A Cost Estimate (CE) is a document from which a budget is prepared and presented to the client for approval. You can add and edit lines based on the requirements of the job. It is described as a cost sheet as it displays details not typically disclosed to the client (e.g. costs and markups). It forms the base from which the actual Client Cost Estimate is printed.
The term "Cost Sheet" and "Cost Estimates" are generally used interchangeably, however there is a slight difference, as follows:
- The Cost Sheet is for internal use, and is used to enter costing information for a job
- The Cost Estimate is the resulting document that is sent to the client.
The Cost sheet has 3 main sections namely: Header, Grid, and Summary.
Cost Sheet Header
Cost Sheet Grid
The Cost Sheet Grid focuses on the actual cost calculations.
The cost summary is explained in the field help section.
Cost Sheet Header
Cost Sheet Number
The CE number will automatically populate based on the configured document number sequence.
Click for quick access to the Job Bag.
This field populates from the Job Bag and is not editable.
|Product & Client||These are populated from the Job Bag and can be edited. For more details on changing the Client on a CE click here.|
Automatically populated with the detail from the Job Bag (combination of Product and Element). Can be modified while in Draft status.
By default, the Client Contact selected on the Job Bag will populate this field. An alternate contact can be selected.
The details section is aimed at providing a space where the Producer can elaborate on what the costing is for.
The document creation date. Can be altered using the date selector. Backdating a document is generally not recommended unless absolutely necessary.
The client's Purchase Order number can be entered on approval of the CE. It will be displayed on the resulting Tax Invoice. User rights can restrict when this can be edited.
The Status indicates the document's current point in its life cycle. The status options will include the following by default, but custom options may be added within Lookup Codes:
The %Billed field will indicate Part-Billed or Complete billed when a Tax Invoice is Issued.
Payment Terms are set to the default terms as configured on the Client Details page. These are carried through to the Tax Invoice on billing.
The person who created the document.
Cost Sheet Grid
Add Lines button
Allows you add line items to be estimated on the CE.
Manage Fee button
Toggle Full-screen view button
This button will Maximise or Minimise the grid. In the case where a large number of lines need to be managed, this makes the data easier to view.
Copy Selected button
This option will duplicate any selected lines, adding new rows to the bottom of the CE.
Delete Selected button
Allows you to delete selected line items.
The Delete Empty Lines option deletes all line items without an amount. Take caution, as this will delete lines that might be important, such as sub headings or sub totals.
The description of the line item. This indicates the type of work to be carried out and is useful for reporting.
Business units define the areas of focus within an agency, and determine reporting dimensions for line items. These can be set up based on any characteristic, such as location (eg. region or city), nature of business (eg. Activation or Digital), department, division, etc...
Enter the unit of measure for a cost by selecting from a list of unit types, e.g. hours, days or months.
Enter the quantity of the item to be provided.
Enter the unit cost for this line item. If a default rate has been defined in Chase, this rate will appear in the field.
Enter a markup percentage that will be applied to the cost to determine the price charged to the client. Editing of %Markup can be restricted with permissions. Work carried out by the agency will have an Internal %Markup.
Is aimed at providing a way to manage costs related to internal items quoted. Internal items are by default viewed as 100% income, but this line needs to cover the cost of having the internal resource available. This field can be restricted for editing with permissions.
The total estimated supplier cost, calculated as Units x @Cost. You can enter a Cost manually, in which case the @Cost will be recalculated.
Displays the profit value for the line item, based on the %Markup on the Cost.
Displays the amount to charge the Client before tax, calculated as the Cost + Margin.
Specify any line items that should not attract sales tax, for example tax exempt goods and services.
Displays amounts from captured Supplier Invoices related to the line item. Not editable.
|Est. Cost||Estimated cost for all external line items.|
|Ordered||Total value (and percentage of the total CE amount) of all external line items ordered with Purchase Orders for this CE.|
|Ext. Margin||Total margin value (and percentage of the total CE amount) of all external line items on this CE.|
|Internals||Total margin for all internal line items.|
|Total Margin||Sum of External Margin and Internals.|
Edit Exchange Rate button
This will open the Edit Exchange Rate pop up dialog where you can change the document currency and or currency exchange rate.