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Frequent Explorer *

Estimate Screen Modification

I am looking to view the Profit Margin on an individual Estimate. The Current Estimate screen has a Column for "Cost", "Markup" and "Total" with a Subtotal of the Cost Column and a Markup Amount and a Total at the bottom of the Screen. 

 

I want my Estimators to be able to see the Profit Percentage Calculation at the bottom so they can make sure they are meeting Company Goals and not sending an Estimate that has less than approved Profit Percentage.

Is there a way to add this field? A better way to Review the Estimate, Etc.? 

8 Comments
QuickBooks Team

Re: Estimate Screen Modification

Hello there, @jfsmithsmith1274

 

Let me help share some information about adding a Profit Percentage on an estimate.

 

In QuickBooks Desktop, you can customize the fields of your estimate template. However, we don't have the option yet to calculate the Profit Percentage on an estimate just like the markup column. What we have is a report that displays the gross margin. You can go to the Reports menu then select Sales and click Sales by Item Summary.

 

 

Adding the profit margin would be a great addition, and we always encourage you to send your feedback so that we know the features or product improvements you want. You can send your feedback by clicking the Help menu on your QuickBooks. From there, select Send Feedback Online and click Product Suggestion.

 

 I'm going to send the same request over here on my side, so we're getting them through both employee and customer channels. 

 

Keep me posted if you have other questions about estimates. I'm here to help however I can.

Established Community Backer ***

Re: Estimate Screen Modification

You would make sure you are using Two Sided Items. The markup here on the estimate is part of Revenue projection.

 

Once you list the items, you run Estimate Vs Actuals reporting, and you can then deselect Actual Cost and Actual Revenue. That's how they "see" profit. Not on the Customer Quote. Run a Report. Please see my attachment.

Highlighted
Frequent Explorer *

Re: Estimate Screen Modification

Does not show Gross Profit For the Job

Frequent Explorer *

Re: Estimate Screen Modification

Thanks for your response, however, I am looking for Estimated Gross Profit by Project not Actual By Item. 

QuickBooks Team

Re: Estimate Screen Modification

Hello there, jfsmithsmith1274.


Thanks for the quick response. Allow me to join the conversation and provide some additional information about running the Estimated Gross Profit by Project report.


At this time, the option to automatically show the Estimated Gross Profit by Project is unavailable. As mentioned by @qbteachmt, you can run the Estimate Vs Actuals report and remove the Actual Cost and Actual Revenue column to see the profit


I’d still suggest sending your thoughts about adding the Estimated Gross Profit by Project  Report straight to our developers. Ideas like this are helpful in identifying the features our customers want the most for consideration in future enhancements.

 

To send feedback:

 

  1. Go to Help at the top menu bar.
  2. Choose  Send Feedback Online.
  3. Click on Product Suggestion.
  4. Click on the drop-down for Type of Feedback and select Product Suggestion.
  5. Select the Product Area.
  6. Then enter your thoughts and suggestions.
  7. Once done, select Send Feedback.

While you do that, I'll personally let them know about adding this report via feedback.

 

Add a comment below if I can provide any assistance while working in QuickBooks. I'll be here to help. Wishing you well.

Established Community Backer ***

Re: Estimate Screen Modification

I gave you how to do this, and Showed the report with all the columns: "I am looking for Estimated Gross Profit by Project"

 

Run either Est vs Actuals Summary or Est vs Actuals Dertails report. Customize it and remove from the Display tab the columns you Don't Want. It is that easy.

 

And if you use something to designate which jobs belong to which project managers, such as Job Type or Customer Type, you can set up these reports and filter on Job Type or Customer Type; retitle that report, such as "John Smith's Project Manager - Projected Profit" and Memorize it. Now John Smith, your manager, has the report in the Memorized Reports list. That's why you Memorize your own.

Frequent Explorer *

Re: Estimate Screen Modification

Maybe I calculate Estimated Gross Profit different than you do! See Attachment.

Established Community Backer ***

Re: Estimate Screen Modification

I would use the report I showed, customizing to keep what you need, and Export to Excel where you have a workpage for which types of activities need to meet which goals. QB reports will present the data, but are not great for analysis to targets or comparisons. I use Excel for this. Example:

 

You see the total for Services, which are typically set at the "retail" rate, already, as Price. Unless the scope of Work gets exceeded on a Bid or Fixed Fee contract, there is not typically a need to monitor Margin.

 

For Noninventory items, you might have these two-sided items set to 0 for Cost and Price, because they vary. That is an example where your estimator needs to Project likely purchase costs and a reasonable selling point, and you would want to compare to Expected Margin or Required profitability for that type of cost.

 

And, for Other Charge type items, such as Freight or Building Permits, there might never be any Markup or Profit.

 

So, you would take the report I show and Customize it, and filter on Only Noninventory, in my example here, then export that to Excel with the Lookup function where you already have documented "our requirement for margins or profit on these types of things."

 

That report is the Starting point.

 

The Estimate never includes Profit on it. It is your Source of the data, not the reporting analysis resulting from the data. It is Scope of Work and cost/price info.