Articles on: Estimates

How is the Estimate Price Calculated

On the create estimate page you have an option to directly add the service/product price manually or use the calculator.
If you use the "Calculator" option while estimating, the cost of an estimate is calculated automatically based on several pre setup factors like crew, equipment, markup %, etc.

The calculator offers Basic, Intermediate and Advanced automation options.



The Basic, Intermediate and Advanced options can overlap to help you create custom pricing system to meet your company's needs.

Note that besides the discussed factors, such factors as "On Site", "Travel", "Extra" time as well as added expenses influence the calculated price.

Chosen crew along with time settings make up the MH.
Chosen crew and equipment along with time settings, markup and overhead make up the MHR.

Let's discuss how to set the hourly rates, markup % and service overhead rate


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Hourly Rate for Crew



To set the hourly rate for a crew, expand the Personnel section, then click on HR and press Employee Roles.
Click on the "Pencil" icon next to the required employee role and in the pop-up window add/edit the "Cost per Hour" rate:



Hourly Rate for Equipment



To set the price for equipment, navigate to the Equipment Types section of the "Estimates" module, click on the "Pencil" icon next to the preferred equipment and in the pop-up window set the "Price per Hour":



Service Markup %



Set the service markup in the Services section of the "Estimates" module.
In this section, click on the "Pencil" icon next to the required service and in the pop-up window add or change the Markup %:



The markup % can be edited by the estimator while creating or editing an estimate situation-based from the "Markup" field.



Service Overhead Rate



You can edit the Service Overhead Rate in the company management module from the "Prices Management" section:



The service overhead rate can be edited by the estimator while creating or editing an estimate situation-based from the "Overhead" field.



Service and Product Price



If at your company services and products have set prices, you can set up service/product prices in the "Services" section.

To add a service/product price, navigate to the the Services section of the "Estimates" module, click on the "Pencil" icon next to the required service/product and in the pop-up window add/change the Cost:



After you add the service/product price, on the create estimate page the price will be added automatically when choosing the service/product.



You can still edit the price by using the calculator or manually.

Updated on: 26/01/2023