Utilizing Markups

Objective: In this video and/or step by step walkthrough, you’ll learn about adding a markup on the estimate screen

Recap Section – Estimate Screen

Your Recap Section is at the very bottom of your Estimate Screen

If you do not see it, you may need to make it available using these steps:

  • Left click the Columns Icon
  • Make sure Cost Recap checkbox is enabled

Material Markups

  • Hover over the word Material in the first portion of the Recap section
  • Left click to open the Manage Markups for Material window

Markup Records Module

In this module you will see the Total Gross price in terms of material for this bid

Left click on Add Item in the Line Items box

Add Item

A line item has now been inserted with multiple fields

  • Left click in the Description field to give this markup a name
  • Click the drop-down under the Type section and choose one of the 3 markup options
  • Type a percent value in the Markup field

For this example, we have added:

  • Description: Shipping tax
  • Type: Percentage
  • Markup: 10

Click Cancel or the X to exit without saving or click Confirm and watch the Recap total change for the Material tax class

 

Recap Section

On the Estimate screen in the Recap section, 10% of the Gross Price has now been added as a Markup to the Material tax class

Delete Markup

  • Left click on Material to open the Markup Record
  • Click on the trash can icon to delete the markup
  • Hit Confirm

The gross price will now be back to its original value

Flat Amount Markup

Click on Material to open the Markup Records module

In this example we have added:

  • Description: Tax
  • Type: Flat Amount
  • Markup: 1000 (added directly to gross price)

Click Confirm to save your changes

Recap Total

When you return to the Estimate screen, the $1000 has been added to the recap total for this tax class

Labor Tax Class – Per Hour Markup

Left click on the word Labor in the Recap Section to open the Markup Records Module

Add Item

Click Add Item

For this example we have added:

  • Description: Per hour overhead
  • Type: Per Hour
  • Markup: 1

The markup value will multiply by the total hours to produce a dollar amount that will add to the recap total in our labor tax class, and reflected in the recap total

Overhead Markups

Left click on the word Overhead to open the Markup Records module

Add Overhead Item

Click Add Item

For this example we have added:

  • Description: Overhead
  • Type: Percentage
  • Markup: 10

By adding this item, 10% of the total gross price from all tax classes on this job will be added to the total cost of the job as overhead

Click Confirm to save changes

Profit Markups

Left click on the word Profit to open the Markup Records module

Add Profit Item

By default a Profit line item has already been created for you

For this example we have:

  • Description: Profit
  • Type: Percentage
  • Markup: 10

Once you make these changes, the Contract Amount will change to reflect them

Click Apply to save changes

Recap Section

Once you click Apply and return to the Estimate screen, the 10% shows up as a total in the Profit section and the Contract Amount is finalized reflecting Profit and the other markups

Contract Amount

Click on the word Profit to enter the Profit Information screen where you can make changes

By typing directly in the Contract Amount box you can influence the Percentage, Flat Amount or Per Hour rate

For this example, we have clicked inside the Contract Amount text box and entered 60000

The module will back-calculate and figure out what Percentage will account for the difference between Total Gross and the new desired Contract Amount

Click Apply to return to the Estimate screen where the Profit changes based on the back calculation. These changes are reflected in the Recap Section