Costing an estimate
You can recost estimates Forecast project costs, based on expected costs of labour, machinery and operation times. In Manufacturing, estimates are produced for one-off items or non-repetitive batches. if stock prices change.
Note: Changes made to an operation (either in the BOM or the Operations Register), after it was added to the estimate, are not taken into consideration during recosting.
How are the costs calculated?
- Stock item costs are calculated in the following way:
- Standard costed items are always costed using the standard cost price of the item.
- Bought items, when Built/Bought Default Bought is selected for BOM details in the Stock record Details tab, use the list price or last order price (depending on the pricing source) of the preferred supplier. If there is no preferred supplier, the average cost price is used instead.
- Built items are costed, using the Built Item Costing Source setting on the Estimate settings General tab.
- Labour and machine costs are calculated, using the latest rate from the resource or resource group chosen.
- Other expenses are calculated, using the latest charge rate on the estimate type record.
Note: Non-stock, setup, tooling and subcontract costs are not recosted.
To cost an estimate
Open: Estimating > Processing > Recost Estimate.
- Select the Estimate No. to recost from the drop-down list.
- Click OK.
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To recalculate the estimate cost, click Yes.
The estimate is recosted.
A confirmation message appears advising that existing costs will be overwritten.