the toolbar, to reset the valuation status of a Sub Project. The valued indicator will be removed, and reset to display the not valued indicator .

Any previously entered earned valuation adjustments will remain on the row. Make any further reviews/adjustments before marking the sub project as valued again for the period.

The Auto Complete button controls if the sub project row is automatically marked as complete when the earned value or percentage columns are adjusted. The Auto complete button is found in the toolbar.

• Auto Complete ONWhen On, if a sub project row is updated the valued indicator is automatically applied to the row. The advantage of enabling auto-complete is that the process of updating sub projects will require less mouse/keys to be used.
• Auto Complete OFFWhen Off, each of the Sub Project rows needs to be manually marked as having the valuation completed, using the mark as valued button in the toolbar. For example: If auto complete is Off, the user can adjust the earned value figures, but leave the row as not complete whilst they check some extra details about the sub project. After confirming the sub project details, the user would then mark the row as complete.

Use the refresh button to update the Projects and Sub Projects listed which have the sub project status of Active or On Hold applied. Also use the refresh button to see if new transactions have been entered or existing ones updated for the valuation period. This will ensure all transactions are included in the current valuation. 

Click the 'Show the Valuation Details' button in the top toolbar, to open the active valuation and view the details. Open the current valuation to change the description of the valuation or to delete the valuation.

If the valuation is deleted then all the valuations entered and saved for the current active valuation period will be lost. The valuation can be deleted when the status is shown as Open. Director or System Administrator access level users can delete a valuation.

Delete a valuation:

1. Select the View Valuation button in the top toolbar.
2. The current active valuation will open.
3. Select Delete button in the toolbar.
4. Click Yes, to confirm the deletion.
5. The list will refresh to show that there are no open valuations to process, as the current valuation was removed.

1. ValuedA checkmark is shown if a valuation has been entered. If the Sub Project has not been valued the following image is shown.
2. Project #The project number and reference name is shown. The project is shown if it has a Sub Project that is at Active, or On Hold status. Double click the project number/name shown in green to open the project.
3. Sub ProjectThe name of the Sub Project is shown. The Sub Project is listed if the status is Active, or on Hold. If the sub project has another status applied (Proposal, Pending Invoice, Unsuccessful, or Complete) it will not be shown for applying an earned valuation. The column is shown only on the Project > Earned Valuations tab, and is not shown on the Sub Project Earned Valuations Tab. Double click the Sub Project name shown in green to open the Sub Project.
4. ManagerThe Project Manager assigned to the Sub Project is displayed.
5. FeeThe Agreed Fee value for the Sub Project is shown. Agreed Fee values are only stored if the sub project fee type is 'Fixed Fee', 'Percent of Project'.or 'Capped Rates'. For all other Sub Project Fee Types this column will be blank.
6. Inv %If the Sub Project fee type is 'Fixed Fee', 'Percent of Project', or 'Capped Billing, then this displays the percentage of the Fee value which as been invoiced to the client as at the valuation date. If the Sub Project has any other fee type assigned, then this is the percentage of the total charged value that has been invoiced to the client.
7. InvoicedThis is the total value invoiced to the client for the Sub Project as at the valuation date. If credit notes have been raised for the Sub Project, the value shown takes into account the credit note value.
8. Chr%The column is populated if the Fee Type of the Sub Project is 'Fixed Fee' or 'Percent of Project' or 'Capped Rates'. This displays the percentage of the total charged value (Charges column) that has been invoiced to the client. If no transactions have been allocated to the Sub Project, or if it was created using another Sub Project Fee Type then this column will be blank.
9. ChargesThe total value of the transactions assigned to the Sub Project up to the valuation date. This is the same total shown for the Sub Project on the Time and Expenses tab in the 'Chg. Value' column, as the total value of all timesheet transactions and expenses attached to the Sub Project.
10. Ern%Update the earned value for the period to be more/less than the invoiced value. This column shown in grey to be available for data entry if the Sub Project fee type is 'Fixed Fee', 'Percent of Project', or 'Capped Rates'. The value shown defaults to the 'Inv%', and can be over-typed to update the 'Earned' column automatically when 'Auto Complete' is turned on. For all other sub project fee types this column is not available. After updating this field the sub project will display the valued checkmark automatically.
11. EarnedUpdate the earned value of the sub project to be more/less than the current invoiced value. Type into this field the new earned value for the period, and the adjustment for the sub project will be automatically calculated. This field is available for all sub project fee types. After updating this field the sub project will display the valued checkmark automatically
12. AdjustmentThe adjustment column is populated when either the 'Ern%' or 'Earned' columns have been used. This value shown is the difference between the invoiced value and the earned valuation for the period.
13. Previous ValuationDouble click the icon to view the current valuation, and any previous valuations for the Sub Project row.
14. Unsaved ChangesThe green save icon is shown if the Earned valuation values have been adjusted and not saved for the Sub Project. Click the save button or before exiting the tab to keep changes made to the valuation.

1. Valuation DateWhen creating a new valuation the valuation date is selected. Based on this date the earned valuations for the period will be generated to include the charge values for transactions and invoice values which exist up to and including the selected date.

2. DescriptionEnter a description of the valuation period which can be seen in the 'previous valuations' tab. Recommendation is to enter the Month and Year e.g. June 2018 Valuation. 

1. NoteThe text of the note for the valuation period is shown. If the full text cannot be seen either hover the mouse over the note, or double click the note to open it and read the details.
2. Linked ToThe linked to column will display the text '1 item'. Within earned valuations it is not possible to link a note to additional items. The note once created is automatically linked to the open valuation.
3. ByThe user name who created the note, and the date and time the note was created is shown.
4. RemindersWhen a reminder has been set on the note to complete some follow-up work, this column will be populated. Learn more about how to use Reminders on notes.
5. LinksIf document links have been added to the note this field will display the attachment icon. Learn more about how to use Document Links on notes.

1. Valuation DateThe date selected when creating the valuation is shown. This was entered onto the General tab of the valuation.
2. DescriptionThe description entered onto the General Tab of the created valuation period is shown.

1. DateThe date the change to the valuation was made.
2. UserThe username that made the change is shown.
3. ChangesThe changes to the sub project are tracked. The Sub Project Name, Earned % and Earned values are shown from before and after the change was made. If the user entered a note when making this change, the note details are also shown.