Managing the Forecast Final Account in C-Link

This guide provides step-by-step instructions on how to manage the Forecast Final Account during the post-contract phase using C-Link.

Sections in this Article:

💼 Accessing the Forecast Final Account
📊 Updating Budgets and Tracking Financials
🔍 Analysing Project Success
🎥 Full Walkthrough Video

💼 Accessing the Forecast Final Account

As part of our post-contract video series, this guide will help you manage the financial aspects of your project after awarding contracts to subcontractors or contractors.

1. Navigating from the Project Dashboard:
   • From your project dashboard, select a specific project.
   • The Post-Contract section contains three key areas: Instructions and Variations, NCRs, and Forecast Final Account.
2. Accessing the Forecast Final Account:
   • You can access the Forecast Final Account from either the Instructions and Variations page, the NCRs page, or directly by clicking the View Forecast Final Account button.

📊 Updating Budgets and Tracking Financials

Once you access the Forecast Final Account, you can monitor and update your project’s financials as follows:

1. Budget Management:
   • The Forecast Final Account allows you to tweak and upload your budgets. These budgets are initially derived from your quotes and tender analysis during the procurement phase.
   • You can update your budgets to reflect any changes in project costs.
2. Automatic Data Integration:
   • The tool automatically pulls through the order values you’ve placed. For example, the value will appear here if you've placed an order for groundworks.
   • Variations are automatically added from your Instructions and Variations list, contributing to the total project cost.
   • Similarly, any Non-Conformance Reports (NCRs) issued will also be reflected. For instance, if you have NCRs totalling £750, this amount will be integrated into the forecast.
3. Real-Time Financial Overview:
   • The system adds together the order value, variations, and NCRs to give you a comprehensive total value, helping you monitor project and package success.

🔍 Analysing Project Success

The Forecast Final Account is a valuable tool for evaluating the financial health of your project:

1. Comparing Budget to Forecast:
   • You can easily compare your original budget against the forecasted totals. For example, if your budget for groundworks was £143,000 and you placed an order for £110,000, the tool will show you how close you are to your budget, accounting for any variations and NCRs.
   • This helps you manage your project’s financial performance throughout its lifecycle.
2. Automating CVR and Forecast Processes:
   • The tool automates the Cost-Value Reconciliation (CVR) and forecast final account processes, making it easier to track progress and share updates during project review meetings.
3. Project Profitability Insight:
   • By comparing your original budget to the forecast, you can determine if your project is likely to be profitable. For example, if your original budget was £207,000 and your forecast is £203,000, you are still on track to make a profit.

Summary ✅

This guide has explained how to manage the Forecast Final Account in C-Link, including updating budgets, tracking financials, and analysing project success. By following these steps, you can ensure accurate financial management throughout your project.

🎥 Full Walkthrough Video

For a comprehensive guide, watch the full walkthrough video below: