TurboBid Software Version History
New Overhead Rate Per Hour Calculator (Video Tutorial)
The ability to accurately account for your company's overhead expenses in your estimates is of the utmost importance. If you add too much overhead to your estimates, your bid price will be higher than it should be, and you will not be awarded the job. If you add too little overhead to your estimates, your bid price will be lower than it should be, and you will not make the expected profit.
Your company overhead represents the expenses that you incur to run your company. It has nothing to do with your field employees, material for your jobs, or any direct job expenses. Overhead consists of advertising expenses, financial expenses, insurance expenses, IT expenses, legal expenses, physical business location expenses, office expenses, office utilities, office employees, taxes, vehicles, etc.
The best way to accurately calculate how much to add to your estimates for your overhead expenses, is to use an overhead rate per hour value.
- Easily add any employee in your employee list to the calculator.
- TurboBid's Employee and Burden Wizards walk you through the process of entering data in order to accurately calculate each employee's burden costs, as well as hour many hours each employee will be working on your job sites.
- All required employee data is automatically added to the calculator.
- Employee data revisions are updated in the calculator in real time.
- Every tab displays your overhead summary values. The values are updated in real-time as data is entered, allowing you to immediately see the impact of new entries.
- Select to automatically use the calculator's Overhead Rate Per Hour in your estimates.
- Any changes to the calculator are automatically applied to your estimates.
Some contractors use a set percentage of the estimated prime cost for calculating their overhead expenses. The problem with this method is that the estimated prime cost includes all direct job expenses. Think of this scenario. The estimator has selected to calculate the estimate's overhead cost by using 10% of the estimated prime cost. Let's suppose that this estimate included a $50,000 emergency generator system. This method will have added $5,000 to the overhead expenses, when in fact the emergency generator system did not cause the company's overhead costs to increase one penny. This estimate will be $5,000 higher than it should be.
The Overhead Rate Per Hour is calculated by dividing your true overhead expenses by the total number of hours your field employees will be working on your job sites. If you're trying to keep two employees employed for 1,968 hours per year, you will need to win estimates that will keep your guys busy for 3,936 for the year.
By accurately identifying and accounting for all of your company's overhead expenses, and then dividing that amount by your employee's total job site hours, you will know exactly how much overhead to add to your estimates per hour.
It doesn't matter what size your company is. This is simply business 101, and will determine the financial success of your company.
Another great feature of the calculator is the Billable Rate section. Simply enter the amount of profit that you would like to make on your employee's for time and material work, and it will calculate how much you should be charging your customers per hour for each employee. An employee's billable rate per hour is calculated by adding together each employee's hourly pay rate, hourly burden, hourly overhead, and the selected profit. If you don't know your employee's burden costs, or your company's overhead costs, there is no way that you can calculate how much profit you're making on your billable rate per hour. The sad truth is that you could actually be losing money.
Figure 1: Select Employees
Figure 2: Select Overhead Expenses
Figure 3: Summary Values are Updated in Real-Time as Data is Entered into the Calculator
Figure 4: Calculate Your Employee's Billable Rate Per Hour for Time and Material Work
Descriptions for items that are in the Take-Off tab are no longer being displayed in the formal proposal.
TurboCloud Assembly Grid View
- We have revised the old assembly tree view into a grid view to make it easier to find what youâ€™re looking for. The new grid view displays images for the assemblies and the assembly folders.
We will be revising the reports in the future to display images. This will be a great feature for service and remodel quotes.
Each assembly image in the grid includes an "Add to Estimateâ€ button.
Figure 1: New Assembly Grid View.
TurboCloud Search Feature
- We have improved TurboBidâ€™s search feature to make it easier to find what youâ€™re looking for. Rather than simply displaying a list of search results, the new search feature is located within the Item and Assembly grid views.
Search results are displayed in both the folder tree and the image grid, allowing you to see exactly what youâ€™re looking for.
By default, only folders that contain search results will be displayed. However, you can display all the folders in the tree by clicking the "Show Allâ€ button. The non-result folders will display a different folder icon so that you can easily identify the search result folders.
The search feature in the "Select Materialâ€ screen and the "Assembly Maintenanceâ€ screen will open to the new search feature.
Figure 2: New Search Feature.
TurboCloud Virtual Library
- In order to meet every estimatorâ€™s material needs, TurboBidâ€™s database include hundreds of thousands of items and assemblies. This can be a lot of material to navigate through in order to find what you need.
