Items
      Back to home
      1. Knowledge Base
      2. Projects
      3. Items

      Items - Budget Amounts Section

      Using the Budget Feature

      Although you can enter a budget for each individual item, budgets are most commonly entered for either the first item in each room, or for the first item within the project. Users will commonly make a specific budget item that has a vendor called budget. This way it is always at the top of reports being ran.

      For example:

      Room Budget approach:

      Enter a Low Budget value for the first "Budget Item"  item in each room and, you might make the item 001 Component A.  You would only complete the Budget column in the Amounts section, no selling or purchase costs.

      When you view the Budget from the Item List (select View = Budget) only the first item will show the budget, but it will subtract the costs of all of the other items because they won’t have anything in the Budget column.  You can also view budgets in Reports | Project Worksheet Budget (2011).

      Note:  A 'Room' definition can be excluded from the budget.  The 'Exclude From Budget' check option found under 'Settings ->  'Rooms' -> Edit room details.  This will suppress items within this room from printing on reports when "Exclude From Budget" is selected in Rooms.

      Definitions:

      There are four (4) main areas in the amounts section of your item detail.  One area is for client 'Budget' details.  Some basic definitions to help you navigate the 'Budget' area of an item:

      • The Budget section is where your client’s budget amounts are entered.
      • The amounts in this section are referred to as Budget Amounts.
      Unit Cost:
      • The Low Budget Unit Price of the item you are budgeting for the client.
      • The High Budget Unit Price of the item you are budgeting for the client.
      Sub Total:
      • The Low Budget Sub Total is calculated by multiplying Budget Quantity times the Low Budget Unit Cost.
      • The High Budget Sub Total is calculated by multiplying Budget Quantity times the High Budget Unit Cost.
      Mark Up:

      • The Low Budget Mark Up % is used to calculate the Low Budget Mark Up.

      • The High Budget Mark Up % is used to calculate the High Budget Mark Up.

      • The Low Budget Mark Up is calculated by multiplying Mark Up % times the Low Budget Sub Total.

      • The High Budget Mark Up is calculated by multiplying the Mark Up % times the High Budget Sub Total.

      Total:

      • The Total Low Budget is calculated as the Low Budget Sub Total plus the Low Budget Mark Up.

      • The Total High Budget is calculated as the High Budget Sub Total plus the High Budget Mark Up.

      Other Costs:

      • The Other Costs Low Budget for this item.

      • The Other Costs High Budget for this item.

      Budget Profit:

      • The Budget Over Under is calculated as the Total Selling minus (-) Total Budget.