To track Actual vs. Estimated costs in Knowify, you will need to use to Professional style of Job Costing. (To learn more about Job Costing styles, click here!)
To input a budget into the system, you’ll want to go to the Plan & Track section of the job:
When the Status shows Inactive, it means the values you are inputting are Budget Costs. You can start inputting these by adding job phases and inputting Materials, Labor, and Subcontractor budget (These need to be enabled):
Once you have the budgets in the system, you can press the “Make Active” button at the bottom of the screen to track actual costs. These are input through the Time, Purchases, and Bills modules.
When the plan is Active, you’ll see that there is no longer just budgets in Plan & Track, but also Cost to Date vs. the budget.
If you ever need to adjust the budget or add more phases to the plan, you can always press the “Amend” button at the bottom of the plan. Just make sure to make it active again to track the cost!
