Automatic costing - Costs Me - Costs Client
So, In the opportunity page it would be great if items could automatically fill in there direct costs to me within the cost column, instead of having to fill it in automatically. This feature would mainly be for events and hire companies although I'm sure it would have uses in other areas with a bit of simple tweaking, but for now here is an example of how I want it to work for my company.
If I created a sale item within my resources called "Black Expo Cord Carpet" and set it up to cost me £2.35 per square meter. I do not worry about stock because I will only order the amount I need for a specific job. I class it totally as a sale item in which can be used once and then is thrown away because its ruined. I know that I charge my client £3.35 per square meter for this carpet. If I could add this resource to my opportunity item list and have it automatically fill in the costing section as well, it would save me a lot of time and make the whole process far simpler!
For this example, the client needed 10 meters of the carpet for their stage.
I would expect the Item line to read "Black Expo Cord Carpet - Price £3.35 - Quantity 10 - Total price £35.50"
I would expect the costing section to read "Black Expo Cord Carpet - Price - £2.35 - Quantity 10 - Total Price £23.50"
This will produce an accurate profit margin for each opportunity, it would tell me exactly what direct costs there are to complete the work on things like sub sourced/contract equipment / materials. The other place I want it to work is with services, (it doesn't have to link directly with a service but its the same principle) I have all my freelancers listed as a service so I am able to assign them to a specific job. I charge the majority of my labor to my clients at £255 per day. I then pay my freelancers £180 per day to work on the job. Being able to split that cost automatically between what the client sees on a quote and filling my direct costings would save me a lot of time and mistakes.
With all of these ideas, I think that this will save me a lot of time in the long run, give me a incredibly accurate idea of direct costs without having to produce a separate budget sheet, keep all of the information in one place (I can also add any other costings already with the service that is currently in place).
Again, if some of this doesn't make sense, speak to Evan as I explained it to him during a demo
Progress is coming along nicely with our enhanced costing module. We hope to have something we can share with you all soon!
We’ll post all updates right here 📫
Harry Butcher commented
This would be a good feature (double good if implemented with a integrated PO feature, so I can ditch the spreadsheets all together)
This feature would also work where I know the sub rental cost of items which I have shortages for.
I add 4 lights, when we stock 3 but as the system knows I need to sub in 1 light, it can add that to the project costs without requiring me to manually enter it. I can then set the sub rent supplier which generates a PO for all the equipment required from that supplier.
As you are aware, Current allows you to synch up the revenue categories so that revenues can flow into QBO… Now, in regards to the rollout of this automatic costing feature, we need to make sure that when allocations made, the cost associated with it can directly be entered during the allocation so we are able to indicate what the cost category is. This will require the QBO integration to synch up expenses as well as revenues. Can you confirm that this use case is for sure documented within the scope of this upcoming rollout?
Jon Howard commented
As Gabriel said it's very similar with the one I posted, about assigning a cost to bookable resources. I think the main thing I want to see with an automatic costing, is that for both products and services to have a cost associated with them, especially any labor services. If I'm planning a show I want to know how much that show is going to cost me so I know how much I'm going to make. The internal operating cost is extremely important with not just items but services as well. I know we have fee's that can be added to items, but those fee's are external costs that get passed onto the customer, as opposed to internal costs that only we see. Something that helps you see expenses vs income is extremely helpful to any business.
I'm looking forward to seeing this in action!
Michael Berglund commented
It would be nice to add cost directly linked to a product. If you book a certain product in a opportunities, it automatically add a cost too it as well.
Ex, if you dry hire a rental car, and the rental car cost automatically add on the quote.
Or if you have a product that always have a cost every time you bring it out on a production.
Hope this is function is added soon.
Paul Muller, ALV Productions commented
YES - please link these.
Paul Muller, ALV Productions commented
Let's hope! Frankly I don't think this needs to be an overly complex feature - an MVP for me would be simple as adding a "cost per unit" (hour, day, week, meter - yes this would require Current RMS to add length and maybe area to the rate engine down the line) and then in addition to replacement cost adding a "acquisition cost" and then multiply one by the other.
