Item Window - Pricing Tab

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The third tab on the Item Window is the Pricing Tab. The Pricing Tab is predominantly devoted to the Pricing Grid which displays the appropriate style of cost and price as determined by the Show Selection.

 

item - pricing window

 

Show Selection:  The Show Selection has three options of pricing and cost information:

 

Estimate - Estimate is the default option and will display the total Estimated Cost and Price of the Components for each Component Type as they were entered on the Component Window.
Actual - When Actual is chosen, the Pricing Grid uses the Actual Cost of the Components as derived by the Vendor Invoices recorded.  The Actual Price is calculated by applying the pricing rules defined in the Project upon the Actual Costs rather than the Estimated Costs.
Billing - Billing will show the Estimate Costs for the Components but will display the future amount  left to invoice the Client as the Price column.

 

The Pricing Grid has the following columns:

 

Type: This column lists the six possible Component Types that may have been entered for an Item.

 

Cost: Depending on the Show Selection, this column shows either the Estimated or Actual Cost for each Component Type before any Markup or Sales Tax amounts are applied.

 

Profit: The Profit column shows how much Markup is to be added to the Cost for each Type.  This value is based on the Markup, Discount, or Fee percentage entered for Components of that Type.

 

Price: This column shows the anticipated selling price to the Client for each Component Type.  The Price is calculated as the sum of the Cost and the Profit columns when the Show Selection is set to Estimate or Actual.  When Billing is selected, the Price will display the remaining amount left to invoice the Client for the Component Type.

 

Sales Tax: The Sales Tax column displays the amount of tax added for each Type based on whether the Components are Taxable and the appropriate Tax percentages of the Sales Tax Code entered on the Project Window – Info Tab.

 

Total: This column shows the Total Price, including Markup and Sales Tax, that will be charged to the Client for each Type.

 

Budget: In this field you may enter the amount budgeted for the Item.  For example, if a client does not want to spend more than $5000.00 on a carpet, you can enter 5000.00 into this field.  Alternatively, the original Estimated Price of the Item can be entered for future comparison in case the calculated value is going to change due to cost changes or other factors.  The Budget Analysis Report will allow you to monitor the Budget versus the Estimated and Actual Prices of the Item.  Using the Budget is especially helpful when the Item is designated as Time Budget as described in the Item Window - Item Tab above.  The Time Budget Analysis Report allows you to monitor the total amount of billable Time Entries attached to the Item versus the Budget amount.

 

Budget Hours:  The Budget Hours is used to record the total number of hours of billable time allocated to the Item and are often used in conjunction with the Budget above.  As Time Entries are joined to the Item, the Budget Hours can be compared to total number of hours currently joined to the Item using the Time Budget Analysis Report.

 

For a full explanation of creating Time Entries in Design Manager, see Employee Time Billing.

 

Beneath the Pricing Grid is the Component Analysis Grid which displays the individual Components that comprise the information displayed in the Pricing Grid.  The Component Analysis Grid has the following columns:

 

Reference Number (#): The unique Reference Number of the Component.

 

Description: The Purchase Order Description of the Component.

 

Type: The user-assigned Component Type of the Component such as Merchandise, Freight, etc.

 

Estimated Cost (Est. Cost): The anticipated cost to purchase the Component from the Vendor.  The Estimated Cost is entered by the user on the Component Window.

 

Actual Cost (Act. Cost): The total cost from all Vendor Invoices recorded for the Component.

 

Estimated Price (Est. Price): Estimated Price is selling price to the Client for the Component based upon the Estimated Cost.

 

Billing Price: The remaining price to invoice the Client for the Component.

 

Actual Price (Act. Price): Actual Price is selling price to the Client for the Component based upon the  Actual Cost.