Project Costs

Project Costs

Project Cost Set Up   

The Cost function is a great tool for tracking a project's cost, from data capture to bill submission. Your project Costs can be attributed to their respective jobs, either by using actual item cost, or by using percentages. Keep in mind that, once entered, this data will be visible across multiple reports, so it's important to protect it in accordance with your internal policies.


ACTUAL COST OPTION FOR MATERIALS | EQUIPMENT | SPECIALTY ITEMS
The Price List will track actual costs by using the "Cost" column in the spreadsheet. This feature can be used by exporting the Price List to Excel, entering cost details, then importing it back into T&M Pro, which will convert it to a .bdata file.
Below are examples of Price Lists with actual Cost applied

Materials Cost


Equipment Cost


Specialty Items Cost  (Tarps)


COST AS PERCENTAGE OPTION FOR MATERIALS | EQUIPMENT | SPECIALTY ITEMS 

Alternatively, you can track your costs in the Project Settings File using the Percentage Function.

  1. Open the Cost Set Up Dialog - See image below
  2. Enter percentage values for Materials, Equipment and Specialty Items - See Example Below
  3. This method calculates your cost based on stated percentages rather than individual item costs.


APPLYING COST TO LABOR

Labor Cost is calculated based on Labor Class.

To set up Labor Cost:

  1. Under the Project Cost Set Up, Open the Labor Company Cost Set Up - See Image Below

  2. In the COST (LABOR) dialog, click ADD to open the Labor Company Setup dialog

  3. Enter the Company or Abbreviated Company Name that employs the Laborer

  4. Choose the Laborer's Class

  5. Assign the Regular Rate and the OT Rate Factor you are paying

  6. Repeat this process for every Labor Class and for every Company providing laborers for the project

  7. Each Labor input will post in the Cost Table as shown below

  8. Selecting "PR Rule as Billed" is recommended, as this will apply the same OT Rule you are using in the bill



Once you have entered all the relevant Labor Classes, you can now attribute the labor company to its respective laborer during input (see example below) and your Costs will be visible in your Project Cost Manager.




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