Estimate Item Details - Equipment Items

When Equipment Items are added to an estimate, they will have their own unique details form which will include special functionality to update cost rates based on the various durations (Hr, Day, Week, Month) or rental options.

Example Equipment Item

Description: Bobcat With One Smooth or Toothed Bucket
Quantity: 2
Units: Weeks
Note: Typical equipment units are Hours, Days, Weeks, Months.

Cost Rates:
Base Cost Rate = $640.00
Burden Cost Rate = $50.00
Total Cost Rate = $690.00
Note: Burden Cost could be for fuel or maintenance.

Proposal/Sell Rates:
Sell Rates appear on the Proposal and can either be equal to the Cost Rate or marked up by a percentage or dollar amount. The Sell Rate should never be lower than the Cost Rate.

Totals:
Total Cost = 2 Weeks * $690.00/Week = $1,380.00
Total Sell = 2 Weeks * $690.00/Week = $2,000.00

Rental Rate Information:
Daily Rate = $176.00
Weekly Rate = $640.00
Monthly Rate = $1920.00

Calculated Equipment Hours:

The estimate item's calculated equipment hours is based on the unit referenced. The formula that Corecon use internally for conversion is as follows.

  • 1 Hour = 1 Hour
  • 1 Day = 8 Hours (work hours)
  • 1 Week = 5 Days (work days) * 8 Hours = 40 Hours
  • 1 Month = 22 Days (work days) * 8 Hours = 176 Hours

Note: If the equipment unit is blank or doesn't match hours, days, weeks, or months then calculated equipment hours is set to zero (0).

Data Entry Steps To Update Equipment Items In An Estimate

  1. Within the Estimate, click the Estimate Items tab at the top.
  2. Optional: Select the Cost Code to filter the listing.
  3. Click the Special Filter drop-down shown to the right of Cost Code and select 'Equipment Items'.
  4. Navigate to the Estimate/Equipment Item that needs to be updated.
  5. Click the pencil icon to the left of the Item #.
  6. Review/Update the Equipment Description, Quantity and Unit.
  7. Optional: Click the magnifying glass icon next to the Unit field to switch units (ex. Hours, Days, Weeks, Months).
  8. Navigate to the 'Item Resource Units and Rates' tab.
  9. Review/Update the Equipment Conversion Factor, Unit, Base Cost, Burden Cost and Sell Rate per the Resource Unit.
    Sell Rate Note: As mentioned above, the Sell Rate appears on the Proposal and can either be equal to the Cost Rate or set higher using a percentage or dollar markup. The Sell Rate should never be lower than the Cost Rate.
  10. Click the 'Save And Close' to update the item.

Option 1: Edit Equipment Items in the Estimate Item Details Form

  1. See steps 1-5 above
  2. Click the 'Rental Rates' tab.
  3. Optional: Check the 'Rental' field.
  4. Optional: Review/Update Rates for Daily, Weekly or Monthly.
  5. Click the blue 'Set' button next to Daily, Weekly or Monthly.
  6. Review/Update the Item Quantity and Unit above because it may have been converted depending on which rental rate has been used.
  7. Click the 'Item Resource Units and Rates' tab.
  8. Review/Update the Equipment Conversion Factor, Unit, Base Cost, Burden Cost and Sell Rate per the Resource Unit.
    Sell Rate Note: As mentioned above, the Sell Rate appears on the Proposal and can either be equal to the Cost Rate or set higher using a percentage or dollar markup. The Sell Rate should never be lower than the Cost Rate.
  9. Click the 'Save And Close' to update the item.

Option 2: Edit Equipment Items in the Estimate Grid

  1. Within the Estimate, click the Estimate Items tab at the top.
  2. Optional: Select the Cost Code to filter the listing.
  3. Click the Special Filter drop-down shown to the right of Cost Code and select 'Equipment Items'.
  4. Select 'Equipment' for the View. This will determine which fields are shown in the grid and thus can be updated.
  5. Click the pencil icon to the right of the 'Global Changes' button shown above the grid.
  6. Review/Update the Item Description, Quanity and Unit.
  7. Review/Update the Equipment Conversion Factor, Unit, Base Cost, Burden Cost and Sell Rate per the Resource Unit.
    Sell Rate Note: As mentioned above, the Sell Rate appears on the Proposal and can either be equal to the Cost Rate or set higher using a percentage or dollar markup. The Sell Rate should never be lower than the Cost Rate.
  8. Click the 'Save' button in the form footer.

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