On the SOV Progress page, you can track the progress of schedule of values (SOV).
The SOV Progress page is only available for agreements of type Subcontract with payment type Schedule of Values.
The following information is available for a period progress item:
Item Code - Name of the schedule of values (SOV) item.
Account Code - Optional, the account code assigned to the SOV item.
Activity Code - Optional, the activity code assigned to the SOV item.
Material Total - The estimated material cost. Material means those materials that enter directly into the end product, or that are used or consumed directly in connection with the furnishing of the end product or service.
Construction Equipment Total - The estimated cost for construction equipment.
Consumables Total - The estimated cost for the consumables.
Others Total - The estimated cost that could not be added to the material, construction equipment, or consumables totals.
Labor Total - The value of this field is calculated as Sum of Hours x Unit Rate for all labor details. To view and edit the labor details, click Details in the Labor Hours cell.
Overall Total - The sum of all total values. The total is calculated as: Material Total + Labor Total + Construction Equipment Total + Consumables Total + Others Total
Currency - The currency of the SOV item. In case the currency is different from the agreement currency, the specified currency conversion factor is used.
Forecasted Start - The date when the SOV item activity is expected to start.
Forecasted End - The date when the SOV item activity is expected to be completed
Expected Progress (%) - The expected progress in percent for this SOV item, based on forecasted start, forecasted end and actual date.
The expected progress is 0% if no forecasted start date or no forecasted end date are entered, or if the actual date lies before the forecasted start date.
The expected progress is 100% if the actual date lies after the forecasted end date.
If the actual date lies between the forecasted start and end date the expected progress is calculated on account of the actual date and the number of days required for this SOV item (formula: ((system date - start date) * 100) / days; days = forecasted end - forecasted start).
Actual End Date - The date when the SOV item activity is completed. This is, the date when the actual progress of 100% is reached.
Planned Hours - The estimated labor hours for this activity.
Actual Hours - The actual hours for this activity, calculated as sum of hours for all labor details.
Previous Actual Hours - The sum of actual hours already submitted over all previous periods.
Forecast Hours to Complete - Type the estimated number of remaining hours to complete this activity.
Period Hours - The period hours in percent are calculated as (actual hours/planned hours) x 100.
The calculated value might be greater than 100%.
COR Number - If the SOV item was requested by a change order request, the COR number is displayed.
Change Order Number - If the SOV item was created with a change order, the agreement number concatenated with / and the supplement number of the change order is displayed.
Previous Progress - The progress in percent until the last approval.
Once the period progress of a SOV item is approved, the period progress value is added to previous progress value.
Period Progress - Type the actual progress in percent for the SOV item activity for the ongoing period in the Period Progress cell.
The sum of cumulative progress (%) and period progress cannot exceed 100%.
Cumulative Progress (%) - The cumulative progress (%) displays the overall progress of the SOV item over all periods.
Period Completed Value - The period completed value is calculated as (period progress (%) x overall total). If you update this value, Period Progress, Cumulative Progress (%), and Total Value for Period will automatically be re-calculated.
Material Stored Value - Enter a value if you want to receive payment for the materials that you've delivered but not installed on-site.
This payment is considered by the calculation of Total Value for Period for future progress periods.
You can only enter a value if you entered a value in Material Total.
You can only enter a value up to material total during the first progress period. The value you can enter is decreased with every new progress by the amount which has already been paid for the material.
For example, let's assume a SOV item with material total of 2,000 USD, and other total of 8,000 USD. During the first period, you've entered a progress of 0%, and a material stored value of 2,000 USD. This means, the entire material is already delivered on-site but not yet installed. If you enter 100% as your progress, which means the SOV item is completed and you cannot enter any value in Material Stored Value. If you enter 10% as progress, can enter up to 1,800 USD as material stored value, and 200 USD is already part of Total Value for Period.
Total Value for Period - Total period progress value of the SOV item, calculated as period completed value + material stored value. This value might be less than the period completed value if you have entered material stored values in previous periods.
What do you want to do?