Estimating overview

updated

February 5, 2020

CoConstruct's Estimating tool lets you plan and price out your jobs in a way that's easy to use, flexible to fit your workflow, and fully integrated with the rest of your project management system.
 

Where to start

Accounting codes

The Estimating process in CoConstruct can begin in several different places, but before you start tracking any of your budgetary information, you need some accounting codes.

If you've been tracking your budgets in CoConstruct, you should already have these set up. Otherwise, learn more about what accounting codes are in CoConstruct and how to get them into place.

 

Fixed price projects only - Turn on estimates & job costing for your project

Whether you want to price out a fixed price job that's already in progress or a new prospect project that hasn't gone to contract, make sure you set "Estimates & Job Costing" to "On".


You can change this setting for existing projects by going to the Main Menu > click on the "i" info icon next to the desired project > "Edit project setup"

You can create an estimate on an Open Book or a Fixed Price job, and the free, unlimited Prospect Projects that come with many of our plans give you a great place to start an estimate in advance of the contract.

Estimates & job costing can be turned off at any point during the project, but be aware that certain pricing and allowance information may be lost if you turn this on after the project is already underway.

 

Configure your markup

While you're estimating, you'll be able to get into as much or as little detail as you'd like. This also means you can customize your markup.

Want to automatically add sales tax to all of your materials without adding any markup to your labor?

Want to change the markup amount or percentage for an individual line item, while leaving the rest of your Estimate in-tact?

It's all do-able with the advanced markup configuration tool of your Estimate.

 

Add items to your Estimate

Adding items to your estimate will help to build your selection sheet -- and vice versa!

Add new selections or specs directly from the Estimate tab of the Financials page. These will automatically show up on the Selections page.

Similarly, any selections or specs that you add to the project's selection sheet will automatically show up on the estimate. The Selections page has the nice formatting that will make it easy for your clients to view details and make choices, while your estimate gives you an easy-to-update spreadsheet-style interface.

You can also copy items from your selection templates to your estimate, giving you a quick way to load and tweak details that are common across several jobs.

What about things that you don't want to put on the selection sheet? You can always add estimate line items to the "Other Line Items" section if you don't want them to show up on your client's selection sheet.

 

After the Estimate

Once you have your Estimate fully fleshed out, congrats!

Use the "Generate Proposal" option at the bottom of your estimate, or in the top-right of your selection sheet to turn everything you've created into a contract-ready document.

If you've connected your project with QuickBooks, you can even export this estimate directly to your accounting system.

By finishing your estimate, remember that you've also got a detailed spec/selection sheet that's ready for your clients to use.

You can view all of the initial (estimated) budget details on the Budget tab of the Financials page, broken down by your accounting codes.

Then, as the project continues, your clients will be making selections and additional details will be fleshed out as you refine your budgets and pricing.

As the budget revises, you'll be able to keep track of all of that within your Budget. This will also be where you'll keep a tally of your actuals and track your profit or margin for the job.

You can return to the estimate at any point in time to estimate the budgetary impact of any change orders, or you can always update the relevant financial information from the Selections page or in the Budget tab.

No matter where you update these details, you'll see the changes reflected across the board.

 

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