Please note that as of April 2024, ShotGrid has been renamed to Autodesk Flow Production Tracking.
WHAT IS FINANCIAL REPORTING?
Financial Reporting is a way for Show Side teams to report on the financial status of their project to Netflix VFX Title Management using Flow Production Tracking, similar to Status Reporting. However, this excludes status reporting captured during the Publish Report AMI. For instructions on Shot/Asset Importing in Flow Production Tracking, go here.
WHAT DATA DOES FINANCIAL REPORTING PROVIDE?
Financial Reporting provides Locked Budget, Cost Report, Projected Costs, and the variance across the Locked Budget, Cost Report and Projected Costs. This allows Netflix VFX Title Management and Show Side teams to gain a complete overview of the financial health, potential overages/savings, and areas of concern on a project.
WHERE DOES THE DATA COME FROM?
Netflix VFX Title Management will enter in Locked Budget and Cost Report figures and Reporting Parties in Projected Costs.
TABLE OF CONTENTS
Click on the RED link to jump to a specific section
WHERE TO BEGIN
FOR SERIES & FILM:
1. Sign in to Flow Production Tracking
2. Navigate to your PROJECT
3. Select the Summary tab from the far right navigation
4. Click the link under VFX Production Report Link
- NOTE: The currency that will be used is the set Base Currency
-
NOTE: Any field that has a pencil with a line through it is not an editable field and is being surfaced from another field or calculation
icon w/ blue highlight = Editable
icon = Not Editable
5. Navigate to the Financial Overview tab from the tab navigation
6. Your VFX Title Management team will be entering the Locked Budge and Cost Report Approved EFC numbers, which will be populated in the Locked Budget and Cost Report Approved EFC widgets at the top of the page
7. Confirm that no new Vendors need to be added; review the collapsed Vendors widget at the bottom of the page. NOTE: They will need to be named the same as they are on the Payment Schedule and in your status reporting
8. Go to the Projected Tax Incentives widget and click "Add Tax Incentive" for any applicable vendors
9. Fill in the following field in the form:
- Tax Incentive Name
10. Then add the following information into the fields for each Tax Incentive created:
- Tax Incentive % - Should be entered as a number (ex. 21.5% Tax Incentive, entered as 21.5)
- Location
- Description (Optional)
PAYMENT SCHEDULE
There will be a Payment Schedule for each project vendor, which will be completed in the contract currency. Follow the below steps to complete, and once the Contract Tracker is completed, follow the instructions on how to import data into Flow Production Tracking; go to ENTERING DATA
FOR SERIES & FILM:
1. ONLY fields in BLUE will be for manual entry; BLACK text fields are calculations
2. RED text means a TOTAL does not match
3. There will be one Payment Schedule per Vendor
4. To create a PDF from a tab:
- Click File/Print (or File/Download/PDF Document)
- Adjust page settings to fit one landscape page
- Save/Print PDF
FOR SERIES:
1. Go to the Document Summary tab and complete the Project Info at the top of the sheet and enter info in the following BLUE cells:
- Vendor Name: Full vendor name
- Vendor Reported Name: Vendor name in your database, this will need to match the name of the Vendor name entered into Flow Production Tracking to use Import Contract Costs from Contract Tracker functionality and should also check the vendor name used in Studio review submissions
- Vendor Territory: Location of facility
- Contract Currency: The local currency in the Award and Change Orders are going to be executed in
- Project Title: Name of show
- Season: Season #
- Episodes: # of Episodes
- Last Updated: Date of the most recent update
- Scope of Work: The type of work the Vendor will be performing, one-line high-level
2. Below the Project Info, four summary sections can be reviewed after you enter data on the Award and Change Order tabs
- Document Summary - Summarizes Award and Change Order data across the payment milestones
- Episode Summary - Summarizes Episodes data across the payment milestones
- Milestone Summary - Summarizes Award and Change Order data across the payment milestones
- Episode Split Detail - Summarizes Episodes across Assets, Shots, and Overhead
3. When you are ready to enter Award or Change Order data, navigate to the corresponding tab and go to the Document Detail section; for Award or Change Orders, the layout will be the same
- Add date in BLUE cell
- Enter data by Episode and Amort for Assets, Shots, and Overhead in the BLUE cells
4. After completing the Document Detail section, scroll down to the Payment Schedule section; this will apply to both Award and Change Order tabs. There is now the ability to use % values at the Document Level or Episode Level. Select the Assign Episode Detail checkbox to add at the Episode level
5. Enter the following data in the BLUE cells:
