Estimating

This topic covers all the settings you use for Quotations and Estimating in QuickEasy BOS.

You can view Estimates as an extension of Transaction Items. If a Transaction Item is an Estimate type, it will contain the EST flag in the Type column.

QuickEasy's estimating includes two models

  • General Estimates - Users are able to Add Services and Items which updates a Description. The Items and Services that are added can be customised by the user. The Description is also customisable by the user.

  • Estimate Types - When using an Estimate Type, users are only able to edit the Input tab, which in turn generates a Description, Specification and adds the Items and Services. More on setting up Estimate Types here.

Settings and User Access

Estimating can be enabled at a Transaction Type level by checking the Estimating check box. Access to Estimates is set under User Access > Role Settings and User Settings.

Terminology and Definitions

  • Estimate: An estimate is the base-line costs for the job. It is the value needed to cover all your costs to carry out a job (direct and indirect) before making any profit.

  • Quote: A quote is estimate plus your markup. After you know how much it costs you to produce a job, you put your quote together, which is usually what you give your customer and ensures the business makes a profit and grows financially.

The Importance of Accurate Costing

When a prospective client walks through the doors and asks for a quote or an estimate to perform a job, giving them an accurate estimate is incredibly important. Here’s why.

  1. Competitive advantage: We understand how important it is to gain and maintain a competitive advantage in this economic climate. Your competition is fierce and your customer is well-informed; they know exactly what your competitors are offering, and there are several factors involved when deciding which supplier to choose - such as brand values, service, product quality and price.

  2. To make a profit: Keeping even the smallest margin on costs, or on profit, can be the difference between keeping your business’s doors open, or closing up shop.

  3. To not make a loss: That’s why accurate estimating is vital: Estimate too high and you stand the risk of losing the job to a cheaper supplier. Estimate too low and you lose money.