Since most users typically have a limited number of items and assemblies that they use on a regular basis, we have added a new database section titled "Virtual Libraryâ€.
The Virtual Library allows you to create folders that contain links to existing items and assemblies. All existing items and assemblies can quickly be added to any folder in the virtual library.
Virtual Library Templates
- TurboBidâ€™s Select Material screen includes the ability to save the material in an estimate as a template that can be loaded into future estimates.
We have added a right click menu option for "Import Templateâ€. This allows you to import your previously created templates into your Virtual Library.
The contents of all Virtual Library folders can be added to an estimate.
TurboCloud New Items Folder
- Our database admin team works closely with various supply houses. They provide us with material files that we use to import tens of thousands of new items into TurboBidâ€™s database. These imported items include basic descriptions, manufacturer, UPC #, catalog # and pricing. Our database team tweaks the descriptions, add pictures, catalogs, and labor units as soon as possible. However, this process can take a considerable amount of time.
Rather than making you wait for our admin team to finish, we are making these items available to you in the New Items folder.
Once our admin team tweaks the descriptions, adds pictures, catalogs, and labor units, the items will be move into your Standard folder.
Revised the Item and Assembly folder tree
- Managing TurboBid's database is now easier than ever.
Due to the complexity of the old folder tree, we have made a major revision so that there is only one type of folder. Now, all the folders are yellow, have no rules as to where they can be located, or what items/assemblies they can contain. The result is that it is now much easier to edit the database trees, and the speed of running a TurboCloud refresh/sync is ridiculously fast.
New Employee Icon and List
- The old "Labor and Burden" icon has been replaced with a new "Employee" icon.
- The new "Employee" icon opens a new multi tab screen that displays your Employees, Burden Groups, and burdens.
- The new employee list is highly detailed. It makes it simple to view everything about your employees, including all of their burdens.
- It is linked to and interacts with the new Employee Wizard
- It is linked to and interacts with the new Burden Wizard
New Employee Wizard
- The old "Manpower Classification" screen has been replaced with a new "Employee Wizard".
- The new Employee Wizard is used to create new employees as well as maintain existing employees
- The Employee Wizard is very detailed and is in a simple to use step by step wizard format. It makes creating new employees really simple
- Employees can assigned to use a specific Burden Group that was created and maintained in the new Burden Group Wizard.
- If an employee is assigned to use a specific Burden Group, the Hourly Burden cost will automatically be calculated and assigned to the employee.
New Burden Group Wizard
- The old "Burden Calculator" screen has been replaced with a new "Burden Group Wizard".
- The new Burden Group Wizard is used to create new Burden Groups as well as maintain existing Burden Groups.
- The Burden Group Wizard is very detailed and is in a simple to use step by step wizard format. While the old calculator could be a little confusing. this new wizard guides you through the process step by step.
- Revised the report that displays the items in an estimate that have a zero price.
- Resolved an issue with renaming the take-off tabs.
New Database Maintenance Tools
- Added an Advanced Group Renaming tool that allows you to edit the description of items/assemblies, and the quantity take-off description and/or formal proposal text of assemblies for a selected folder. This includes all of the items/assemblies in all of the child folders of the selected parent folder. Rather than editing one at a time, this will give you the power to edit thousands of items/assemblies at a time if needed.
- Added a Group Assembly Item Manipulation tool that allows you to edit the items within all of the assemblies for a selected folder. This includes all of the assemblies in all of the child folders of the selected parent folder. You can replace items, add new items, and/or delete existing items. Rather than editing one assembly at a time, you will be able to edit thousands of assemblies at a time if needed.
- Added a setup wizard that is designed to walk you through the process of entering your default company information, overhead, profit, sales tax, and field employee information. A setup wizard icon was added to the top toolbar.
- Revised the manpower classification list to allow the deletion of existing manpower classifications.
Bid Package Documents
- Added company footer info to the footer of all bid package documents.
- Added Cell Phone and Email fields to the footer.
- Added an "Insert Company Name" feature that will insert a company name placeholder to the format proposal opening paragraph, inclusions and qualifications, and 2nd paragraph that will cause the default company name to automatically be inserted in the documents.
- If the Estimate Info tab is missing the blueprint date, latest revision date, or architect name, the formal proposal will automatically keep the appropriate reference out of the formal proposal.
- When selecting to generate the formal proposal, an optional prompt is displayed asking if you want to open the Format Formal Proposal screen.
- When selecting to generate the bid price by phase report, an optional prompt is displayed asking if you want to open the Format Bid Price screen.
