There is a view into the financials on your Estimates that may have escaped your notice - the View Cost, Billable & Margins button. Please review this brief article for an overview of what you can see there.
Where will I see this button?
The View Cost, Billable & Margins button appears on any Estimate in your system, on the Services tab. Click the button to see information.
What information am I seeing?
You will see an on-screen summary of values that relate to the Estimate. These values are organized by Service Type - Internal Services (time trackable), Internal Expenses (items you have in stock and charge clients a flat fee for) and External Expenses (items you outsource to a third party, and charge a percentage mark-up for).
The values are further broken down by:
- Cost - The Estimated Hours (for Internal Services) or Units (for Internal Expenses) or Dollars (for External Expenses) x the Cost Rate if you estimate by Service, or x the Hourly Cost for the individual if you estimate by Staff.
- Billable - The Estimated Hours (for Internal Services) or Units (for Internal Expenses) or Dollars (for External Expenses) times the values on the selected Rate Category for that Service or Expense.
- Margin - Equal to the Billable $ minus the Cost $.
- Margin Percent - Margin $ divided by Billable $ and displayed as a percent value.
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