When you add products to your catalog in Knowify, you are able to set both a price and/or cost of the item. The price would be how much you will charge your customers directly for the product, while the cost pertains to what the items cost you to purchase from a vendor.
When you are building your proposal/contract in Knowify, you have the option to either apply a markup to your estimated costs, or you can manually price out your line items.
- When you create your job in Professional Mode, Knowify will start you off in the Plan&Track section where you can estimate the material, labor, and/or subcontractor costs. Everything you enter in the Plan&Track section of the job, pertains to what the job will Cost you. When you create your proposal/contract, you have the option to import these job phases (where you entered the labor/materials budget in Plan&Track) as line items on your contract, which allows you to apply a markup % to your costs. This would be one way to price out the value of a line item, where the price of the materials is based on a markup percentage of the budgeted cost.
2. The other option is to manually add your items to the contract. When you add the items manually, by default Knowify brings in the sale/list price that you setup with the item in your catalog, and automatically calculates the markup between your cost and price. This would be a way to price out your items on the contract without a budget or markup (This is the default method for any job created in Simple/Advanced mode).
- For jobs in Advanced mode, you have the option to copy over the materials added on the contract into your Plan&Track section to be used for ordering materials and tracking cost. After the contract is made active, when you navigate to the Plan&Track section you’ll see a message giving you the option to import materials entered in the breakdown/bill of materials to be used in your budget:
After clicking to proceed, Knowify will automatically match the materials to the corresponding job phase and prompt you to save or make any additional changes:
