Contract - Financial Markups
Updated
Suggested Prior Reading
Contracts - Financial Markups Overview
A Schedule of Values is setup for a Contract to outline the details of the Contract with the Owners/Architects. See Contract - Schedule of Values for more information.
Financial Markups can be created that then automatically apply to the Contract - 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 once they are entered.
Financial Markups can display on each individual line item or as a total overall on the Contract. One or multiple Financial Markups can be setup as required. See Financial Markup - Overview for more information on how Financial Markups are used.
The Contract - Financial Markups can be entered/maintained:
- During the Add of a new Contract (see New Contracts)
OR
- During the edit of an existing Contract (see Contracts - View/Edit), if the Contract is in a status that enables editing. See Contracts - Status for more information.
Financial Markup Component
The Financial Markups is a component that displays on the Contract form during the add of a New Contract (see Contract – New - Form Layout and Navigation) or edit of an existing Contract (see Contract – View/Edit - Form Layout and Navigation).
For details on the Financial Markup component overall layout and Navigation, see Financial Markup - Navigation and Layout.
Changes Only
The Financial Markups created for a Contract can be set to apply to:
- The Contract
- Then there is the ability to copy all the Financial Markups for the Contract to any or all Change Orders and Change Requests (to enable easy setup of the same Financial Markups on the Contract and on the Change Orders and Change Requests)
- Only the Contract
- Then different Financial Markups or no Financial Markups could be setup for Change Orders and Change Requests
- Only Change Orders and Change Requests (and not the Contract)
When setting up Financial Markups for the Contract, there is an option to apply it to only the Changes i.e. Change Orders and Change Requests. If this is set, it wouldn't apply to the Contract, but can be easily copied to any or all Change Orders or Change Requests created.- This can be set manually during the add/edit of a Financial Markups OR
- The system will set it automatically if a Financial Markup is added for the Contract but the Contract is in a Status that does enable changes to the Contract.
For more information, see Financial Markup - Apply to Changes Only.
Next Steps
Review overall how Financial Markups work, see Financial Markup - Overview.
Review the layout and navigation of the Financial Markups component for a Contract, see Financial Markup - Navigation and Layout.
To add a Financial Markup, see Financial Markup - Add.
To edit an existing Financial Markups, see Financial Markup - Edit.
To delete a Financial Markup, see Financial Markup - Delete.
