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Budget Price Agreements

The Price Agreements option allows representing different agreements regarding fixed prices inside the Budget on a 'per line item' basis. Price Agreements work by affecting the rates and discount of the lines they contain.

To add a new one, click on the green plus icon next to "(No Price Agreements)" in the Budget header. Enter the Name, amount of the Fixed Price, a Note and a Colour.

New Price Agreement
New Price Agreement

By flagging a Price Agreement as Default, any Budget Detail added after that will automatically be made part of this Price Agreement.

Default Price Agreement

Once done, you can start selecting which Budget Details will be affected by this Price Agreement. You can do it line by line or selecting multiple lines, right clicking and selecting Budget Details > Part Of "Price Agreement Name":

Apply Price Agreement
Apply Price Agreement

In the Budget header, the Price Agreement will display the amount connected to initial rates of each line that is part of the agreement vs the fixed price of this Price Agreement.The Price Agreement column will now display the name of the Price Agreement affecting that line and also an arrow with some options. See the View Options further down for details on how to hide and show columns.

Budget Details affected by Price Agreement
Budget Details affected by Price Agreement

These are the options when clicking on the arrow:

Price Agreement options
Price Agreement options

  • No Price Agreement: Select this option to remove that line from this Price Agreement.
  • Part of "Price Agreement Name": All Price Agreements created for this Budget will be listed
    below "No Price Agreement", allowing you to select a different one if necessary.
  • Discountable: By default, a line added to a Price Agreement is discountable meaning that it is affected by the agreed fixed price.
  • Non-Discountable: If e.g. you do not want to discount any of your personnel involved in the work, but you still show that they are part of this work.    

Options in arrow next to Price Agreement in Budget header:

Copy & Paste, and Forward To 'To Invoice / Invoiced' View options

  • Copy / Paste: Price Agreements can be copied to be used in other Budgets in other Projects.

  • Forward to "To Invoice / Invoiced" View: This option will only be available if your invoice view (typically called "To Invoice / Invoiced") is pointing to Actuals, instead of Active Budget. Using this option will cause the Price Agreements to be copied to the invoice view in the Project window. When later Actuals are attached to a Budget Detail, they also get added to the corresponding Price Agreement in the Invoice view a message pops up notifying about this. The Forecast and To Date Sell columns will not reflect the change.

    * NEW From 6.5 this also works for the "Actuals" view:

    • In the Budget window, you could already use the "Forward To Final / Invoice View" option on a list of Price Agreements, and have it automatically put actuals into that Price Agreement when you attach them to Budget Details.
      Now that also works for the "Actuals" view as well. So:
      - There's a new "Forward To Actuals View" option in the menu.
      - When you attach Actuals to Budget Details, it will perform the same auto-attaching to Price Agreements on the "Actuals" view, as it previously only did on the "Final / Invoice" view.

  • If you've already attached Actuals and later Forward the Price Agreement, you can multi-select the attached actuals and drag&drop onto the Budget Detail again to apply the Price Agreement to the Actuals.

There's also a new option to control this in the Budget window. The "Tools" menu now contains a new setting: "Forward Price Agreements To Project Views > No/Ask". Defaults to "No".
If changed to "Ask", whenever you create or update a Price Agreement on an Active Budget, you will be asked if it should get forwarded to the "To Invoice / Invoiced" and "Actuals" views.
The same will happen when you toggle the "Active" flag on a Budget.

 For more details on how the algorithm behind a Price Agreement works and how Price Agreements are applied in the Edit Project window, please take a look at the Price Agreements manual.

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