- Revised the Flat Rate Price Book report to wrap the category heading lines if needed.
- Revised the Flat Rate Price Book report to remove the Regular Labor and Ceiling Labor text from the category headings.
- Any available updates are automatically installed.
- A "Log me in automatically" checkbox has been added. This eliminates the need to log in every time you open TurboBid.
- A "Switch User" icon has been added to the toolbar. The icon opens the log in screen.
- In order to display a minimum screen size, the size of the screen is based on the contents.
- Alternate line shading has been added for better readability.
- The "Select a Status" dropdown selection automatically displays projects based on the dropdown selection.
- Includes more instructional messages where needed.
- An auto play on/off button has been added.
- An "Exit Training Mode" button has been added.
- Rows that do not represent an item or assembly cannot be selected.
- When a cell is clicked, the row's description and the column's heading is highlighted for easier cell identification.
- When you move your curser over a cell, the row description and column heading are highlighted. This allows quick identification of the cell without having to select a cell.
Assembly Maintenance Screen
- The item tree section is expanded to its maximum width based on the contents of the assembly.
- Alternate line shading has been added for better readability.
- Right clicking on an item selects the item and opens the right click menu.
- Long vendor names were not being displayed in the item maintenance screen.
- Fixed an issue with the Project Detail Report in networked databases.
- Certain items were not being displayed in certain reports.
- Allowed networked databases to use a custom address for Auto Back-Up.
- When deleting a folder of items in TurboCloud, certain items in the folder could not be deleted.
- The Take-Off tabs' templates have been revised to use the material Master ID number. Local ID numbers can change and make the original templates obsolete. Master ID numbers never change.
- Click here to download the revised assembly templates.
- After adding new items to the Assembly Maintenance screen, the quantity cell is active so you can enter a quantity without selecting the item.
- Modified the Assembly Maintenance screen to allow 0.xx to be entered as a quantity.
- The report selection screen displays the first estimate and first take-off as default selections.
- The "Material" link in the "Direct Cost Detail" tab opens the material report for the selected take-off tab.
- The Take-Off tab's sort order now displays all of the material beneath each red category in alphabetical order.
Add Items to TurboBid's Take-Off Tab
- Items can now be added to the take-off spreadsheet.
- Items in the take-off spreadsheet are highlighted in a light blue color for easy differentiation from assemblies.
- Double clicking an item in the spreadsheet will open the Item's Preview screen.
- Pressing the Ctrl key and double clicking an item in the spreadsheet will open the Item's Maintenance screen.
- Renamed the Take-Off tab's Select Assemblies button to Select Material.
- The Select Material screen now includes one tab for adding Items and one tab for adding Assemblies.
Add Items and Assemblies to the Take-Off Tab's spreadsheet directly from TurboCloud
- Users can select a single Item, or multiple Items via Ctrl / Click, and select Add to Estimate from the right click menu.
- The Items in the Image Grid View include a new Add to Estimate button.
- Users can select a single Assembly, or multiple Assemblies via Ctrl / Click, and select Add to Estimate from the right click menu.
- Users can right click on an item or assembly in the take-off spreadsheet and select Locate in Tree from the right click menu.
Add Items and Assemblies to the Take-Off Tab's spreadsheet from "Load Template"
- The Load Template feature in the Select Material screen has been revised to include Items and Assemblies in the same template.
Revised the Take-Off Tab's Sort Order Procedure
- Renamed the Take-Off tab's Take-Off Sort Order button to Material Order.
- The Material Order screen now allow users to easily drag/drop folders into the order they want them to appear in the take-off spreadsheet.
- Item folders are highlighted in a light blue color for easy differentiation from assembly folders.
- Each folder's Parent folder name is also displayed so that you can easily see the difference between Flat Rate Assemblies, Standard Assemblies, etc.
- Includes a Reset button that resets the folders back to an alphabetical sort order.
The Assembly Preview screen now displays an image of every item in the assembly.
- Added the word Assembly to the end of every assembly's Quantity Take-Off Description so that the various reports clearly differentiate between Items and Assemblies. TurboCloud's Refresh and Update local Assemblies process will revise these assemblies in your local.
- Added a new Exclude from Quantity Take-Off Reports checkbox to the bottom of the Item Maintenance screen.
- All of the Material folders were removed from TurboCloud's Master Assembly Database. TurboCloud's Refresh and Synchronize local Assembly folders process will move these folders to a new Under Admin Review folder in your local. You can delete all of these from your local as long as they have not been added to an estimate.
