The cost verification report, as the name implies, is primarily to validate or verify the costs in your proposal. It lists all the labor hours, material, travel and other direct costs, broken out by cost element (or labor resource group) first, then by indirect / direct cost type e.g. direct costs, fringe, overhead and G&A, and then by account group (labor vs. material vs. material-min) and finally by site or performing organization.

Click on the "Cost Verification" under the reports list to open this report. Select your proposal or type in all of part of the proposal number or description to search for it. Click on the > highlighted to select your proposal and then on OK to run the report

The first thing you will see are the hours, rates and cost, in both the source currency and your leading internal company currency, for the labor in each company or delivering organization. As well as the cost element description for each labor pool or group you can see the rate center, which is managed in your proposal as a custom tag.

This data is provided by fiscal year so that you can verify the labor rates for each resource-group for each fiscal year, and as a total for the whole proposal with essentially a blended rate calculation. The amounts or hours x rate converted to your leading internal company currency are subtotaled.

You cannot total up the amounts in the source currency as they can different from one labor pool to the next. For example if the first resource was priced at 100 USD/hr and the second resource at 75 EUR/hr then it would not make sense to add them up. This is why there are two amounts in this report

Below this you can see the total calculated fringe, overhead and G&A for all your labor groups, along with the indirect cost rates as a % in each fiscal year. While the total fringe, overhead and G&A cost are calculated for all years and blended rate is not calculated. Refer to the specific fiscal year columns to verify these indirect cost rates.

Note that the indirect costs will vary based on the labor pool/cost element and rate center in many cases, depending on how your costing sheet and indirect cost formula are set-up.

Below this you will see the same direct + indirect costs for other account groups such as material, material with minimum burden, travel, subcontract and other direct costs. As with labor, the direct costs are broken out by each cost element and the indirect costs for this company, rate center & account group combination are calculated as a single row of the report, at summary level.  You can use this information to verify not only the direct costs by the overhead (or purchasing burden as purchased material overheads are sometimes called) and G&A burden rates.

Refer to your implementation consultant to find out how account group codes are assigned to your accounts or cost elements during the data migration phase before you go-live with this new application

The total cost for labor, material, travel, subcontract and other, including all indirect costs, for this company, is displayed in the black bar at the bottom. Details for costs of your other companies or performance organizations are included on subsequent report pages.