Add Adjustments to an Estimate

Background

You can add adjustments to your estimates by creating your own calculations for different pre and post-tax markups. Currently these adjustments are shown in the proposal, without an option to hide them.

Example

You want to tax the cost of materials only (not including profit) at 5%, you would create a pre-tax mark up with the following settings:

  • Type: Basic Calculation

  • Percent: 5

  • Application Criteria: Cost Type Includes Materials

You want to add 10% margin for the total final cost of the estimate, you would create a post-tax mark up with the following settings:

  • Type: Iterative Calculation Margin

  • Percent: 10

Things to Consider

Steps

  • Pre-Tax Markups

  • Post-Tax Markups

Pre-Tax Markups

  1. Navigate to the Bid Board or Portfolio Planning tool and select the project.
    OR
    Navigate to the project's Estimating tool and click the Estimating tab.

  2. Click the add Icon Plus icon for 'Pre-tax Markups' in the 'Summary' section.

  3. Enter the name of the markup.

  4. Select the type of mark up.

    • Lump Sum

    • Basic Calculation

    • Selective Compounding

    • Compounds All Above
      Note: You can decide which existing markups are compounded from by clicking and holding the reorder Icon Reorder Grip icon next to the existing mark up. Drag the existing mark up above this mark up to include it, or below to exclude from this mark up's calculation.

    • Legacy Discount
      Note: If available, the calculation is: (Total Sales + Overhead $) x -Discount %.

    • Legacy Overhead
      Note: If available, the calculation is: Overhead % x Total Sales, and is taxed based on the labor tax rate.

  5. Enter the amount or percent for the markup.

  6. If you selected 'Selective Compounding', select the markup you want the current mark up to compound from.

  7. For 'Cost Category', select how the markup should be taxed and summarized.
    Note: If you select 'All Categories,' tax rates are applied to the related cost types in the estimate. For example, the 'Labor Tax' rate is applied to all labor costs, and the 'Materials Tax' rate is applied to all materials costs.
    Estimating Tax Box

  8. Select the application criteria.

    • Select Applies to Entire Estimate to apply the markup to the entire estimate.

    • Select Apply to Specific Selections to apply the mark up to specific segments of your estimate.

      1. Select the segment.

        • Cost Code

        • Cost Type (Estimating Tool)

        • Cost Type (WBS)

        • Catalog Item Type

        • Group or Layer

        • Sub Job

        • Tag

      2. Select whether to Include or Exclude selected values for the segment.

      3. Select the values to which the mark up should be applied to, or excluded from.

      4. Click Add.

      5. Repeat steps a-c to create additional conditions to apply your mark up.

  9. Under 'Budget Mapping', select the cost code for the estimate's markup in your budget.

  10. Click Create.

 Tip

After you have added an adjustment, you can make the following changes by clicking the vertical ellipsis Icon Ellipsis Vertical for the adjustment.

  • Select Copy to copy the adjustment.

  • Select Edit to edit the adjustment.

  • Select Delete to delete the adjustment.

Post-Tax Markups

  1. Navigate to the Bid Board or Portfolio Planning tool and select the project.
    OR
    Navigate to the project's Estimating tool and click the Estimating tab.

  2. Click the add Icon Plus icon for 'Post-tax Markups' in the 'Summary' section.

  3. Enter the name of the markup.

  4. Select the type of mark up.

    • Lump Sum

    • Basic Calculation

    • Selective Compounding

    • Compounds All Above
      Note: You can decide which existing markups are compounded by clicking and holding the reorder Icon Reorder Grip icon next to the existing mark up. Drag the existing mark up above this mark up to include it, or below to exclude from this mark up's calculation.

    • Iterative Calculation Margin
      Note: You can only create this adjustment type once per estimate.

  5. Add the amount or percent for the markup.

  6. If you selected 'Selective Compounding', select the markup you want the current mark up to compound from.

  7. Optional: For 'Cost Category', select the cost category to see the mark up in summaries and reporting.
    Estimating Tax Box

  8. If available, select the application criteria.

    • Select Applies to Entire Estimate to apply the markup to the entire estimate.

    • Select Apply to Specific Selections to apply the mark up to specific segments of your estimate.

      1. Select the segment.

        • Cost Code

        • Cost Type (Estimating Tool)

        • Cost Type (WBS)

        • Catalog Item Type

        • Group or Layer

        • Sub Job

        • Tag

      2. Select whether to Include or Exclude selected values for the segment.

      3. Select the values to which the mark up should be applied to, or excluded from.

      4. Click Add.

      5. Repeat steps a-c to create additional conditions to apply your mark up.

  9. Under 'Budget Mapping', select the cost code for the estimate's markup in your budget.

  10. Click Create.

See Also

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