Glossary

Assembly

An assembly is a reusable pricing package for work you do often. It can include material cost, labor cost, equipment cost, subcontractor cost, other cost, customer scope text, and internal notes.

Use an assembly when the work is more than one simple item.

Price item

A price item is a single reusable item in the price book. Examples include a gallon of paint, a tube of caulk, an hourly labor rate, a permit fee, or equipment rental.

Use a price item when the cost is simple and does not need bundled scope text.

Loaded labor

Loaded labor is the real internal labor cost used for pricing. It can include wages, payroll burden, benefits, insurance, travel, supervision, and other labor-related overhead.

Margin

Margin is the percent of the final customer price that remains as gross profit after direct cost.

Example: if the price is $1,000 and direct cost is $500, gross margin is 50%.

Markup

Markup is how much cost is increased to reach price.

Example: if cost is $500 and price is $1,000, markup is 100%.

Official estimate

An official estimate is the customer-facing version that has been previewed and sent. It should represent the terms, scope, and price the customer can approve.

Revision

A revision is a new official version created after changes. Revisions help preserve history when scope, price, terms, or customer requests change.

Marketing opt-in

Marketing opt-in means the customer can receive follow-up or promotional messages. Only record opt-in when the customer gave permission or your business has a clear relationship basis.