As you transition from a professional Estimate Rocket account to an enterprise Estimate Rocket account you will notice some new features.
The key transition elements between the professional and enterprise account can be seen here.
Best practice for quick setup of profit margins.
Add Ons and Project Costing (Painting) - The Estimate Rocket add ons were designed before the profit margin feature was available. In order to take advantage of the costing feature you will need to add a cost to the items that are added to a project. For the painting add on we do have a series of item templates that can be added to your account.
Painting Add On conversion to Assembly - This is a video on converting a single painting item (paint ceilings 2 coats) from the add on into an item for use with profitability.
Concrete Lift Add On - Add Costing - This video shows the steps to add costing to an that is output from using the concrete lifting add on.
Profit Margin - Profitability in Estimate Rocket allows you to see your Estimated Profit on every Job before even sending out the proposal and also to track the Profitability of your jobs in progress so that you can take actions before the job is even complete to address problems. Having actionable Job Progress information as the job progresses helps you to prevent problems before it’s too late to recover. After the fact job costing does not give the field crews anything that can help them when they need insight.
Within Estimate Rocket you have the ability to set the cost and price of your materials and labor. Every gallon of paint you might price to the customer at $80 but cost you $40. For every gallon you estimate will be needed will add $40 to your estimated margin. The expenses and hours will both be used in the calculation of the actual profit margin of a project.
Expenses - within projects the material and hours expenses can be tracked directly. The addition of expenses will also calculate, in conjunction with worked hours, an actual profit margin on a project.
Hours - With the addition of the profitability in Estimate Rocket the worked hours feature takes on new meaning. Worked hours add expenses to a project at the rate of total hours times average labor cost.
Profitability Report - The profit margin report is available after a project has been marked as completed. This report is a great tool for discussion on project that did not meet the projected margin, those projects will be highlighted in red in the profitability report. The estimator and project manager can discuss where things went wrong.
Expense Report - Now that expenses are being added to projects these can be reported on directly. Either use the view from the report page or download the CSV for other analysis.