-
Scheduled Date: Date for each Milestone
- NOTE: Different Milestones can have duplicate dates (i.e., Signature of Contract for 101 and 102 can both be on 1/29/20)
- Milestone Notes: Short description of the Milestone
- Episode & Amort Percentage: across the Episodes or Document Level will need to total 100%; if it does not, the black percentages will turn RED
6. After the CO_# tabs, there is an Award Schedule PDF tab
- This tab is formatted for PDF export or printing, and it lists out all the payments for the Vendor and breaks it down by date, percentage, amount, and milestone for the Award
7. The last tab in the workbook is the Change Order Approval PDF series to be used once data has been entered on a CO_# tab. Following the instructions at the top, you can print off a PDF of this when you are ready to send a Change Order out for signature
-
You will need to complete the following cells highlighted in RED below:
- Contracting Entity: Name of the Entity contracting the Vendor
- VFX Producer: Name of VFX Producer
- Change Order: Select the corresponding CO # from the dropdown list
- Vendor: Vendor Name and Address
- Vendor Representative
- The remaining cells will pull from the data entered on the CO_# tab
FOR FILM:
1. Go to the Vendor - Pay Schedule tab and complete the Project Info at the top of the sheet
2. Enter info in the following BLUE fields:
- Vendor Name: Full vendor name
- Vendor Reported Name: Vendor name in your database; this will need to match the name of the Vendor name entered into Flow Production Tracking to use Import Contract Costs from Contract Tracker functionality and should also check the vendor name used for Studio review submissions
- Vendor Territory: Location of facility
- Contract Currency: The local currency in the Award and Change Orders are going to be executed in
- Project Title: Name of show
- Last Updated: Date of the most recent update
- Scope of Work: The type of work the Vendor will be performing, one-line high-level
3. Below the Project Info is the Document Summary section, which summarizes all the information from Award and Change Orders that will be entered in the following steps and is in local contract currency
4. When you are ready to enter Award or Change Order data, navigate to the Document Detail section below the Document Summary
- Enter the Scheduled Dates and Milestone Notes in the BLUE cells at the top
- Next, enter the total amounts for Assets, Shots, and/or Overhead in the BLUE cells below and to the left
- Then you will enter the percentage breakdown for each Payment (see example below). If the percentages don’t add up to 100%, the area highlighted in RED to the right will show the current %, and the summarized numbers in the below RED area will turn RED
5. When the time has come to Award and draft a long-form contract, go to the Contract Request Form tab. This information must be filled in accurately, as it helps our legal team get the contract out quickly
6. Complete the BLUE cells that are applicable:
- Contracting Entity
- From
- Date
- Vendor Legal Name
- Vendor Address
- Tax ID #
- Beneficiary Bank Info (section)
- Vendor Representative (section)
- Netflix Creative Rep
- Netflix Finance Rep
- Netflix Production Rep
- Netflix VFX Rep
- Rebate Language
- Rebate Territory
- Rebate Claimant
- Description of Work (section)
7. The Change Order Approval PDF tab is to be used when you are ready to send out a Change Order for signature
- To use this tab, you must first enter all the relevant information in the Vendor - Pay Schedule and Contract Request Form tabs. The data from those tabs will automatically pull into the Change Order Approval PDF tab
-
Then you will need to enter data in the following BLUE cells:
- VFX Producer
- Select the Change Order # from the dropdown
- Change Description
8. To see the Payment amounts in the Project Currency, you will need to enter data in the following BLUE cells. This will calculate the Payment amounts in the Project Currency on the right-hand side of the sheet
- Exchange Rate to Project Currency (i.e., Locked Exchange Rate for your project currency)
- Project Currency (i.e., USD)
9. The last tab in the workbook, Summary PDF, is the same as the Document Summary on the first tab, but with the ability to add overall project-level milestones, highlighted in BLUE. We ask that you enter the overall milestones on this tab and export them alongside any Change Order agreements to provide the context of prior contracts/future commitments
CONTRACT TRACKER
The Contract Tracker will collate all Payment Schedules for a project together and show them in the base currency; this information will then be pulled for the Import Contracted Costs from Contract Tracker if utilizing the AMI in Flow Production Tracking under Projected Vendor Costs (SERIES) / Shots & Assets (Vendor Costs) (FILM). For importing into Flow Production Tracking, go to ENTERING DATA.
