Better Way Financials Overview - Multiple Proposals PDF

**Better Way Financials Overview** At the end of January, we will be making some changes in the financial space designed to **put Builders in the driver's seat of their financials**, with more ways to manage both their scope discussions and budget that match **industry standards** and what's happen...

**Better Way Financials Overview** At the end of January, we will be making some changes in the financial space designed to **put Builders in the driver's seat of their financials**, with more ways to manage both their scope discussions and budget that match **industry standards** and what's happening in the **real world** -- **without workarounds.** **Those updates are focused in two main areas:** - **New jobs created will only get the Job Costing Budget** - **Revised Cost Worksheet on the Estimate will be sunset,** and users should replace this workflow with either **Multiple Proposals** or **Projected Cost Adjustments**, whichever meets their primary use case of Revised Cost today. \[[Link to JCB Talking Points doc](https://btrnd-my.sharepoint.com/:w:/g/personal/abby_newton_buildertrend_com/ERx9dBsqNNNFsfiQf4xNMkwBgzPtWdFyaHoiIRCY6eSw3A?e=gbkSwS)\] **Multiple Proposals** From the initial concept and design agreement, through discussions on details, to settling on a final contract, there are multiple iterations of cost and scope. Using multiple proposals based in the Estimate unlocks the ability for builders to collaborate with clients as scope is refined, maintaining a history of iterations along the way, from a single location within the platform. Builders are in greater control of their cost baseline, only setting their official budget once an agreement is finalized and they are ready to move forward. **[What are the benefits of multiple proposals?]** **Leveraging multiple proposals allows builders and their clients to visualize the contract/budget scope iterations.** This update allows you to iterate on scope as discussions get increasingly detailed, and collect signatures with each step to indicate a desire to continue refining the plan, even before the final contract is ready. **It's easier to represent optional scopes of work.** By leveraging the recently released ability to mark groups as optional on the Estimate, it is easier to indicate which aspects of the project are required or base scope, and which are elective. This makes it easier to clearly represent cost implications of each decision throughout the preconstruction process to ensure the final scope is well defined. **You have more control over your starting budget**. Currently the budget is populated directly from the Estimate...while the Estimate is in flight. This creates an inaccurate picture of the project's budget if the scope discussions are still in flight or cost estimation is still in progress. With this update, the Original Budget Costs values on the Budget will not be populated until you are ready to officially set your baseline. **[When should I use multiple proposals?]** **[When should I NOT use multiple proposals?]** **[Objection Handling]** **[-- Potential Questions]** 1. [**Why is leveraging multiple proposals better than leveraging the Revised Cost Worksheet?**](#B1) 2. [**Why are you sunsetting the Revised Cost Worksheet on the Estimate?**](#B2) 3. **[I was using the Revised Cost Worksheet to enter my actual costs as they came in, to keep my projected costs updated.](#B3)** 4. [**I was using the Revised Cost Worksheet to reflect additional scope the client could opt into. What do I do now?**](#B4) 5. [**My budget used to automatically update from the Estimate. How is my budget established now?**](#B5) 6. [**I need to make scope changes and used to use the Revised Cost Worksheet to do this. What do I do now?**](#B6) 7. **[I need to adjust my baseline Estimate.](#B7)** 8. [**I've never had to actively send my Estimate to the Budget. What else is that controlling?**](#B8) 9. [**Send to Budget now sets the Contract Price on the job. I used to be able to edit this directly. What if I need to round up or down for a cleaner price presentation to my client?**](#B9) 10. **[I need to see Revised v Original instead of Revised v Projected to understand how my budget has changed.](#B10)** 11. **[I need to reallocate funds from a contingency fund or from one line item to another, and I was previously using Revised Costs to do this. What should I do now?](#B11)** 12. **Vinny's example** []{#B1.anchor}**Why is leveraging multiple proposals better than leveraging the Revised Cost Worksheet?** []{#B2.anchor}**Why are you sunsetting the Revised Cost Worksheet on the Estimate?** []{#B3.anchor}**I was using the Revised Cost Worksheet to enter my actual costs as they came in, to keep my projected costs updated.** []{#B4.anchor}**I was using the Revised Cost Worksheet to reflect additional scope the client could opt into. What do I do now?** []{#B5.anchor}**My budget used to automatically update from the Estimate. How is my budget established now?** []{#B6.anchor}**I need to make scope changes and used to use the Revised Cost Worksheet to do this. What do I do now?** []{#B7.anchor}**I need to adjust my baseline Estimate.** []{#B8.anchor}**I've never had to actively send my Estimate to the Budget. What else is that controlling?** []{#B9.anchor}**Send to Budget now sets the Contract Price on the job. I used to be able to edit this directly. What if I need to round up or down for a cleaner price presentation to my client?** []{#B10.anchor}**I need to see Revised v Original instead of Revised v Projected to understand how my budget has changed.** []{#B11.anchor}**I need to reallocate funds from a contingency fund or from one line item to another, and I was previously using Revised Costs to do this. What should I do now?** Vinny's example: **[Jakes Question:]** I have a builder who is concerned about losing a vital process when the legacy budget is sunset due to not being able to overlap jobs in the JCB. I know the typical answer is the jobs list, but since the jobs list can\'t be broken down by cost code I don\'t think it would help here. I was thinking maybe PO\'s would be a potential solution but could use some help coming up with a viable solution. image Also, for added clarity, he doesn\'t actually mean amount invoiced in BT lingo. Basically he\'s looking at the amount estimated vs. amount paid, to see how much he has left to spend in each labor code. Then running that calculation to tell him how many labor hours that is. But doing this across all jobs at once.  **[My response:]** This one is tough, he can still find some of those total calculations for now in the jobs list like cost paid and amount invoiced and job running total. Granted he would need to export to excel to then calculate that total though. He can still filter out in the JCB but he is wanting across all listed jobs which is the tough part since the JCB is really focused on the job level and not the company level like he is wanting. For what it\'s worth he could also find costs paid using all jobs in the bill section by utilizing the filter to filter out just paid bills and amount invoice he could utilize owner invoices.  There might be something he can do with PO\'s since he can filter out cost codes there and use PO\'s to compare what has been paid and still utilize the Job Running Total \# he can find in the jobs list but he would have to be making sure he is creating PO\'s off his entire estimate right away to have the full picture. BUT this might not do what they want it to do since when you filter by cost code here if there are more than 1 cost code on the PO it would calculate the total PO, not just the line item total if that makes sense so it would depend how they have this setup.   Honestly there is nothing real ideal with this and I can\'t really say how much of our client base might be utilizing all listed jobs like this. I can say that all listed job piece/job groups in general are being evaluated and gathering feedback to see what the future of that might look like and what would make most sense for majority of our customers. Once Vincent Morrissey is back on Monday I\'d be curious his thoughts more and if he can think of anything else I can\'t.