Contract Change Order - Financial Markups
Updated
Suggested Prior Reading
Contract Change Orders - Overview
Contract Change Order - Schedule of Values
Contract Change Orders - Financial Markups Overview
A Schedule of Values is setup for a Contract Change Order to outline the details of the change with the Owners/Architects (see Contract Change Order - Schedule of Values for more information). Financial Markups can be then be applied to the Contract Change Order - Schedule of Values to do things like:
- Apply Profit Markup
- Apply Overhead Markup (such as administrative, project management or other overhead)
- Calculate Taxes
Financial Markups automatically calculate and impact the display of the Schedule of Values.
Financial Markup Component
The Financial Markups is a component that displays on the Contract Change Order form during the:
- Add of a New Contract Change Order (see Contract Change Order - Financial Markups - Create - Layout and Navigation)
- Edit of an existing Contract Change Order (see Contract Change Order - Financial Markups - Maintain - Layout and Navigation)
Financial Markups can display as a separate column on each individual line item or as a total overall on the Contract Change Order or as a separate Line Item. One or multiple Financial Markups can be setup as required. See Financial Markup - Calculation and Display for more information.
Types of Financial Markups on a Contract Change Order and how they are setup
A Contract Change Order can have:
- Financial Markups manually setup that are specific to the Contract Change Order
- Financial Markups manually copied from a Contract (and then edited or deleted as required)
- Financial Markups automatically copied from a Change Request (if the System Administrator has turned on the option to do this).
Manually setup Financial Markups specific to the Contract Change Order
When adding a Contract Change Order or editing an existing one, the Financial Markups can be added, edited or deleted (as long as the Contract Change Order is in a Status that enables editing, see Contract Change Order - Status).
For manually setting up Financial Markups when adding a Contract Change Order, see Contract Change Order - Financial Markups - Create.
For manually maintaining Financial Markups when editing a Contract Change Order, see Contract Change Order - Financial Markups - Maintain.
Manually Copy Financial Markups from the Contract to the Contract Change Order
When adding a Contract Change Order or editing an existing one, and Financial Markups exist on the Contract, the Financial Markups can be copied from the Contract to the Contract Change Order.
The Financial Markups copied from the Contract can be edited or deleted.
For more information, see Contract Change Order - Financial Markups - Copy from Contract.
Financial Markups automatically copied from a Change Request
There is a System Administration Setting that dictates whether or not Financial Markups can be maintained on Change Requests. If this option is turned on:
- Financial Markups can be maintained on Change Requests:
- Then while view/editing an Approved Change Request, if the Change Request Line Items are created on a Contract Change Order, the Financial Markups from the Change Requests will be automatically copied to the Contract Change Order and applied just to those Line Items copied (however, they can still be deleted).
For more information, see Contract Change Order - Financial Markups - Copied from Change Requests.
Next Steps
Review overall how Financial Markups work, see Financial Markup - Overview.
Access and maintain the Contract Change Order Financial Markups, see Contract Change Order - Financial Markups - Accessing.
Maintain Contract Change Order Financial Markups, see Contract Change Order - Financial Markups - Maintaining for more information.
