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Budgeting - Many upgrades to the budgeting screen.

We've added a whole bunch of user suggestions and general improvements to the LMN Budgeting tool.  It's faster, works better on tablets. and gives you a bunch of new updates for faster, better budgeting.

 

1.  You don't have to enter the % of work types (e.g. Design/build, maintenance, irrigation, snow) on every Compare button anymore.  We added a new "work-mix" calculator on the front page of the budget, so that the budget automatically compares your numbers to industry benchmarks as you build your budget(s).

 

 

2.  Now you do less 'manual math' when entering staff.  The field labor budget has new fields for number of employees (to make it easier for companies with lots of employees) and OT hours (to make it easier to budget for OT pay).

 

 

3.  Equipment Rental costs are now located in the Equipment Budget.  However, they are still excluded for overhead recovery calculations.

 4.  No more trailer spreadsheets!  We built a budget calculator for landscape trailers (and all the small tools and equipment) right in the equipment budget.  There are 3 different equipment calculators now (Owned, Financed, and Group).  Pick Group to enter trailers and/or any 'groups' of equipment

 

5.  The Overhead Budget now has an equipment calculator to make it faster and easier to calculate annual expenses for overhead equipment like owner's or office vehicles.

 

6.  We've just launched a brand new Analysis screen to help you make better budgets. On this screen, we'll compare your company's numbers to industry benchmarks and make specific suggestions on how you can improve your bottom line!  It's like having a consultant at your fingertips!  (note: our lawyer has insisted we not call ourselves professional financial advisors, so we do urge you to get help from a professional, like your accountant, before using your budget for estimating.  :) )

 

 

7.  The budget now has a target (average) revenue per hour for your jobs. Now you can compare your estimates' revenue per hour with what your budget needs your jobs to generate!  However, for this to be accurate, you need to specify the % of your field labor hours that are unbillable.

    • Most companies put all their field labor hours in their field labor budgets.  However, not all those payroll hours are paid for or recovered through estimates.  There's meetings, warranty work, driving time (if not estimated) and many more reasons where payroll hours aren't recovered in estimates.    Use this field to to estimate the % of unbillable/unestimated hours your field staff spends on payroll, but not being charged to customers (e.g. 20-25% is a typical % of unbillable hours - but this can + will vary by company).  
    • If you already broke out your unbillable field labor hours and put them into overhead, your unbillable % will be 0%.

 

 

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