Financial Setup

Financial Setup

Once your job has been set up, you next step is to imput your anticpated job costings. These values are used throughout the QicWorks program to calculate your job profitability.

Click on  Jobs  from the main menu, then click on  Job Management . Click on the  job number  hyperlink within the management table that you wish to view. Then select  Financial from the side Navigation menu. Click on Financial Setup from within the Cost Management menu.

Financial Setup

For ease of use and understanding we will break the financial setup screen into a number of cross sections.


A   Job Financial Setup Details: 

Contained in this table is:
General Information

   Field Name
   Function
    Job
   This is the Job's name
    Customer
   Name of the Customer this work is being undertaken for
    Job Owner
   The Staff member in charge of this Job
    Status
  The current status of this Job
    Progress
  The current percentage complete this Job is calculated at. For more information see: Job Progress

B  Print button
C   Edit icon for Setting Default Markup and Job Overhead Rates. For more information see: What is the difference between Job Markup and Job Overheads
D   Setup Summary: This is a 'rolled up'  overview of the job financials - based on time and costs. It comprises of the sum of both the quoted and rates works,  across Budget, Estimate, Quoted, Actual, Billable and Invoiced values but split by Resource, Material and Purchase spend
For details about what is Budget, Estimate, Quoted, Actual, Billable and Invoice values see: Key Words & Acronyms
For details about what comprises a Resource, Material or Purchase spend see: Cost Management
For details about Change Management see: Change Order

Quoted & Rates Tabs

Your Job Financals are then split into 2 seperate tabs. This in turn allows you to set your budget, estimate and quoted values for Quoted works and budget and estimate for Rate works.

Simply click on the required tab to complete setup.

A   Fixed Cost (Quoted) Setup Tab
B   Rates (Time & Cost) Setup Tab

Quoted Tab

Use the Quoted tab to enter your budget and estimated job costs. QicWorks will automatically calculate the Quoted Value for this works by multiplying your estimated value by your set markup. 
QicTips & Tricks
QicWorks uses your Job Markup, as set within your Job Financial Setup header, as a starting point. You can override the markup value at WBS line item level. QicWorks will then recalculate and update your overall Job Markup within the Job Financial Setup header.


A    Quoted Setup Summary:  This is a 'rolled up'  overview of the job financials - based on time and costs. It comprises of the sum of only the quoted component of works,  across Budget, Estimate, Quoted, Actual, Billable and Invoiced values but split by Resource, Material and Purchase spend.
B    Data Warnings & Alerts: This panel highlights any possible data problems such as missing or unapproved data, as well as any process warnings that Users should be aware off.
C Help Icon: Click to access page help.
D WBS Cost Summary: T his is an overview of the job financials for that specific child WBS node - based on time and costs. It comprises of the sum of only the quoted component of works,  across Budget, Estimate, Quoted, Actual, Billable and Invoiced values but split by Resource, Material and Purchase spend.
E Grand Total Bar: This bar autocalucates column values for cost and time.
F Control Buttons.

   Lock
   Lock your Job Financials to help track Change Management .
   Save
   Click to Save your enteries
   Cancel
   Any unsaved changes will not be saved, and you are returned to the Job Financial Overview screen.
For more information about Work Breakdown Structures (WBS) see: WBS Setup
QicTips & Tricks
Don't forget to hover over our help tooltips  for further information.

Rates Tab

Use the Rates tab to enter your budget and estimated job costs. 


A    Rates Setup Summary:  This is a 'rolled up'  overview of the job financials - based on time and costs. It comprises of the sum of only the rates component of works,  across Budget, Estimate, Quoted, Actual, Billable and Invoiced values but split by Resource, Material and Purchase spend
B    Data Warnings & Alerts: This panel highlights any possible data problems such as missing or unapproved data, as well as any process warnings that Users should be aware off
C   Help Icon: Click to access page help
D   WIP Toggle: Select how you wish to calculate your the rates component of works within the WIP. For more information on WIP see: Work In Progress (WIP)
E   WBS Cost Summary: This is an overview of the job financials for that specific child WBS node - based on time and costs. It comprises of the sum of only the rates component of works,  across Budget, Estimate, Quoted, Actual, Billable and Invoiced values but split by Resource, Material and Purchase spend 
E   Grand Total Bar: This bar autocalucates column values for cost and time
F   Control Buttons

   Lock
   Lock your Job Financials to help track Change Management .
   Save
   Click to Save your enteries
   Cancel
   Any unsaved changes will not be saved, and you are returned to the Job Financial Overview screen.
For more information about Work Breakdown Structures (WBS) see:  WBS Setup
QicTips & Tricks
Don't forget to hover over our help tooltips   for further information.





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