Markups Overview

A Markup is an indirect cost associated with building the project. Some common indirect costs include general conditions, general requirements, insurance, bonds, permits, fees, and profit.

Markups can occur in the Milestone Estimate and Budget as well as Item Estimates. Markups can be displayed differently depending on cost settings for the project. For more information on this see How Join presents project costs based on your Markup Settings.

Markups on Milestone Estimate/Budget

Milestone Estimates and Budgets each have a Markups section after the Direct Costs section, where you can enter indirect costs. There are two types of Markups supported in Join.

Lump sum

A Lump sum Markup is a fixed dollar amount. It doesn't change based on the estimate subtotal or the cost of any Items. If you enter a Lump sum Markup in your Estimate, it will not be inherited by Items.

Percent Markup

A Percent Markup is a variable amount based on costs in the estimate (or budget) and any accepted Items. Percent Markups in your Milestone Estimate will be inherited by Items in that Milestone. This means that in an Item Estimate there will be two Markup sections, one for Item-specific Markups and one that mirrors your Percent Markups from the Estimate called Inherited Project Markups

When a percent markup is configured, there needs to be a subtotal(s) to reference before it can be applied. It can apply to the subtotal of all direct costs (S1 in the estimate table), and it can also apply to other markups, or to the project total. When multiple values are selected to reference, your markup applies to the sum of the selected values. 

A filter can also be applied so the markup is calculated only from a specific work breakdown structure or Custom Category. For example, if a specific markup for steel to account for volatility is needed, a filter can be applied to the S1 cost to reflect a markup only on the 05 Metals section of MasterFormat. Once a filter is applied there will be a filled-in funnel next to the filter category. 

There are a few things to consider when deciding which type of Markup to be used. Percent markups are calculated numbers that can have up to three decimal places for accuracy. For fees that have more significant figures, the lump sum Markup can be used to retain the exact value. 

Markups on Items

(Item) Markups

The first section, called "Markups", is for additional indirect costs on that item. They can be calculated as either lump sum or a percentage markup. These can be created in each Item or added to the Item Template (see Creating a Default Item Template).

Inherited Project Markups

The second section, "Inherited Project Markups", shows any percentage-based markups created at the milestone estimate level that apply to this item. Any percent markups in your milestone estimate that apply to S1 and include any cost categories for this item will appear here with the value applicable to this item.  

If you need to, you can turn off any inherited project markups on the left-hand section of the markup under the “Applied” column.