While it is recommended, it is not required in order to create estimates. You have the option to customize pricing per each item and work area. All LMN subscriptions - Free, Basic and Pro include sample budgets which you can use to see how estimating/pricing works before you actually enter your company's budget.
We strongly recommend creating your customized company budget before estimating actual jobs. Your LMN Budget is going to make sure you're covering all the costs of the job:
- Labor - incl. wages, overtime, downtime, taxes/burden
- Equipment - incl. both leased and a fair return on owned equipment
- Materials - incl. warranty + shipping
- Overhead - incl. all non-billable costs specific to your company
- and, of course, a fair Net Profit
Without an operating + overhead budget, you can only guess/hope that each job is priced correctly.. and guessing is exactly what LMN is designed to eliminate.
Most companies finish a budget in less than a day... and once they're up and running - they wonder how they ever estimated without one.