Cost Schedule Settings

The Cost Schedule Business Markups each calculate progressively from the last total above it, at the bottom of the Cost Schedule. If you combine the Job Contingency % and or Business Overheads % in with the Management Fee (Profit Markup) %, then your Contract Total Business Markups will calculate differently (and to less) to when each has been entered separately as layed out in the Cost Schedule Settings Business Markups. We recommend entering each of your Business Markups separately for accurate cash flow tracking totals.


Business Markups


Custom Field
This is for setting up a custom business markup that isn't already covered in the rest of the business markup settings.

Job Contingency %
This allowance is for incidentals, unforeseen's, minor price rises and labour overrun.

Business Overheads %
This markup covers the running costs of your business. e.g. phones, car, electricity, office expenses, Bookkeeping, Accountant, etc.

Management Fee %

(Profit Markup)

This markup is for managing the job, business growth and profit.

Typically this allowance can be split with a Site Supervision work group to lower or hide a portion of your percentage (%) profit markup.


Q-Leave
This is used for Queensland only, it is a portable long service leave levy. Make sure you keep the premium settings updated to allow the correct fee in your quote. Note, this cost is GST free.

User Tips

If your amount is out slightly, see below.

1) Check the Cost Schedule Settings have been set with the correct Q-Leave % and Minimum Threshold amount.

2) It is common for the amount to be out slightly due to circular equation calculations. Please note, for this and other industry reasons, your business markups contingency % allowance should be covering minor amount differences in your quote or contract total.


QBCC Insurance
This is used for Queensland only. It is a Home Warranty Insurance premium table. SoloAssist will keep this updated with the latest premium tables available from QBCC. Make sure you select which premium table you need for the quote, either New Home Construction or Alterations / Additions.

User Tips

If your amount is out slightly, see below.

1) Check the Cost Schedule Settings have been set with the correct Number of Dwellings, Premium Type and Table.

2) It is common for the amount to be out slightly due to circular equation calculations. Please note, for this and other industry reasons, your business markups contingency % allowance should be covering minor amount differences in your quote or contract total.


Existing Property Cover Insurance
This Insurance allowance is for existing property damage or stolen goods.

Construction Works Insurance
This Insurance is for covering stolen or damage good of the construction works. This percentage applies to the Quote Sub Total at the bottom of the Cost Schedule. The SoloAssist Sample Template is default set to 0.35%.

Note: The below calculation is an estimate only.

Calculate the premium claim back percentage % per job

Calculation

Annual Premium Amount Paid (divided by) Contract Total (multiplied by) 100 = percentage % (divided by) Number of Jobs = % per job.


Example Equation

Premium = $2,500.00 for annual projected turnover of $1,000,000.00

Contract Total = $250,000.00

Annual Jobs = 4 x $250,000.00 = $1,000,000.00 (annual projected turnover)

Calculation: $2,500.00 (divided by) $250,000.00 (multiplied by) 100 = 1.0% (divided by) 4 = 0.25%

Construction Works Insurance = 0.25% of the Contract Total per job.


Note: You will need to substitute in your premium paid against your annual projected turnover to calculate the correct percentage allowance for your business per job. This percentage works as a variable ratio on each job to pay back the premium paid from each job.


Public Liability Insurance
The Insurance covers the public from getting hurt in a direct result of being on or coming in contact with works from the construction site. This percentage applies to the Quote Sub Total at the bottom of the Cost Schedule. The SoloAssist Sample Template is default set to 0.35%.

Note: The below calculation is an estimate only.

Calculate the premium claim back percentage % per job

Calculation

Annual Premium Amount Paid (divided by) Contract Total (multiplied by) 100 = percentage % (divided by) Number of Jobs = % per job.


Example Equation

Premium = $2,500.00 for annual projected turnover of $1,000,000.00

Contract Total = $250,000.00

Annual Jobs = 4 x $250,000.00 = $1,000,000.00 (annual projected turnover)

Equation: $2,500.00 (divided by) $250,000.00 (multiplied by) 100 = 1.0% (divided by) 4 = 0.25%


Note: Use your premium paid against your annual projected turnover to calculate the correct percentage allowance for your business per job. This percentage works as a variable ratio on each job to pay back the premium paid.


Labour


Labour Rates
Labour Rates are inclusive GST. They are used to setup Cost Schedule item Labour Costs and Hours. When setting up a Labour Cost or Hours equation, a calculator will popup with a selection of LR1, LR2, LR3 buttons, which will substitute in the set dollar Rate/hr into the SUM = equation. The LR1, LR2, LR3, Labour Rates are setup in the Cost Schedule Settings.

Workday
This setting helps calculate the number of day and hours a work task will take. It is used on a Cost Schedule Item Labour Hours to display the correct timeframe allowance to Install or carry out the task.

Work Cover
The Work Cover Insurance percentage (%) will apply on all Employee Labour in the Cost Schedule. It does not apply to Material Costs or Labour Costs marked as Sub Contractor (which show in green).

General


Columns
This allows you to turn the Cost Schedule columns On/Off for Material Cost, Labour Hours and Labour Cost.

Variations
This sets up your Variations Default Profit Markup %. When adding a new Variation it will default to this markup % but you can easily override it in the Variation set up.

Renumbering
This renumbers the Cost Schedule Work Groups and Items sequentially.

Contract Total Lock

This locks and unlocks the Contract Total to quote and run a job. By default, a new quote will always start unlocked. When your client has agreed and signed to the Contact Total, then Lock the Contact Total.


To learn more: See Cost Schedule ► Contract Total - Update Pricing, Display, Override, Lock, Unlock