In the transition from the Professional to Enterprise version of Estimate Rocket some key changes will be apparent on the project detail screen.  The project detail screen will have 2 new sections, one for profitability that appears between the document buttons and the line items and an expense section further down between the payments and hours sections.

The profitability section in the project detail will show a summarized calculation of the estimated labor and materials and the profit margin for both combined. Once the expense are used it will also show the actual labor and materials expenses compared to the estimate expenses. The different between the labor and material price to the customer the labor and material cost you have paid will give you the overall profit margin.

There will also be an expense section in the estimate detail between the payments and hours section to allow for expense entry (materials or labor) that will calculate the actual profit margin and feed the new expense report.

There are also 2 new reports; a profitability report and an expense report.

To see a list of the key new features check out this help page.

Best practices for a fast start using profitability

As part of the transition your default labor cost will be set to $30 per hour. This default labor cost will effectively build in a profit margin into your projects immediately after the transition that are using an Estimate Rocket labor item. Because the same labor is typically used in a large percent of the items the labor cost and price this is a great head start to get the profit margin on you projects. Take a moment to double check your labor prices in the Settings > Item List area.

Changing material settings to include a cost will also be critical. For materials the cost and prices are both set on that particular item screen. The new cost field will be see on the middle right of the edit item screen.

What will be seen after the conversion 

The main changes after the conversion will be the new areas of the project detail screen, the new areas on each item to manage the cost and the new reports.

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