- Prior to running an update, as a safeguard, a backup copy of your database is automatically created.
- The Item Maintenance screen has been slightly revised so that the entire screen is visible in smaller computer monitors.
Figure 1: Items in the take-off spreadsheet are highlighted in a light blue color for easy differentiation from assemblies.
Figure 2: The Select Material screen now includes one tab for adding Items and one tab for adding Assemblies
Figure 3: Users can select a single Item, or multiple Items via Ctrl / Click, and select Add to Estimate from the right click menu
Figure 4: The Items in the Image Grid View include a new Add to Estimate button
Figure 5: Select a single Assembly, or multiple Assemblies via Ctrl / Click, and select Add to Estimate from the right click menu
Figure 6: Right click on an item or assembly in the take-off spreadsheet and select Locate in Tree from the right click menu
Figure 7: Revised the Take-Off Tab's Sort Order Procedure
Figure 8: The Assembly Preview screen has been revised
Figure 9: Added the word Assembly to the end of every assembly's Quantity Take-Off Description
Figure 10: Added a new Exclude from Quantity Take-Off Reports checkbox to the bottom of the Item Maintenance screen
Figure 11: Prior to running an update, as a safeguard, a backup copy of your database is automatically created
- Removed virtual custom folders from the cloud master. These folders were intended to hold virtual copies linking to existing items and assemblies.
- Fixed a couple of minor bugs that we found when doing random sequences in the folder tree that nobody would ever do. For example: Opening an assembly maintenance screen, making an edit, closing the maintenance screen and then double clicking on the assembly would generate an error message.
- If the "Display new items and assemblies after cloud synchronization completed" checkbox is checked, after the refresh, the cloud master tree will be expanded so that you can quickly view the new items and assemblies. If nothing new was added, the newest items/assemblies that were added during the previous refresh will be displayed.
- Fixed an issue for computers with low memory. Previously, if a computer's memory was too low, if you updated an item's price, assemblies and estimates might not update correctly. This issue has been resolved.
- Improved the process of updating prices for assemblies and estimates. It is now 99% faster.
Price Update from File:
- Added "Trade/Target" to the "Update price from file" selection. This allows both to be updated at the same time.
- Added a prompt "Do you want to update the "xxxx" vendor pricing?" This will ensure that you have not accidentally selected the wrong vendor to update.
- When running a price update, a pre-check is performed to ensure that the price file includes the required data. If there is an issue, you will receive a notification of what needs to be corrected.
- After running a price update, the default exception report only displays items that were not updated in your active projects. After you close the report, a prompt will ask if you want to view all of the items in your database that were not updated.
Global Labor Unit Adjustment:
- When revising an item's price and/or labor unit, the time to update all associated assemblies has also been substantially improved upon.
- When adding new items from the cloud to the local database, the items will automatically reflect any default global labor unit adjustment you have selected.
- When creating new items, the items will automatically reflect any default global labor unit adjustment.
- Fixed an issue with the video icon not opening the video player.
TurboCloud Grid View:
- Revised the item grid view container to only display the bottom tool bar when the curser is over it. It used to always be visible on the selected item and would hide the labor unit.
- Improved the performance when opening the take-off tab. Previously, the amount of time it took to open was greatly affected by the number of projects and estimates in the database, as well as how many assemblies were in the take-off. The take-off tab now opens within seconds regardless of these factors.
Bid Price Tab:
- Improved the performance when opening the bid price tab. The tab now opens within seconds.
- Fixed an issue with creating new users in project security.
- Fixed an issue when clicking the Material link in the bid price tab.
- Revised the report that displays the items in a project that are missing material pricing and/or labor units. Previously, the report displayed the same item multiple times if it was used in multiple assemblies. Now each item is only displayed once.
TurboCloud: (View Video)
Customer Info Tab:
Bid Price Tab:
Price Update from file:
Manpower Burden Calculator:
|Receive a notification whenever new items and/or assemblies are available|
|One-click is all it takes to maintain your local database with TurboBid's cloud based master database|
The main assembly category is displayed once in black and each subcategory is displayed beneath it in red
Entire folders of assemblies can now be added to the take-off
Select Assemblies Screen - Locate Assemblies and Create New Assemblies
Assembly Maintenance Screen:
Double click on items to open the items' preview screen and quickly locate items in the tree
Add items from within the assembly maintenance screen and quickly locate items in the tree
|Report font revised and Qty Take-Off reports only display main categories|