Job Budgets

What is a Job Budget?  *

The job budget is the plan for labor and material charges for a job.  The Labor is measured in activities and hours; the material charges are measured in material cost and quantity used. Budgets are accessed through the Job Cost & Analysis Module and the Time & Payroll Module.

How do I access Job Budgets? *

To access Job Budgets, select from the menu Customers/Jobs/Budgets>Job Budgets.   The Job Budgets screen will open showing Jobs and Budget Summary. The Job list may be filtered by open or closed, and further filtered by time periods.

The Budget Summary displays the status information of the current Job Budget and includes Overhead such as G/A (General & Administrative) information as well as Revenue, Labor, Material, Gross Margin, Total Overhead, and Profit totals.

budgsum

Enter the Job Budget information or use the drop down menu button to select to Import from Spreadsheet, or Open: Load Template, Load Actual History (This Job), Load Actual History (Different Job), or Save: as Assembly, as Template.

How do I enter Job Budget information for the first time? *

When first using TracManager it may be helpful to skip making a budget right away.  Instead, start by simply tracking a Job.  The completed Job can then be converted backwards into a Budget.  After the Job has been completed, open Job Budgets and select the completed Job.  Select from the drop down menu Open: Load Actual History (This Job).  The Budget will be created based on the actual history of the completed Job.  This method gives a sense of how the labor breaks out into a Job.  The newly created Budget can then be saved as a Template for use future use.

What methods can I use to establish a Job Budget? *

Select from the menu Customers/Jobs/Budgets>Job Budgets.   Click to select a Job from the list; a Budget Summary will be displayed for the selected Job.

There are several ways to establish a Job Budget.

Manual Entry: Manually enter every line item.  However, this can be a very time consuming task.

        • If entering information manually, click Add to insert budgeted Line Items for Labor, Material, Assembly, or insert an Exploded Assembly.  (An Exploded Assembly imports all of the contents of a Product Assembly into the Budget and is only available with the Estimating Module.)  As Line Items are entered Overhead amounts will automatically be updated.  Choose to calculate Labor by Labor Cost Rate (rate per hour), or Labor Cost History (based upon history).  Enter Revenue, the amount being charged to the Customer, in the Revenue field to view projected totals.  Line Items can be deleted as needed.

add-to-budget

    • Click to select a line or click and drag the mouse to select multiple lines.  Once the information has been entered the Budget can be locked and unlocked by clicking on the padlock icon.

Use a Template: Use a Template with a list of items normally used.  Multiple Templates can be created for different types of Jobs.

If using a template, select from the drop down menu Open: Load Template.  Templates can be created for Jobs with items normally used.  Multiple Templates can be created for different types of Jobs.

Compare a similar Job: Load the actual job labor cost history from a similar Job into the Budget for the current Job.

If loading actual job history – Load Actual History (This Job): When first using TracManager it may be helpful to skip making a budget right away.  Instead, start by simply tracking a Job.  The Job can then be converted backwards into a Budget using the actual history of collected data.  After the Job has been completed, open Job Budgets and select the completed Job.  Select from the drop down menu Open: Load Actual History (This Job).  The Budget will be created based on the actual history of the completed Job.  This method gives a sense of how the labor breaks out into Job Costs.  The newly created Budget can then be saved as a Template for use future use.
If using actual similar job history – Use Actual History of Similar Job to create Budget: Load the actual job cost history from a similar Job into the Budget for the current Job.  Open Job Budgets and select the Job.  Select from the drop down menu Open: Load Actual History (Different Job).  Select from the list a similar Job.  The Budget will be created with entries based on the Job selected.

budget-convert-history

Import Budget: Import the Budget from an external Estimate, e.g., spreadsheet, CabnetVision (materials only or materials and labor)

If import the budget – Import the Budget from an external Estimate, e.g., spreadsheet, CabnetVision (materials only or materials and labor).  Open Job Budgets and select the Job.  Select from the drop down menu Import From Spreadsheet.

TracManager Estimates: If utilizing the Estimating Module TracManager will convert the Estimate into an Order, automatically creating a Budget for the Job.

 

If using TracManager Estimates (Estimating Module), TracManager will convert the Estimate into an Order, automatically creating a Budget for the Job.

How do I enter Job Budget information? *

Once a Template has been loaded, or data has been manually entered, the Budgeted Line Items can be edited as needed.  Not all cells can be edited from this screen, e.g., Cost and Quantity may be edited, but Descriptions may not. To edit the Cost or Quantity of a Line Item, click to select the appropriate cell and type in new value.  The changes will be saved, updating the Budget calculations.  Line Items can also be deleted as needed.  Click to select a line or click and drag the mouse to select multiple lines.  Click Delete and choose Delete: Selected Line, or All Items.

As Line Items are entered Overhead amounts will automatically be updated.  The Overhead Rate per hour is calculated by dividing the total number of Overhead dollars by the total number of direct labor hours for a given period.  The forecast Overhead Rate per hour is set by the Administrator in the Setup Wizard.

Release Materials to Job – This feature is used with the Materials & Inventory Module.

Choose to calculate Labor Cost by Labor Cost Rate (rate per hour) or Labor Cost History (based upon history).

Enter Revenue, the amount being charged to the Customer, in the Revenue field to view projected totals.

Once the information has been entered the Budget can be locked and unlocked by clicking on the padlock icon.  Locking the budget prevents accidental changes to the budget.

How do I create a new Template? *

Select from the menu Customers/Jobs/Budgets>Job Budgets.  Once a Job is completed the actual history of collected data can be converted into a Budget by selecting Open: Load Actual History (This Job).  Budgets can also be manually entered.  Once created, the Budget can be modified as desired.  Select Save As:  Save As a Template to save the Budget as a Template for future use on similar Jobs.  Enter the name for the Budget Template and click OK.

How do I Load a Template? *

Job Budgets that have been previously saved as Templates can be retrieved and selected to create or replace Job Budgets.  Templates are generally created for common type Budgets that are frequently used.  Loading a Budget Template for jobs that are similar can save time that may otherwise be allocated to creating the Budget items. After a Budget Template is loaded it may be changed as desired. The entire Budget (Labor & Material) is replaced when a Budget Template is loaded.

Select from the menu Customers/Jobs/Budgets>Job Budgets.  Select Open: Load Template.  Select the Budget Template from the list and click Close.   Quantities can be increased on each the line item by changing the multiplier factor.  Instead of changing quantities for duplicate products one at a time, use the multiplier to change line items for multiple quantities of the same product.

How do I Delete a Template? *

Select from the menu Customers/Jobs/Budgets>Job Budgets.  Select Open: Load Template.  Select the Budget Template from the list and click Delete.  A message box will appear allowing an opportunity to cancel the delete action.  Click Yes to delete or No to cancel.

How do I Rename a Template? *

Select from the menu Customers/Jobs/Budgets>Job Budgets.  Select Open: Load Template.  Select the Budget Template from the list and click Rename.  Enter the new name for the Template and click OK to save the change.

How do I print a Budget Summary? *

Select from the menu Customers/Jobs/Budgets>Job Budgets.   Click Print and select Budget Summary.  The Budget Summary report will be created for the selected Job.  The report can be printed or saved.

print-budget-sum

Other report types such as Budget Variance reports are created using the Report Center.