Creating an estimate - rapid

Open: Estimating > Records > Enter New Estimate - Rapid.

1. Click Copy Existing to copy the details from an existing estimate, or enter the following estimate details:

   Due Date	Enter the date the estimate should be completed. This is the default date for the stages Estimating jobs involves breaking the jobs down into stages for accumulation and analysis of job costs. Each job must have at least one stage.. It is also used in MPS Master Production Schedule (MPS). The planning of production (usually end item production), to satisfy current and forecast sales orders. The sum of MPS items must equal the agreed sales and operations plan for the items over each planning period. Planning periods are normally a month or a four week period. Items planned within MPS are exploded by MRP (Materials Requirements Planning) to produce the material and capacity requirements. and MRP Materials Requirements Planning (MRP). MRP recommends purchase orders, transfers and work orders to balance supply and demand., and is carried over into the works order The authority to produce a part using the components specified on a BOM and the process specified on the routing. upon conversion.
   Quantity	Enter the number of finished items you want to manufacture. If you change the quantity at any stage, the quantities for each item are recalculated.
   No. of Pieces	Enter the number of individual items required for each finished item. If you change the number at any stage, the quantities for each item are recalculated.
   Estimate No.	Manufacturing automatically generates estimate numbers. To enter your own estimate numbers, clear the Automatic Estimate Numbers check box in the Estimate Settings Numbering tab. You can enter estimate numbers up to 30 digits using any alphanumeric sequence.
   A/C	If the estimate is for an existing customer/prospect, select the customer/prospect from the drop-down list. The address appears automatically. If the estimate is for a new customer/prospect, enter the customer/prospect reference. Note: You can only create estimates for base currency customers.
   Product Code	Select a product from the Product Code drop-down list. If the product has a description, the description appears automatically on the Invoice Description tab. The Invoice Description header changes to upper case to indicate there is text on the tab. Note: If you select a product that has a BOM A stock assembly and process costing system, which provides facilities to specify the structure of finished items in terms of sub-assemblies and components. defined, the BOM components Raw materials used to manufacture finished goods. and operations The labour, machine and tool processes required to manufacture an item. appear in the items list.
   Warehouse	Select a warehouse, set up for component supply in Stock Control, from the Warehouse drop-down list.

2. Enter the required information, according to the following descriptions.

   Type	Click in the Type box and select the type of transaction: STK (stock). NS Non Stock. Items which do not have a product record set up in Stock Control. Such items are usually bought for a specific job. (non-stock). OP (operations The labour, machine and tool processes required to manufacture an item.). EXP (expenses).
   Reference	Click in the Reference box to select a description from the drop-down list.
   Description	Enter the description for the item.
   Quantity	Enter the quantity required for this estimate. If you enter a quantity which does not match the unit of sale, the quantity is automatically adjusted to the nearest appropriate value.
   Cost Price	Enter the estimated cost price. Note: The default is cost+markup. However, if you selected a stock product Type, a Product Code and customer account in A/C and the customer has a selling price, the customer selling price is used instead.
   Total	Total cost is calculated as the quantity multiplied by the price. The calculation is done when you move out of the box. Use the Tab key to move out of the Total box to ensure that the total figure is calculated.
   Unit of Sale	If the item uses multiple units, click in the Unit of Sale box. Select an alternative from the drop-down list. Otherwise, the product unit is displayed.
   Stage	Each job for which you are preparing an estimate, can be broken down into stages Estimating jobs involves breaking the jobs down into stages for accumulation and analysis of job costs. Each job must have at least one stage.. Click in the Stage box, and select the stage, if it already exists, from the drop-down list. If it does not already exist, select NEW to create a new stage. Note: If you specified a Stage Reference and Stage Description in the Estimate Settings General tab, this stage is shown here by default.

   As you add information to the estimate, the Total Cost, Markup (%), Total Selling Price, Margin (%) and Profit are updated. Depending on your Costing Materials setting in the Estimate Settings General tab, you either manually update the markup %, selling price and margin (%) or update the values automatically.

• If you selected the Cost + Markup % Materials setting, then Markup (%) is calculated from the default specified in Estimate Settings. You can change this and you can enter a Total Selling Price, or you can enter a Margin (%) value.

  If you enter a Markup (%) and a Total Selling Price, then the Margin (%) value is calculated automatically.

  If you enter a Margin (%) value, the Markup (%) and Total Selling Price are calculated automatically.

• If you selected the Selling Price Materials, then the Selling Price is taken from the stock item record and the Markup (%) is calculated from that price. If you use multiple price bands, these are also taken into account and the Markup (%) and Selling Price amended.

  Note: You cannot amend the Markup (%) and Selling Price directly.

Whether or not you can make any changes to these values, depends on whether or not you have made changes to the stage values.

Manually amending the Markup (%), Selling Price or Margin (%) has the following effects:

• The amended value is highlighted.

Note: Highlighting only applies to the most recent manual change you have made.

• You cannot manually amend the values subsequently on the estimate stage until you recost the estimate and choose to discard the amendments.
3. To save your Estimate Details, click Save.
4. To continue entering another estimate, click Save and New.