Viewing a financial summary
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To effectively manage and track IT services, you will track the financial information related to a service. The IT Service Details window displays the financial summary related to a service. It displays the cost summary of planned cost, actual cost, and the resulting variance cost for providing a service, based on the cost models that you create and activate for the service. The Financial Summary tab also displays the consumption metric for the service, which shows the planned and actual usage of the service.
To display a financial summary, you must first create a cost model for the service and associate a consumption metrics to that cost model. The software uses the active cost model to calculate the cost information. If you have multiple cost models for your service, you can set only one cost model as active for a particular fiscal period. You can set multiple cost models to active for different fiscal periods within a fiscal range. For example, for a fiscal range of April 2009 to March 2010, you might have three cost models active: one from April 2009 to August 2009, another from September 2009 to January 2010, and the third from February 2010 to March 2010.
The Financial Summary tab displays the following tables for a business service:
- Cost Summary displays the allocated cost for each fiscal period that you specify in the associated cost model — specifically:
- Cost Model: Active cost models used in the calculation of financial data
- Planned Cost: Planned cost for the selected period
- Actual Cost: Actual cost for the selected period
- Variance: Difference between planned and actual cost
- Year To Date Total: Sum from start of fiscal period to current fiscal month. This column is displayed if you select the current year as the fiscal range.
- Total: Total for each row in the table
- Profit/Loss Summary displays the following information:
- Actual Profit/Loss: Difference between the actual revenue and actual cost
- Actual Revenue: Price for specified period multiplied by actual consumption for that period
- Actual Cost: Actual cost for the specified period
- Planned Profit/Loss: Difference between the planned revenue and planned cost
- Planned Revenue: Price for specified period multiplied by planned consumption for that period
- Planned Cost: Planned cost for the specified period
- Profit/Loss Variance: Difference between Actual Profit/Loss and Planned Profit/Loss
- Year to Date Total: Sum from start of fiscal period to current fiscal month. This column is displayed if you select the current year as the fiscal range.
- Total: Total for each row in the table
- Actual Profit/Loss: Difference between the actual revenue and actual cost
- Forecast Summary displays the following information:
- Monthly Planned Revenue: Price for specified period multiplied by planned consumption for that period
- Monthly Actual Revenue: Price for specified period multiplied by actual consumption for that period
- Variance: Difference between planned and actual revenue
- Year to Date Total: Sum from start of fiscal period to current fiscal month. This column is displayed if you select the current year as the fiscal range.
- Total: Total for each row in the table
- Unit Cost Summary displays the following information:
- Actual Unit Cost: Actual per-unit cost of the service, calculated by dividing the total expense for a fiscal period by the consumption for that fiscal period
- Total expense is the sum of depreciating and nondepreciating cost that is specified for the active cost models for the specified fiscal period.
- Consumption is the amount consumed for the fiscal period. The software uses the values that you specify in the consumption metrics added to the active cost models.
- Planned Unit Cost: Planned per-unit cost of the service
- Variance: Difference between planned and actual values
- Year to Date Average: Average value from start of the fiscal period to the current fiscal month. This column is displayed if you select the current year as the fiscal range.
- Actual Unit Cost: Actual per-unit cost of the service, calculated by dividing the total expense for a fiscal period by the consumption for that fiscal period
- Price Summary displays the following information:
- Price: Unit price per period that you specify in the related cost models
- Actual Unit Cost: Actual unit cost for the specified time period
- Variance: Difference between price and actual unit cost
Year to Date Average: Average value of actual unit cost from start of fiscal period to current fiscal month. This column is displayed if you select the current year as the fiscal range.
- Consumption Summary displays the service utilization data for the selected fiscal range — specifically:
- Consumption Metric: The consumption metric associated with the cost model for the selected time period. For more information about specifying consumption metrics, see Managing Service Utilization.
- Unit of Measure: Unit of measure used for specifying consumption metric data
- Planned Consumption: Planned consumption for each period
- Actual Consumption: Actual consumption for each period.
- Variance: Difference between planned and actual consumption
- Year to Date Average: Average value from start of fiscal period to current fiscal month. This column is displayed if you select the current year as the fiscal range.
The Financial Summary tab displays the following tables for a technical service:
- Cost Summary displays the total allocated expense for each fiscal period, which is the sum of depreciating and nondepreciating cost that you specify in the associated cost model — specifically:
- Cost Model: Active cost models for the service
- Planned Cost: Planned cost for the selected period
- Actual Cost: Actual cost for the selected period
- Variance: Difference between planned and actual cost
- Year To Date Total: Sum from start of fiscal period to current fiscal month. This column is displayed if you select the current year as the fiscal range.
- Total: Total for each row in the table
- Unit Cost Summary displays the same information as that displayed for a business service.
- Consumption Summary displays the same information as that displayed for a business service.
To view a financial summary