Budgets

One of the most important features within the JobTread application is the budget tool. From your initial estimates to tracking actual profits, this is where the magic happens. This article will act as a guide through the budget tool and will provide direction on how to best use it with your business.

Views

The Job Budget is packed full of valuable information that is organized into helpful views that you can leverage at various points during each phase of your job. Views are simply different visual representations of the same budget data. If you make a change in one view, the changes will be reflected in all other views if the columns are visible. 

Switch between each view by clicking the View Dropdown menu. While the initial default view is Estimating, a new default can be selected by choosing your desired view and clicking the gear icon to open the Budget View Settings menu and toggle the option to Use as my default on new budgets.

Create Saved Views

Click the gear icon next to the View Dropdown menu to open the Budget View Settings menu. Enter your view name, choose how you would like to group the cost items, and select which columns you would like to include in the view. Either select groups of columns by choosing a column category (i.e. estimating, cost, price, or profit) or select individual columns to display. Reorder the columns in your view by clicking the double-arrow symbol on the right of the column name and then drag it above or below another column name. 

Once you have made your selections, click Save As on the bottom of the menu to verify your saved view name and then click OK. You can now choose if you would like to share your view with others in your organization or keep it private. Your saved view will now appear in the “My Views” or “Shared Views” sections of the View Dropdown menu.

Custom View Options

You have several options to adjust how you view your budget: 

  • Click the inward-facing arrow icon to collapse all cost groups which will hide cost items. Or click the outward-facing arrow icon to expand all cost groups, which will show all cost items. If you have multiple levels of cost groups, click the expand or collapse buttons multiple times because it makes adjustments one level at a time.
  • Click the 4-corners box icon to view your budget in full screen mode to maximize visibility. Click this button again to exit full screen mode.
  • Expand or collapse all item descriptions by clicking the double arrow icon next to the “Description” column heading.


Estimating

The foundation of every budget are the estimated costs. These are the items you'll be paying for to complete the job, from materials, to labor, to other business expenses like permitting fees. Build out your estimate with the help of your catalog, a saved list of expenses.

Building a Budget

Add Cost Items and Cost Groups to your budget by clicking the corresponding buttons on the bottom, left of the budget. You can either select items and groups from your cost catalog or create new items and groups simply by typing in the text field. Add or edit cost item details by clicking directly on each cell and entering your text in the budget line. After editing, be sure to save or discard your changes!

Individual Cost Item/Cost Group Actions

Click the 3 small dots next to the cost item or cost group name to open a menu for that specific line item. Click Show Details to open a menu where you can make changes to the individual group or item. Move the cost item or cost group within your budget by clicking and holding your cursor while you drag the line before or after another item. Click Add Cost Item to add a new cost item beneath the selected line. Click Add Cost Group to add a new cost group beneath the selected line. Click Delete From Budget to remove the cost item or cost group from the budget. 

Mass Budget Actions

Make changes to multiple cost items or cost groups simultaneously using Mass Budget Items.  

  1. Mass select all cost items and cost groups in your budget by clicking the square checkbox on the top, left next to the “Name” column heading. Select all cost items in a cost group by clicking the square checkbox next to the cost group name. Or select multiple individual line items that you would like to edit. Items included in your selection are highlighted in green.
  2. Once you select the cost items, a Mass Budget Actions menu will appear. Use the toggles to choose if you would like to make the changes to the selected cost groups, cost items, or both. 
  3. Select the action you would like to take using the drop-down menu and enter action criteria.
  4. Click Apply Action to preview the changes in the budget. 
  5. Click Save Changes to apply and save the changes.

Pro tip: The Job Budget can be quickly navigated by using several keyboard shortcuts!

  • Tab = move right
  • Shift + Tab = move left
  • Enter = move down
  • Shift + Enter = move up
  • Option + Enter = Save Changes
  • Shift + / = Open Keyboard Shortcuts

Once you've built out your budget, you can use these items to issue Bid Requests, Vendor Orders, Customer Orders and other documents.


Creating Documents

In addition to estimate building, JobTread provides a set of cost documents that can be sent to customers and vendors. These documents are work agreements that automatically tie back into your budget. For example, you can send a customer your estimate and if they accept, the approved amount will appear back on your budget. See the list below for an explanation of these requests.

Bid request

As you're building a budget, you may have unknown costs where you need more clarity. Bid requests are a great way to collect this information from vendors, suppliers, and subcontractors. Learn more.

Customer order
After you've built your budget, send it over to the customer for approval. Learn more.
Customer invoice
Once you've agreed to terms and price with the customer, and maybe have completed a portion of the work, send invoices to the customer to collect payment. Learn more.
Vendor order
After you've signed an agreement with the customer and are ready to begin work, send orders to vendors, suppliers, subcontractors. Learn more.
Vendor bill
After vendors, suppliers, and subcontractors have fulfilled their orders, approve them for payment. Learn more.


Budget Management

Once your estimated budget is approved, utilize other budget views to review costs, track your cash flow, manage invoicing, and project your profits. Simply switch between each view by clicking the View Dropdown menu. Change your default view at anytime by opening your desired view and clicking the gear icon to open the Budget View Settings menu. Then toggle the option to Use as my default on new budgets.

The following views are automatically generated in each job budget.
*Remember: Views are simply different visual representations of the same budget data. If you make a change in one view, the changes will be reflected in all other views if the columns are visible.

Budget viewDescription
EstimatingDisplays all cost group and cost item details, quantities, and profit margins. This is a helpful view to use when building your initial budget. 
Estimating SimpleProvides a quick snapshot of the total costs you expect to incur, the total price you expect to charge your customer, and the total projected profit based on your estimations. It does not include specific line item data or quantities.
Line Item DetailsShows qualitative line item details including the description, cost type, and cost code. This view is helpful when editing descriptions and viewing line items by cost code.
Bid RequestsDisplays bid requests and statuses by line item for quick comparison, making it easy to select the best subs and suppliers for your job.
CostCompare your actual costs or expenses against your estimated and budgeted costs. Easily see the impact of overspending or underspending on a cost item by viewing your projected profit and remaining budget at any time. This is an ideal view for job costing.
InvoicingManage your accounts receivable (AR) by viewing the status of customer invoices and payments throughout the job to ensure you are collecting funding appropriately.
ProfitCompare your projected profit against your estimated profit to ensure you are meeting your target profit margin for the job. Visit this view throughout the job to course-correct and make adjustments to save your bottom line.
All ColumnsDisplays all possible columns of data that are available. It may be helpful to begin with this view if you would like to customize and save your own view. 


Budget Terminology

Hover over column headings in the budget to view description prompts directly in the job budget.


Cost Item Details

FieldDescriptionExample
TypeCost type.Materials
QuantityTotal number of the item. "Quantity" can be removed if the item is not quantity based.125
UnitUnit of measurement. "Unit" can be removed if item does not have a unit of measurement.each
Unit cost (and ext cost)Unit cost is the cost of the item. Ext cost is cost of all items (quantity * unit cost).$9.98
Unit price (and ext price)Unit price is the amount charged to the customer. Ext price is price of all items to the customer (quantity * unit price).$14.00
MarkupDifference between selling price and cost of goods of services.40.28%
MarginProfit margin divided by sales.28.71%
TaxableWill tax be charged on the item to the customer?Yes
Custom fieldsOther custom fields you've added to cost items through your catalog.-
NameA name to identify the costDrywall panel - 1/2 in
DescriptionAdditional notes, if needed.USG Sheetrock Ultralight
CodeCost code.09-250 Drywall