Component Pricing

Component Pricing or Take Offs can help improve the accuracy of cost estimations and bid creation, provide better project planning and inventory management, reduce waste or shortages, and improve overall profitability. Using this pricing model will pull components into the Materials List on the Job Document and show in the View Details tab within the bid. 

Understanding Component Pricing

Component pricing is an optional advanced pricing model that allows you to configure the price of a product or service based on the cost of your materials, labor, and other Cost of Goods Sold (COGS) with an added markup. For example, a 4-foot tall wood fence as a product might have posts, rails, pickets, and nails as materials. In addition, labor, rental equipment, etc., can also be considered COGS.  Component pricing allows you to input the cost of each component and add a markup and quantity required for a single unit of a product. Let's use breakfast items as a universal example to better understand how materials and additional costs work within components pricing. Click here to read FAQ article to learn the difference between margin and markup. 

If you want to charge your customer for an omelet plate, this would be your Product. You can charge a flat amount for the meal of $16.50 with our Basic pricing model or break out all the costs in a component configuration.

• Materials would be eggs, cheese, sausage, a side of potatoes and toast, etc.
• Additional Costs include anything else required to make that meal, such as Labor costs, cleaning fees, delivery costs, etc.

If these COGS cost the business $8.26 and you add a 50% markup on each item, the system would automatically calculate the price for your customer to be $12.39. Materials and additional Costs can be used in multiple configurations for multiple products. For example, eggs (material) might be used in several products (Omelets, kid's meals, etc). This means that when prices fluctuate, you can simply update 1 component (the egg price), and all products (omelets, kid's meals, etc) containing that material or additional cost will automatically reflect the change.  

Real-World Examples by Industry

• Click here for Foundation Repair & Waterproofing 
• Click here for Fencing, Staining, & Decks 
• Concrete & Masonry (coming soon)
• Flooring, Carpet & Coatings (coming soon)
• Landscape & Irrigation (coming soon)
• Painting, Drywall & Remodeling (coming soon)
• Roofs, Windows, & Exteriors (coming soon)

Configuring Component Pricing

1. Primary Users can find the Company Profile by clicking on the user icon in the upper right corner of the screen and selecting Company Profile. (To find the user icon on a tablet or mobile device, select the 3-line hamburger menu on the top right of your screen.) 
2. Select Products on the left side of the screen.
3. Select the Add Products button.
4. Select the Price Type of Component Pricing
5. Select a unit
6. Select all materials and the quantity required for one unit of this product by selecting them from the drop-down or creating a new one. Add rows as needed by clicking Add Row.
   
   • Create a new material within this product: Click the Material dropdown field and select New Material. Complete the name, unit of measure, cost, and markup to create a unit price. The unit price is the amount your customer will be charged for this product. Click Save. 
   • Alternatively, create a new material from the Company Profile: Follow the instructions under Add Materials on this page.
7. Select all additional costs and the quantity required for one unit of this product by selecting them from the drop-down or creating a new one. Add rows as needed by clicking Add Row.
   
   • Create a new Additional Cost within this product: Click the Additional Cost dropdown field and select New Additional Cost. Complete the name, unit of measure, cost, and markup to create a unit price. The unit price is the amount your customer will be charged for this product. Click Save. 
   • Alternatively, create a new Additional Cost from the Company Profile: Follow the instructions under Add Additional Costs on this page.
8. The price at the top of the page will automatically update to the new unit price for your product.
9. Add a product category to link your product to a form(s). Learn more about product categories in the Product Category article.
10. Click Save. 

Add Components via Data Import

Please follow the instructions for adding material and additional costs below. For those with 20 items or more, we offer a free import for your convenience. Please download the appropriate template and fill in the required and optional columns as noted. When complete, please email the document and a request for your import to your Customer Success Manager at support@contractoraccelerator.com.

• Click to download the COMPONENT: MATERIALS import template.
• Click to download the COMPONENT: ADDITIONAL COSTS import template.

Add Materials

1. Primary Users can find the Company Profile by clicking on the user icon in the upper right corner of the screen and selecting Company Profile. (To find the user icon on a tablet or mobile device, select the 3-line hamburger menu on the top right of your screen.) 
2. Select Materials on the left side of the screen or create materials from the component price configuration within the product. Please see our article about Products to learn more. 
3. Select the Add Materials button.
4. Complete the name, unit, cost, and markup to create a unit price. The unit price is the price you will charge your customer for this product.
5. Click Save. 

Add Additional Costs

1. Primary Users can find the Company Profile by clicking on the user icon in the upper right corner of the screen and selecting Company Profile. (To find the user icon on a tablet or mobile device, select the 3-line hamburger menu on the top right of your screen.) 
2. Select Additional Costs on the left side of the screen or create Additional Costs from the component price configuration within the product. Please see our article about Products to learn more. 
3. Select the Add Cost button.
4. Complete the name, unit, cost, and markup to create a unit price. The unit price is the price you will charge your customer for this product.
5. Click Save.

Line Item Edits in Bid Creation

During bid creation, users can edit a line item price within the sidebar of the bid creator. When a product has component pricing configured, those components can be altered as a 1-time adjustment during the bid creation process. Please check out the Create a Bid article to learn more about adjustments to line items with basic pricing non-component-related edits such as fees, and discounts. 

1. Within the bid creator, add a form, product, and quantity.
2. On the left side of the page, select the Price Tag icon to move to the pricing sidebar.
3. Edit the unit price and components by clicking the Pencil icon.
4. All Materials and/or Additional Costs previously configured with this product in the Company Profile will populate with the quantity needed for this line item.
   • Using our breakfast example from the Understanding Components Pricing section on this page, you would see the 3 eggs, 2 sausages, etc. for every omelet you have input into the form. For example, 2 omelets would be 6 eggs, 4 sausages, etc. 
   • Hover over the information icon to see the per-component price and the original quantity assigned to that product.
5. Update the quantity needed for any component by clicking the text box and making your desired changes.
   
   • The Component Price Adjustment toggle at the bottom of the sidebar gives you the option to keep the original price per product or charge for the adjustments to the components. When this setting is turned on, you will see the adjustment in the summary section. When it is turned off, the customer will be charged the original price for that line item. 
   • Additional Line Item pricing can be updated by following the instructions within the Pricing section of our Create a Bid article.