In part 1 of this 2-part tip, we established the Work Breakdown Structure (WBS) in IntelliBid. To work with the Schedule of Values (SOV) in JobTrac, the project’s contract amount needs to first be finalized since the estimated amount may have been adjusted by management during negotiations many times. To enter the project’s contract amount, go to the Jobs tab and select the Bidding Info sub-tab as shown in Figure 4 where you will see to enter the contract number as well as the contract amount. In this example the contract amount of $83,000 has been entered.

jt11_pt2_4
Figure 4

In Figure 5, the contract amount is now displaying the projects contract amount as $83,000 but the SOV is out of balance by $127.32 which is the difference between the estimate amount and the contract amount.

Figure 5
Figure 5

This out of balance amount needs to be balanced before finalizing the SOV that can then facilitate the progress billing set up in the Calculation Sheet tab shown in Figure 6.
Note: the message in Figure 6 is stating that progress billing cannot proceed until the SOV is balanced to match the contract amount. In fact, the program will not even allow entry into the calculation tab until the SOV is balanced.

Figure 6
Figure 6

As shown in Figure 7

  1. In order to edit the SOV the Phase Breakdown needs to be combined by Area. The out of balance difference of $127.31 needs to be subtracted from a Phase and typically the adjustments would be best made to tasks with the largest dollar amounts so that the impact of the adjustments are negligible by percentage.
  2. The labor selling amount of $12,823.12 was manually adjusted to $12,692.81.
  3. Selecting the Recalculate Column button will adjust the Labors Job total based on the adjustment. As you can see in Figure 7 the SOV is now balanced. JobTrac displays this as an out of balance of 0.00.
Figure 7
Figure 7

ConEst_email_tips_graphic

 

 

About Our Tips
You’ve invested in software that is feature rich, and we want to help you get the most out of it! These tips are for new and existing users to learn about the latest enhancements, methods, and shortcuts that will help you save time and increase workflow efficiency.

Send us your tip ideas to news@conest.com, and we’ll share them with the ConEst community.

 

Back to JobTrac User Tips Archive