Where markups appear
Markups on milestone estimate/budget
Your milestone estimate and budget each have a "Markups" section after the direct costs section, where you can enter below-the-line costs.
These markups are included in cost subtotals depending on which cost settings you're using:
- Markups are included if you're using "show markups allocated" or "show markups separated"
- Markups are hidden/excluded if you're using "direct costs only"
- For more information about cost settings, see this article
Markups on items
Items have two markup sections:
The first section, called "Markups", is for additional costs on an item that might be calculated as a percentage of other item costs.
Inherited Project Markups
The second section, "Inherited Project Markups", shows any 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 that this item contributes to will appear here with the value applicable to this item.
Types of markups in Join
You have two options for configuring markups in Join: Lump Sum (fixed cost) and Percent (variable cost)
A lump sum markup is a fixed dollar amount. It doesn't change based on the estimate subtotal or the cost of any accepted items.
A percent markup is a variable amount based on costs in the estimate (or budget) and any accepted items.
A percent markup is a percent of something, so when you configure a percent markup, you need to choose what subtotal(s) to reference before it can be applied. It can apply to the subtotal of all direct costs (S1 in your estimate table), and it can also apply to other markups or to the project total. When you select multiple other markups to reference, your markup applies to the sum of all the selected values.
Need to add a markup that only applies to certain categories, like a contingency that's tied to a specific bid package or sub guard that should only impact a few work breakdown structures? Now you can select specific categories for your markups, and a cost will only have this markup applied if it matches one of those categories.
If you apply filters for more than one categorization on the same markup, a cost will need to match all of the filters before the markup will apply. For example, if you set a markup to apply to UniFormat A and B and to MasterFormat Division 03, it will be applied to any costs in UniFormat A or B that are also in MasterFormat 03.