Anticipated costs overview

Anticipated costs are project expenses, such as materials, labor, or subcontractor services, that are expected to be incurred in the future, but are not yet realized. For example, plumbing fixtures or cleanup services will occur at the final stage of a project and vendors may not be identified until the very end. As a result, financial dashboards that compare estimated cost budgets versus commitments will show a budget surplus unless anticipated costs are documented.

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.

About anticipated costs

• Anticipated costs should 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 POs, subcontracts, and so on, that are documented as anticipated costs get accounted for in the project.
• Accounted For is only relevant when itemizing anticipated costs, not when summarizing by JCC.
• If the selected anticipated costs method in Settings > Feature Settings > Procurement is Summarize by JCC, you cannot import anticipated costs using a Microsoft Excel file.

Before you add anticipated costs

• 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

• If the selected anticipated costs method in Settings > Feature Settings > Procurement is Itemized Breakdown, you can do the following:
  • Add items manually.
  • Import items using one of the following options:
    • Import items using a Microsoft Excel file.
    • Import labor items from the Cost Database.
    • Import equipment items from the Cost database.
    • Import work items from the Cost Database.
    • Import estimate items
    • Import estimate items grouped and summed by code, description, and unit of measure.
    • Import job cost codes.
  • Edit itemized anticipated costs.
• If the selected anticipated costs method in Settings > Feature Settings > Procurement is Summarize by JCC, you can do the following:
  • Import Job Cost Codes And Values
  • Edit Job Cost Code Values