Project estimate basics

A project estimate enables you to approximate how much a project might cost to complete. Then, you can track the actual costs against your estimate to determine your project's profitability.

Use the project, task, and cost type (for Construction subscriptions only) dimensions to capture and track actual project amounts from other applications, like the General Ledger (GL), Accounts Payable (AP), and Purchasing. Report on your project costs using dimensions.

For Construction subscriptions only, you can use cost types to track task details, like labor or overhead.

Workflow

Before adding project estimate details, set up the project's work breakdown structure first so you don't have to add new tasks and cost types (for Construction subscriptions only) for each estimate line.

1. To create a project estimate, go to Projects > Setup > Projects Estimates
2. Select Add to create a project estimate.
3. Enter an estimate ID. If you're set up to use an automatic estimate ID sequence, the estimate ID is generated when you save the estimate.
4. Associate the estimate with the corresponding project by selecting an existing project ID, which populates the project information section.
5. Enter a description of the estimate.
6. Projects users must enter a GL account on every line
7. Enter an estimate date.
Selecting a project prefills the project begin and end dates. The estimate date is read-only on final estimates.
8. If applicable, select an estimate type (optional).
9. Enter a status of active (default), inactive, or finalized.
• Use the active status on current estimates. New estimates default to the active status.
• Use the inactive status on estimates for historical reference (like an original customer bid). Then, on the Project Estimates listing, you can use the Include inactive checkbox to include those estimates in the view.
• Use the finalized status to lock estimates from further changes; they become read only. You can change a finalized estimate to an active status at any time.
10. For projects with more than one estimate, select the Primary forecast checkbox to indicate the project's main estimate. Only one estimate per project can be set as a primary forecast.
    
The first estimate you add to a project is automatically marked as the primary estimate when you save it. If you import estimates (via API from a 3rd-party), the primary designation locates which estimate to update. You cannot delete primary estimates. Only primary project estimates summarize production units (for Construction subscriptions only) by task.
11. To attach electronic documents to the estimate, such as spreadsheets or blueprints, select the paper clip next to Attachments.
12. If you intend to post the estimate to a budget, choose a posting option in the Integrate with GL section. Dates cannot precede the project begin date. Posting options are read-only on finalized estimates.
    • Period of project begin date: posts the amounts to the period in which the project begin date falls. Verify that a project begin date exists when selecting this option.
    • Period of estimate date: posts estimate entries to the GL period that corresponds with the project estimate date. You can change this date, but you can't enter a date before the project begin date. Selecting a project prefills the project begin and end dates. The estimate date is read-only on final estimates.
    • Period of each estimate entry effective date: posts each estimate line entry to the effective date for that line; each line might post to different periods due to different effective dates. If you choose this option, enter an effective date for each entry line. Multiple estimate line entries for the same GL account, dimension, and budget period are summarized and posted as a single line to the same budget period.
    • Distribute evenly to periods between the project begin and end date: spreads the amounts equally across periods between the project begin and end date; both dates are required for this option. If you select this option, ensure that the project has a begin and end date.
      Avoid using for Construction projects.
      You can't distribute the estimate across all periods to a balance sheet account.
      Posting an estimate to a balance sheet GL budget can only be applied to a single budget period.

13. In the Estimate entries section, you can optionally:

    • Associate estimate entries with selected workflow types (original, revision, forecast, approved change, pending change, other) to control what you post to a GL budget from the project estimate or to group estimates by workflow type in reports.
    • Select project tasks and their corresponding cost types (for Construction subscriptions only). Enter units of measure (UOM), quantity, unit rates, and amounts, if necessary. If you set up cost types (for Construction subscriptions only) with a GL account and an item ID, that information prefills the GL information when you select the cost type.
    • For Construction subscriptions only, add the Production units and Production unit description columns to the Entries section. When you enter production units, select a task and workflow type for that line. When you apply workflow types to production units in the project estimate, the Task > Production Units tab automatically reflects the production units, summarized by workflow type for that task.
      Enter production units to primary project estimates (for Construction subscriptions only). Then, when you save the primary estimate, the Task > Production Units tab reflects the production units you entered in this estimate.

