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Glossary

A few common terms used in the Business System.

  • RFQ - Request for Quote, the starting point for many jobs.
  • Quote - Formal pricing proposal sent to a customer.
  • Job - Approved work based on a Quote.
  • Site - A physical or operational location for a customer.
  • Inventory Item - A stock item tracked by quantity.
  • Assembly - A group of parts and related details reused across quotes and jobs.
  • PO (Purchase Order) - Order sent to a vendor for goods or services.
  • Receiving - Process of recording items received against POs.
  • Vendor - Supplier of goods or services.
  • QBO - QuickBooks Online.
  • Project Task Type - This is a type of task that can be added to Project Templates. When a project is created, these Project Task Types become Project Tasks. The project task type can have defaults for descriptions, personnel assignment, and scheduling dates, priorities and order.
  • Task Order - This is the order in the current project that the task should be performed in. This only applies to the order of the tasks in that project.
  • Task Priority - This is the priority of this task in regard to the scheduling of similar tasks (where 1 is highest priority and 100 is the lowest). These values are used for display order in the Project Task Scheduling system.

Inventory Cost & Pricing Terms

  • Average Cost – The calculated cost of an inventory item based on prices paid from received Purchase Orders.
  • Mgmt Cost – A manual override that replaces the calculated Average Cost.
  • Sales Cost – Calculated as Average Cost × a fixed percentage (default 3.5%), plus any fixed sales cost defined on the inventory item.
  • Mgmt Sales Cost – A manual override that replaces the calculated Sales Cost.
    Note: If a Mgmt Cost exists, it is used in place of Average Cost when calculating Sales Cost.
  • Initial Sales Price – Calculated as Sales Cost × a minimum markup (default 20%).
  • Mgmt Initial Sales Price – A manual override that replaces the calculated Initial Sales Price.
    Note: If a Mgmt Sales Cost exists, it is used in place of Sales Cost when calculating Initial Sales Price.