Switch Contract Type
Every project is either Fixed Cost or Cost Plus. New projects start as Fixed Cost, so if you are a Cost Plus builder, switch this when you set up the project.
Here are the steps to follow:
Open the Overview tab
Open the project and click the Overview tab. Check the name at the top of the page to make sure you are in the right project.
Pick the Contract Type
In Project information, click Contract Type and pick Fixed Cost or Cost Plus.
Click Save
Scroll to the bottom of the page and click Save. The tabs update: the Client Summary tab only shows on Cost Plus projects.
Result: Fixed Cost
Result: Cost Plus
What the Contract Type changes
| Area | Fixed Cost | Cost Plus |
|---|---|---|
| Client Summary tab | Hidden | Shown |
| Rate on a labor entry | The worker's pay rate | The worker's charge rate on this project |
| Estimate and change order pricing | Lump Sum or Section Pricing | Cost Item Total or Cost Item Breakdown |
| Markup on an expense | Always the project's markup for that COG | The markup typed on the expense, or the project's if none is typed |
As an example, a worker with a pay rate of $30.00 and a charge rate of $65.00 logs 8 hours. On a Fixed Cost project the entry costs 8 x $30.00 = $240.00. On a Cost Plus project it costs 8 x $65.00 = $520.00.
When you can't change it
Once the project has labor logged on it, Contract Type is grayed out. If every labor expense is deleted, you can change it again. Approved estimates, approved change orders, and material and trade expenses do not lock it.
What happens to your estimates and change orders
Drafts that use a pricing layout the new type doesn't allow switch to Lump Sum (Fixed Cost) or Cost Item Total (Cost Plus). Anything locked, or already released or approved, stays exactly as your client saw it.
To learn more about each contract type, see Understanding Projects.
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