1. To create a project estimate, go to Projects > Setup > Projects Estimates
2. Select Create to create a project estimate.
3. Enter an estimate ID. If you're set up to use an automatic estimate ID sequence, the estimate ID is generated when you save the estimate.
4. Associate the estimate with the corresponding project by selecting an existing project ID, which populates the project information section.
5. Enter a description of the estimate.
6. Projects users must enter a GL account on every line
7. Enter an estimate date.
Selecting a project prefills the project begin and end dates. The estimate date is read-only on final estimates.
8. If applicable, select an estimate type (optional).
9. Enter a status of active (default), inactive, or finalized.
• Use the active status on current estimates. New estimates default to the active status.
• Use the inactive status on estimates for historical reference (like an original customer bid). Then, on the Project Estimates listing, you can use the Include inactive checkbox to include those estimates in the view.
• Use the finalized status to lock estimates from further changes; they become read only. You can change a finalized estimate to an active status at any time.
10. For projects with more than one estimate, select the Primary forecast checkbox to indicate the project's main estimate. Only one estimate per project can be set as a primary forecast.
    
The first estimate you add to a project is automatically marked as the primary estimate. If you import estimates (via API from a 3rd-party), the primary designation locates which estimate to update. You cannot delete primary estimates. Only primary project estimates summarize production units (for Construction subscriptions only) by task.
11. To attach electronic documents to the estimate, such as spreadsheets or blueprints, select the paper clip next to Attachments.
12. If you intend to post the estimate to a budget, choose a posting option in the Integrate with GL section. Dates cannot precede the project begin date. Posting options are read-only on finalized estimates.
    • Period of project begin date: posts the amounts to the period in which the project begin date falls. Verify that a project begin date exists when selecting this option.
    • Period of estimate date: posts estimate entries to the GL period that corresponds with the project estimate date. You can change this date, but you can't enter a date before the project begin date. Selecting a project prefills the project begin and end dates. The estimate date is read-only on final estimates.
    • Period of each estimate entry effective date: posts each estimate line entry to the effective date for that line; each line might post to different periods due to different effective dates. If you choose this option, enter an effective date for each entry line. Multiple estimate line entries for the same GL account, dimension, and budget period are summarized and posted as a single line to the same budget period.
    • Distribute evenly to periods between the project begin and end date: spreads the amounts equally across periods between the project begin and end date; both dates are required for this option. If you select this option, ensure that the project has a begin and end date.
      Avoid using for Construction projects.
      You can't distribute the estimate across all periods to a balance sheet account.
      Posting an estimate to a balance sheet GL budget can only be applied to a single budget period.

13. In the Estimate entries section, you can optionally:

    • Associate estimate entries with selected workflow types (original, revision, forecast, approved change, pending change, other) to control what you post to a GL budget from the project estimate or to group estimates by workflow type in reports.
    • Select project tasks and their corresponding cost types (for Construction subscriptions only). Enter units of measure (UOM), quantity, unit rates, and amounts, if necessary. If you set up cost types (for Construction subscriptions only) with a GL account and an item ID, that information prefills the GL information when you select the cost type.
    • For Construction subscriptions only, add the Production units and Production unit description columns to the Entries section. When you enter production units, select a task and workflow type for that line. When you apply workflow types to production units in the project estimate, the Task > Production Units tab automatically reflects the production units, summarized by workflow type for that task.
      Enter production units to primary project estimates (for Construction subscriptions only). Then, when you save the primary estimate, the Task > Production Units tab reflects the production units you entered in this estimate.

• Each estimate line in the import file must contain a value for either Quantity and Unit rate, or a value for Amount.
  If Quantity and Unit rate contain values, those values are used to calculate the Amount.
  If the estimate line contains values for Quantity, Unit rate, and Amount, the import process only uses the Amount from the file, without calculating the amount using the Quantity and Unit rate.
• For each estimate line, indicate workflow types: original (default), revision, forecast, approved change, pending change, or other. Lines without workflow types default to original.
Use workflow types to filter the estimate entries to post to specific General Ledger (GL) budgets. All lines are additive, meaning a revision entry doesn't replace the original entry.

• Values are case sensitive, so be sure to use the correct uppercase and lowercase letters.
• You can import estimates multiple times; each import creates a new estimate and does not replace existing estimates. If you use automatic sequential estimate IDs and import estimates more than once, each import creates a new estimate.

If you experience import errors, review the importing tips and common errors.

Import errors occur when you try to import information that doesn’t match the requirements of the template. Each template has a set of required information you must enter to import the file successfully, and formats to follow for certain kinds of information. Read the descriptions in the template to determine the most accurate way to enter your data.

If individual transactions are in error, the rows in the transaction that are in error are saved in a CSV file for you along with an error code for each row. Check your email for information about specific errors. See Find and fix CSV import errors for more information.

For more information about the CSV upload process, read Prepare your file for CSV import.