This article gives you a tour of the Costing & Analysis page that you find in each project. We'll go over what all of the numbers represent to give you the full value of this information.
This page right here is where SynkedUP shines. You can analyze your profit, the accuracy of your estimate, etc all without doing any extra data entry.
This information equips you to become better and better in your Estimates. It shows you where you did well and where you miscalculated.
Watch this video for a detailed explanation:
Overview:
Open up a job that you have completed. Click on the Costing & Analysis tab.
Price:
At the top of the page, you have 3 boxes labeled Price, Gross Profit, and Net Profit. Let's look at these first, starting with Price.
The top number represents the estimated price for the entire job.
The second number represents the amount you would have charged for the job if this job were Time & Materials.
The third number is the price you actually invoiced the Customer for, including your overrides.
Gross Profit:
The next box gives you your Gross Profit numbers.
The first number tells us the estimated Gross Profit.
The second number gives us the estimated Gross Profit in dollars.
The third number is the actual Gross Profit percentage of the entire job.
The fourth number tells us the Gross Profit we made in dollars.
Net Profit:
The next box gives you your Net Profit numbers.
The first number tells us the estimated Net Profit.
The second number gives us the estimated Net Profit in dollars.
The third number is the actual Net Profit percentage of the entire job.
The fourth number tells us the Net Profit we made in dollars.
Estimated and Actual by Class:
On the right side of our screen, we have two boxes: Estimated and Actual. We can use these two boxes to see how accurate the Estimate was in each category: Labor, Materials, Equipment, Subcontracting, Overhead, and Breakeven.
By default, these numbers reflect the entire job. But you can use the toggles at the top of the screen to filter out workareas, giving you the ability to see your numbers for one workarea at a time, and how they impacted the overall job.
Time Analysis:
The next section gives you insight into your project according to hours. Here you can see the total hours for your entire job as well for each workarea. The left column tells you the actual hours, according to the hours of all the timesheets you created for this job, while the right column tells you the hours you estimated it would take.
Item Analysis:
At the bottom of the Costing & Analysis screen, you get the most granular information. Here you can see how well your estimate corresponded to your actual job on the item level. Items that were actually used, but weren't estimated, appear in red. Items that were estimated but not used are shown in red. And items that were both estimated and used are shown in gray.
You can either view items for the entire job, or according to each workarea, by clicking on the tabs at the top.
Hopefully, that clarifies the Costing & Analysis screen for you!
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