I'd even be comfortable with "estimated cost/profit" because let's face it, the current profit number is useless if , like my team, you have to go back into Excel to generate the numbers - they wind up staying in Excel for the whole quoting process.
Neil Walker commented
Excited this is now "Planned" - Will be another really useful feature!
Josh Small commented
Two things, it must be able to have the ability to put in a "buy price" and markup for some items (sale) but also "buy price" and "sale price" for other items (rental normally). Being able to click re-calculate and have it bring in the "current" buy price for all items would be good too so when a client asks me to do the job again for the same price 6 months later, I can quickly check if my costs have gone up and whether I want to re-price.
This seems like the same wish as this...
Either way it would be brilliant!!
Tom Giddings commented
This could perhaps be most easily achieved by making use of the rates mechanism within products and services?
So, adding a new rate transaction type of 'buy' or similar, and this being checked and automatically added to an opportunity on adding an item.
This would mean if no 'buy' rate was set, existing behaviour would be retained for users who did not wish to use this functionality.
It would also be nice to select whether this entered the provisional or actual column, but really the main value is not having to manually enter opportunity item costs.
Eric Shalem commented
This is a feature I have been hoping for and is already on the wishlist with a lot more votes! here's a link to it so you can vote there and increase the odds of it getting done!
Jon Howard commented
Bookable resources can be allocated to a booked service. In many cases these resources cost the company money, whether it be labor or fuel.
I would like for the bookable resources to have a cost associated with them so that way when I allocate them it can count against the job as an opportunity cost. Say I have 2 techs, tech A costs me $20/hr and tech B costs me $30/hr. If I was to allocate tech A in the services view, I would like his $20/hr to be deducted as a cost to the opportunity or project.
When it gives me the predicted profit I would like for that to be a close estimate to what I could be expecting.
Id also like to see the abillity to print a PO when adding sub rental items
Tim Saunders commented
A percentage mark up would would be perfect. I could enter a cost to me then in a box add the percentage mark up I would like and the client see the end price on the quote.
Paulo Muenchrath commented
It would be great if one could add his actual sub rent costs to an allocation, wich would automaticly be added to the Opportunity costs.
If these costs would then also be added to a statistic in the depending resource, one could see quickly wich article should better be bought then sub rented to much.
Eric Shalem commented
This feature would be absolutely amazing! It would be especially helpful if costing was integrated with Crewing, Sub-rentals and delivery/shipping modules.
If I add a regular crew member I would love for his/her predetermined rate x hours or days to automatically be added to the cost.
For sub-rentals the cost could be input at the time the resource is added or have the ability to add sub-rental rates into the resource itself so that when you select sub-rental from the opportunities page it automatically adds the cost.
David Lancini commented
To add to this, the ability to enter the "cost to me" and the "cost to client" when adding a text item would also be very useful.
We add these text items when doing one off sales, or items we don't keep in stock and are sold to our clients.
This could be expanded upon, so you enter the "cost to me" figure, and then could use a percentage to markup, which is the client price.
Town Hall commented
I would also love a "prep time" cost. In each product page you give an average time it takes to prep and in setting you assign an average labor cost so that as you add items prep loabor costs are automatically added.
The lack of this feature is the the only reason we have not fully committed to Current. I have actually considered droping current for another software over this feature. I have to do everything twice in separate systems just to know if i made a budgeting mistake. PLEASE MAKE THIS ADDITION! Thanks!
Brian Dalphonse commented
I think this would be a MAJOR feature upgrade. The process of adding and item, and then having to add a cost against that item, is time consuming and inefficient. We currently use an excel spreadsheet to create proposals because it's easier to calculate profit/loss using that spreadsheet If Current could add the feature where costs are automatically populated, we could drop the Excel spreadsheet and have our remaining 8 users move fully to Current to create Quotes.