Opportunity Budgets
Use this workspace to create detailed budgets for opportunities.
Using opportunity budgets, you can create detailed budgets, similar to job budgets, that cover all of the activities and tasks that are involved in the prospective job.
To ensure realistic pricing of your opportunities, you can leverage experience from previous jobs. Copy a template budget or the budget of a similar job so that you have a complete list of tasks to consider. Because Maconomy also copies hours, quantities, and prices, you have a very sound and detailed basis for calculating an accurate estimate.
If the opportunity results in a win, and you create a job, you can transfer the opportunity budget to the new job, as the basis for baseline budgets. You avoid double data entry and ensure that Maconomy uses the deliverables and prices that you set in the quoting phase throughout the project life cycle.
Opportunity Budgets and Job Budgets
When you create an opportunity budget, Maconomy automatically creates a job with a number that matches the opportunity's number, prefixed by an underscore.
In the Job Cost module, this job will be available in budget-related workspaces. The information displayed in the Opportunity Budgets reference workspace is the budget information assigned to the job created for the opportunity. Since the opportunity budget is essentially a job budget, working with an opportunity budget is very similar to working with a job budget, and most of the functionality offered for regular job budgets is also offered in opportunity budgets. This means that you can work with opportunity budgets in the budget-related workspaces of the Job Cost module, in the same way as when working with regular job budgets. This allows you to for example create job budget item lines, budget texts, and periodic forecasts. However, you cannot enter quote and purchasing information.
Most of the fields in the Opportunity Budgets reference workspace correspond to fields in the Job Budgets reference workspace.
Creating a Budget
Before entering information in the Opportunity Budget Lines table, you must create a budget for the current opportunity. To do this, choose a template, click Other Actions and select Create Budget...
A template job is a job whose budget will be copied the opportunity. When you select a job in the Template Job card, you can preview the budget of the selected job before creating the opportunity budget. As long as no budget has been created for the opportunity, you can preview the individual budget types of the template job by also selecting a budget type in the Show Budget field. When you have found a suitable template job and selected it, select the Create Budget action. This will copy the selected template job's budgets of all types.
Once the budget has been created, you can start adjusting the budget copied from the template job. You can use the Copy Budget action in combination with the fields in the Copy Budget card to copy lines from the budget of an existing job.
Converting Opportunities into Jobs
If the opportunity results in a win, you must create a job to be able to work out the actual job budget and enter cost, revenue, and hours.
The job created to be able to enter an opportunity budget cannot be used for entering actual hours, cost, and revenue. However, you can use the opportunity budget job as a basis for the actual job. This way, the actual job will inherit the opportunity budget figures, and the opportunity budget will remain intact, allowing you to run reports comparing the opportunity budget to the final budget and to actuals.
To create a job based on the opportunity budget job, go to the reference workspace, create a job and specify the opportunity number in the Opportunity No. field in the Creation and click Save to copy the information from the opportunity to the new job.