Anticipated costs overview
Anticipated costs are future project expenses, such as materials, labor, or subcontractor services, that have not yet been incurred. For example, plumbing fixtures or cleanup services might occur in the final project stage, and vendors might not be identified until late. Without documenting anticipated costs, financial dashboards comparing estimated budgets to commitments might show an artificial budget surplus.
In Sage Construction Management, you have the option to document anticipated costs as detailed line items or dollar amount per job cost code (JCC). This can be specified
in Settings (
) > Feature Settings > Procurement.
If you change the method of documenting anticipated costs, any existing anticipated costs will be deleted.
About anticipated costs
- Anticipated costs must be reviewed on an ongoing basis for the project.
- Anticipated costs are categorized as a committed cost in project analytics.
- Anticipated costs will be either deleted or marked as Accounted For. Consequently, actual procurement transactions, such as purchase orders (POs), subcontracts, and so on, that are documented as anticipated costs get accounted for in the project.
- The Accounted For checkbox is only applicable when itemizing anticipated costs, not when summarizing by JCC.
- If the selected anticipated costs method in Settings () > Feature Settings > Procurement is set to Summarize by JCC, you cannot import anticipated costs using an Excel file.
Before you begin
- Make sure the prime contract that will be referenced on the anticipated cost item is approved and has a Status Date.
- Similar to the prime contract, a job cost code is required when adding anticipated costs.
Add, import, and edit anticipated costs
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If the selected anticipated costs method in Settings () > Feature Settings > Procurement is set to Itemized Breakdown, you can do the following:
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If the selected anticipated costs method in Settings () > Feature Settings > Procurement is set to Summarize by JCC, you can do the following: