System Setup Step 2 - Setting Up Your Budget in SynkedUP

Entering your Overhead Recovery info into your SynkedUP Budget

Weston Zimmerman avatar
Written by Weston Zimmerman
Updated over a week ago

Note- the article below shows you how to enter your markups in SynkedUP. To build a budget and determine those markups please see this article:

Setting up your budget is critical to successfully running any business, regardless of whether you are a one-man show or a 20 million dollar company. 

All we need to drive the SynkedUP engine is percentage multipliers for 4 classes: Labor, Materials, Equipment, & Subcontractors. It's literally only 2 fields for each of those classes, so 8 numbers.

But there is a process to getting those seemingly insignificant 8 numbers. It'll take a little leg work, but don't despair. This work will save you tons of time and stress later in the processes of your business's daily workflow. 


To find out what percentage multiplier you need to recover your overhead expenses, we need to know how much money your company has in overhead expenses in a year. We need a sum total dollar amount of all overhead expenses. This includes all things like your electric bills, office staff, owner's salary, marketing and advertising, your website, shop rent, vehicles, insurances, and possibly your equipment, depending on how you want to handle it.

Check this article out to figure out whether you want to bill for your equipment by the hour, or simply count it as an overhead expense.

We suggest looking at your past full year in business, adding up all your overhead expenses, and then projecting what your upcoming year's overhead expenses will look like. Once you have that number, send that to your onboarding support agent at SynkedUP, and we'll help you get that Overhead recovery percentage multiplier figured out.

What is NOT an Overhead Cost?

Any materials that are directly billed for on a job, or labor expenses from your guys that produce billable work (ie. foremen, crewmembers, service techs) or subcontractors that you pass the cost on directly to the customer, etc are not an overhead expense, those are billable items.

It's not unusual to need a little guidance through this step from your onboarding specialist at SynkedUP. Just reach out to us in the little blue chat box in the lower right corner, we'll be happy to help!

Once you have these Overhead Percentage Multiplier numbers pulled together, you can proceed to enter them into SynkedUP.

Step by Step:

Ok, let's set up your MORS budget!

Step 1:

Open System Setup from your blue sidebar menu and select a budget year, usually the current year.



Overhead Recovery:  In the overhead column, you will be entering the percentage multiplier needed for each class, to recover your company's overhead costs.  If you have not yet calculated these numbers, you'll need to use the MORS budget calculator to find your percentages.  If you have your numbers and are ready to enter them an example is shown below along with a screenshot example for guidance.

Step 2:

1. Enter your Labor Overhead Recovery percentage multiplier.
2. Enter your Equipment Overhead percentage multiplier.


If you are recovering your equipment in your labor overhead recovery, leave this a 0%.

3. Enter your Material Overhead Recovery percentage multiplier.
4. Enter your Subcontractor Overhead Recovery percentage multiplier.


If you do not use subs much, we recommend leaving this at 0%.

Step 3:

Now, apply your profit margin percentages.  Below are step-by-step instructions with a screenshot for your guidance.  Keep in mind, Profit Margin and Markup are not the same things.  

For example:

  •  Profit Margin:  Cost $100 x 50% Profit Margin = $200

  •  Profit Markup:  Cost $100 x 50% Markup = $150

  1. Enter your Profit Margin for Labor.

   2.  Enter your Profit Margin for Equipment.

   3.  Enter your Profit Margin for Materials.

   4.  Enter your Profit Margin for Subs.


Step 4:

Make sure you SAVE!!

Your Budget is DONE!!!  🙌

If you have any questions, please don't forget to use our chat box in the lower right-hand corner of your screen.  We will be more than happy to help you!

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