FOR FILM & SERIES:
- NOTE: Your Netflix VFX Coordinator will add the Payment Schedule(s) URL to the bottom of the Contract Tracker; this will allow the Contract Tracker to surface all of the payment information previously entered
1. Enter the following Project Info at the top of the sheet
- Project Title
- Season (if Series)
- Base Currency
- Payment Schedule Start Date
2. The rate Globals / Contract Currency to Base Currency section will be based on the Contract Currencies that are being used on your Payment Schedule(s)
- For now, this is a manual entry, but future improvement will have it automatically update
3. The Vendor summary below will give you the ability to view all Vendor's work in the Base Currency across Assets, Shots, and Overhead and summarizes each month from the start of the Payment Schedule Start Date
- By changing the Payment Schedule Start Date in the Project Info at the top, it will slide the month columns as needed automatically
4. The Episode Detail section under the Vendor breaks down Vendor payments across Episodes in the Base Currency
5. The Document Detail section under the Episode Detail breaks down Vendor payments across Award and Change Orders in the Base Currency
ENTERING DATA
FOR SERIES & FILM:
1. Next, you will be adding and importing financial data into Flow Production Tracking from the sources noted above
REMINDER: If you are not using Payment Schedules and Contract Tracker, jump to Step #5 of this section
2. Navigate to the Projected Vendor Cost Detail widget, go to More, and select “Import Contracted Costs from Contract Tracker”; this will populate the “Contracted” field. NOTE: The latest Contract Tracker and Payment Schedules must be prepared before starting Financial Reporting if utilizing the Import Contracted Costs from Contract Tracker feature in Flow Production Tracking
3. The Import Preview will show the “CURRENT VALUES” and the “VALUES AFTER IMPORT,” which will reflect what is currently in Flow Production Tracking for “Contracted” and “Projected to Award” and what will be reflected after the import. The script will automatically reduce the Projected Award amount by the amount increased or decreased in the Contracted. The import process will also capture the Scope of Work by Vendor from the Contract Tracker and simultaneously populate Vendor records with any updates and changes. NOTE: A negative value is not wrong; it’s a flag
4. For each detail, you can add data to the following BLUE fields:
- Account #
- Projected to Award
- Tax Incentive - This will link to the appropriate Tax Incentive that was entered in the previous step
- If applicable, add COVID Costs; this will be discussed with your Netflix VFX Title Manager
- Description
5. To add manually add Cost Details, click the Add Cost Detail button and complete the “Link” (if applicable) and “Vendor” fields on the form, select “Create Cost Detail,” then you will add data into the fields reference in Step 4 above
6. The final section to update on this page will be the Project Non-Vendor Cost Detail. The Account Description for Cost Details can be as descriptive as needed
7. To manually add Non-Vendor/Overhead Cost Details, click the Add Cost Detail button and complete the "Link" (For Series Only) and “Account Description” fields on the form, and select “Create Cost Detail.”
8. Then you will add data into the following fields:
- Account #
- Committed
- Uncommitted
- Link to Tax Incentive (if applicable)
- If applicable, add COVID Costs; this will be discussed with your Netflix VFX Title Manager
- Description
EXPOSURE REPORT
The Exposure Report allows you to track exposure costs during Production as new shots, increased scope of work, decreased scope, or omitted shots. In addition, pending costs will be summarized on the Flow Production Tracking page as either Hot Cost Exposure or Potential Exposure.
