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Including liability insurance costs in 9-5 Takeoffs

Including tax costs in 9-5 Takeoffs

Including bonding costs in 9-5 Takeoffs

Note: This functionality is available only if you have the Estimating Module.

In the 9-5 Takeoffs window, you can use the Insurance/Tax/Bonding tab to include the charge for bonding in the final bid amount where the charge is based on the sales price while also being a component of the sales price. You only have to supply the bonding limits and rates. Sage 100 Contractor computes the bonding amounts and adds them to the bid total for you.

Suppose you won a $100,000 contract, which requires 2 percent bonding. That would be an additional $2,000 for a bid amount of $102,000. Because the bonding is considered part of the contract, however, you need to include an additional 2 percent on the $2,000 for an additional $40, resulting in a bonding of $2040.82. The bid total, including the bonding, becomes $102,040.82.

Bonding is usually considered to be overhead. However, you can include the bonding amount in the budget. Select the Include in budget checkbox.

Tip: If you have entries in text boxes that are consistent, you can set up defaults to make the entry more automatic.

To include bonding costs in the final bid amount:

  1. In 9-5 Takeoffs, click the Insurance/Tax/Bonding tab.
  2. Under Bonding, do the following:
    1. In the Limit Amount text box for Limit 1, enter the limit as a dollar amount of the contract that is subject to bonding.
    2. In the Rate text box for Limit 1, enter the percentage rate at which you calculate the bonding. Using this rate, Sage 100 Contractor computes the bonding amount up to the limit entered for Limit 1.
    3. In the Limit Amount text box for Limit 2, enter the limit as a dollar amount of the contract that is subject to bonding.
    4. In the Rate text box for Limit 2, enter the percentage rate at which you calculate the bonding. Using this rate, Sage 100 Contractor computes the bonding amount from Limit 1 through Limit 2.
    5. In the Rate text box for Limit 3, enter the percentage rate at which you calculate the bonding. Using this rate, Sage 100 Contractor computes the bonding amount from Limit 2 up.
    6. In the Cost Code text box, enter the cost code number to which you want to assign the bonding costs.
    7. In the Cost Type list, click the cost type to which you want to assign the bonding costs.
    8. In the Bid Item list, click the bid item to which you want to assign the bonding costs.
    9. In the Phase list, click the phase to which you want to assign the bonding costs.