Create a Budget in under 5 minutes! The purpose of the Express Budget is to save you time and allow you to do what you love faster - estimate.
You'll notice when creating an LMN Budget, there are two options - Operating Budget or Express Budget. This article will walk you through how to create an Express Budget.
Follow these simple steps to create an Express Budget:
- Log into LMN Estimating and select the Budget tab.
- Click +New to create a new budget for your company.
- Select Express Budget and click the OK.
- Review your Budget Info and choose from the 3 overhead recovery methods.
- LMN typically recommends MORS - Multiple Overhead Recovery as it recovers your total overhead expense over all the items that you sell - Labor, Equipment, Material, and Subs. To learn more about Overhead Recovery, in order to select the best method for your business, please click HERE.
- Enter your desired profit margin percentage and note, you can adjust your profit margin in the Item Catalog, on an entire Estimate, by Work Area or line item if needed.
- Activate your Express Budget and mark as your Standard and/ or Service default Budget if applicable.