FOR SERIES & FILM:
1. If using the Exposure Report sheet (your Netflix VFX Coordinator will provide), continue to Step 2; if you are manually adding Exposures to Flow Production Tracking, skip to Step 5
2. The Exposure Report sheet can be used as a running log, and when you import to Flow Production Tracking, it will only update with new Exposures added or changed. Fill in the following cells highlighted in RED below:
- Date
- Episode (Series Only)
- Sequence (Scene if not Sequenced)
- Exposure Category
- Description
- Type
- Tags
- Amount
- Status (Pending or Resolved)
3. Select the Exposure tab to the right of the Financial Overview tab from the tab navigation. The data that is entered in this widget doesn’t flow anywhere else in Financial Reporting
4. Go to More and select Import Exposures; follow the prompts on the screen to complete your import. Make sure that you grab the headers and all rows from the sheet when you copy into Flow Production Tracking
5. To add Exposure Details manually without importing, click the blue Add Exposure button and complete the following fields on the form:
- Exposure Id - this can be a number increasing with each Exposure Detail added
- Date
6. Add an Episode link (SERIES), Sequence, Exposure Category, Description, Type, and Amount for each detail created
7. Once data is imported or added, you will then need to update the Status as either “Pending” or “Resolved” For the status to be “Resolved,” the assumption is that the cost has gone away, was absorbed into the budget or is being bid as part of the cut. You may also add a Tag if discussed with your Netflix VFX Title Manager
8. The Exposure Summary widget to the right will summarize Total Hot Cost Exposure Pending as all costs classified as Type: Hot Cost and Total Potential Exposure Pending as all costs classified as Status: Pending
FINAL CHECK
Time for the final check to make sure all numbers are correct and appearing as expected
FOR SERIES:
1. Review the Projected Totals by Episode & Amort section at the bottom of the page; this gives you the variance between VFX Locked Budget and Projected Totals, and the important number to be aware of is the top line Variance Net (over)/under amount
2. Check your work using the Locked Budget, Cost Report Approved EFC, Projected Totals, and Potential (Overage)/Savings widgets at the top of the page; confirm that all numbers match with the key number being the "VFX Projected Variance to Cost Report EFC Net (Over)/Under" field at the bottom of the Potential Overages/Savings widget highlighted in RED below
3. Add context for the VFX Cost Report EFC to the “VFX Cost Report EFC Notes” field; please include the date at the beginning of your note
4. “Cost Report Link” field will be populated by Netflix VFX Coordinator
5. There are two additional fields to complete on the Status Overview tab under the Shot Count Summary widget
PUBLISH REPORT
Title Managers can now publish the latest VFX Production Report in Flow Production Tracking through an Action Menu Item (AMI) called Publish VFX Production Report to Studio. Once run, it will generate a Google Sheet version of the submitted report and create a snapshot of the report in Flow Production Tracking for historical comparisons.
FOR SERIES & FILM:
- NOTE: The Publish Report AMI is not just for Financial Reporting and would apply to the total Production Report (Status Reporting & Financial Reporting)
- Before your call with your Netflix VFX Title Manager and once Financial and Status Reporting are complete, go to the Report Overview widget on the Financial Overview tab. Then update the “Current Report Notes” field with anything that you’d like to have noted about the information entered
- Once your Netflix VFX Title Manager has run the “Publish VFX Production Report...” AMI in Flow Production Tracking, the Google Sheet will be available in the VFX “Weekly Report” folder on Google Drive
- The “Most Recent Published Report Date” field will populate with the latest Published VFX Production Report date
Congratulations, you’ve completed Financial Reporting using Flow Production Tracking! 🎉
A glossary of key terms can be found here.
FREQUENTLY ASKED QUESTIONS
Q: Should an Exposure number be entered as positive or negative?
A: It should always be entered as a negative number.
Q: What does the crossed-out pencil mean?
A: You are not able to edit that field; only fields with the pencil
Q: I have a question about Financial Reporting. Who do I ask?
A: Speak with your Netflix VFX Title Manager and/or Coordinator
Q: Why are some fields colored BLUE?
A: This indicates a field that needs to be manually updated
Q: I’ve updated numbers in another widget; how do I get the widget to update?
A: Hit the refresh button (circling arrows) on the right side of the header of the widget
Change Log:
2021/09/20: Updated "signing in" section.
2021/04/13: Updated for the new template being pushed 4/16
2020/12/15: Added new Publish Report section for AMI and template updates
2020/12/07: Added Payment Schedule, Contract Tracker, and Exposure Report Sheet documentation
2020/11/12: Added Locked Budget Detail and Cost Report Approved EFC Detail alternate steps if not tracking on project
2023/04/21: Added Glossary