Labor Categories are set up under Inventory Items in the Configuration menu.
Inventory Items are most typically standard rates for various categories of labor that are used in both Estimating and Billing on Projects.
Inventory Items can be added from a dropdown to a cost code Assembly in a Project Estimate. This will pull in and use the Standard Estimate rate for the Item automatically.
On T&M Projects, the Standard Price rates are used for Billing in T&M Sheets.
The way Labor Catgories (Inventory Items) are used for your cost side of estimating a Project, the purpose of Master Pricing is for the price side.
These are default prices for common Items used frequently in projects. The most useful feature of Master Pricing is the ability not only to create a master list of Item Prices but to specify different Item Prices for specific Facilities.
When an Item Price is updated from Configuration, you are given the options to
A) Update the Item Price ONLY on the Master Item Price list,
B) Update the Item Price on all Facility Item Prices AND the Master Item Price list, or
C) Update only Item Price DETAILS (excludes amounts) on all Item Prices AND the Master Item Price list.
Just like Labor Categories, Master Prices are set up under Inventory Items.
1. Add a New Inventory Item
Follow the steps below to create new inventory items.
Steps:
From Configuration, locate "Master Inventory Items" (under the heading: Services)
Click the New (+) icon
Fill out the required information in the blank Item Cost form. Required fields designated by an asterisk
Enter a Title for the Inventory Item
Select the Element of Cost
Select the Unit of Measure
(Optional) Enter a detailed description for the item
If the Item will be Billable, check the box
Under Applicability of Unit Rates, enter Standard Price, Standard Cost, and Cost Estimate rates
Specify the Company Divisions where these rates can be used
Select any additional options that apply
Click "Save"
2. Edit an Master Inventory Item Cost
Once Inventory Items have been created, the information and rates can be updated if needed. If a Standard Price or Standard Cost rate has changed, for instance, you will want to update the Inventory Item (and consequently, the Labor Category) to reflect the change.
Steps:
From Configuration, locate "Master Inventory Items" (under the heading: Services)
Locate the Inventory Item Cost in the list
Click the tools icon
Click "Edit"
Update the necessary fields in the form
Click "Save"
3. Delete a Master Inventory Item
Existing Inventory Items (Labor Categories) can be deleted if needed. This will make them unavailable to be added to Project Estimates and T&M Sheets for Billing. Once an Inventory Item is deleted it cannot be recovered.
Steps:
From Configuration, locate "Master Inventory Items" (under the heading: Services)
Locate the Inventory Item that you wish to delete in the list
Click the tools icon
Click "Delete"
Confirm in pop up to complete the process of deleting the item.