How to update your Budget
How to update your Budget in your SynkedUP account
Weston Zimmerman avatar
Written by Weston Zimmerman
Updated over a week ago

Here is a tutorial showing you how to update your budget numbers in your SynkedUP account. Budgeting is the foundation of "Knowing Your Numbers", so we encourage you to take the time to ensure you are entering numbers as accurately as possible.

You can access the budgeting tool that is shown in this video here:

During your Onboarding call, we went over your Company Budget and the numbers that you provided for us.

What if you forgot to add something in to one of those numbers?

No worries, you can make the changes yourself! I will go over that in this article and video.

Step by Step Instructions

Step 1:

Open your Company Budget tool here: This is the tool we used in your onboarding call as we dialed in your budget.

Step 2:

Move through each of the tabs, Sales, Labor, Materials, etc and fill in the info

Step 3:

When you are done entering all of your info, go into your SynkedUP account and click on Setup>System Setup>Budget Year.

Step 4:

When you are in the correct budget year, take the overhead recovery % values that the tool gave you and paste them in the Overhead column

And then take the Net Profit Margin % that the tool gave you and paste that value into the Profit column

Step 5:

Make sure to click SAVE in the top right of your screen.

Step 6:

The update project's items prices pop up will appear. You can decided if you want to:

  • Apply changes to only unsold Projects

  • Apply changes only to jobs created from here on out

Once you have decided how you want to apply those changes, click the blue Apply button.

Step 7:

Go update your labor item in your item catalog to ensure the cost is entered correctly and that your manhour price is dialed in.

Click in Item Catalog (under Setup) and find your Labor item, and click on it.

Enter the COST of your manhour that the budgeting tool gave you

Note: the budgeting tool will have automatically calculated the unbillable and overtime factors into the cost of the manhour, so you can leave those fields zeroed out in this screen

As long as you have your payroll taxes entered in the Overhead section of the budgeting tool, you can also leave the Labor Burden field at 0%.

If you didn't have the payroll taxes entered in your Overhead section of the budgeting tool, then enter a % for your labor burden costs. If you do not know what your labor burden cost or % is, then connect with whomever handles your payroll, and they'll be able to tell you. (It's usually in the 20% range)

That's it! So, from here on out, every time your create another Estimate or do anything else in your SynkedUP account, it will now be updated to match your budgeted numbers.

If you have any questions, please hit us up in the chat box.

Cheers! ๐Ÿฅ‚



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