Including liability insurance costs in 9-5 Takeoffs
Note: This functionality is available only if you have the Estimating Module.
In the 9-5 Takeoffs window, you can use the Insurance/Tax/Bonding tab to specify what percentage of the project (contract, labor costs, subcontract costs) is subject to liability insurance and the rate at which it is computed. When you supply the percentage of the contract subject to liability insurance and the rate, Sage 100 Contractor automatically computes the amounts and adds them to the bid total.
Caution! Are the overall liability costs already built into the overhead rate? If so, do not use the Insurance/Tax/Bonding tab.
Caution! Are liability costs for payroll built into the labor burden? If so, do not use the Payroll text boxes on the Insurance/Tax/Bonding tab.
Important! There are several ways to compensate for liability insurance costs, and it is important to understand how your company does this.
Also consider the following points:
- Liability insurance is usually considered to be overhead; however, you can include it in the budget. Select the Include in budget check box.
- If you have entries in text boxes that are consistent, you can set up defaults to make the entry more automatic.
To include liability insurance costs in the final bid amount:
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1
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In 9-5 Takeoffs, click the Insurance/Tax/Bonding tab. |
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2
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Under Liability Insurance, do the following: |
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a
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In the Subject text box for payroll, enter the percentage of the payroll that is subject to liability insurance. |
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b
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In the Rate text box for payroll, enter the percentage rate at which you calculate the liability insurance. Using this rate, Sage 100 Contractor only computes insurance costs for all items assigned cost type 2-Labor. |
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c
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In the Subject text box for subcontracts, enter the percentage of the subcontracts that is subject to liability insurance. |
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d
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In the Rate text box for subcontracts, enter the percentage rate at which you calculate the liability insurance. Using this rate, Sage 100 Contractor only computes insurance costs for all items assigned cost type 2-Labor. |
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e
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In the Subject text box for the bid, enter the percentage of the contract that is subject to liability insurance. |
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f
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In the Rate text box for the bid, enter the percentage rate at which you calculate the liability insurance. Using this rate, Sage 100 Contractor computes the insurance costs for the entire estimate. |
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g
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In the Cost Code text box, enter the cost code number to which you want to assign the liability costs. |
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h
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In the Cost Type list, click the cost type to which you want to assign the liability costs. |
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i
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In the Bid Item list, click the bid item to which you want to assign the liability costs. |
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j
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In the Phase list, click the phase to which you want to assign the liability costs. |
More resources
For additional online resources for Sage 100 Contractor products, visit the Sage Customer Portal. Use the portal to access the knowledgebase, chat online with customer support, or enter a customer support ticket.
For additional training on Sage products, visit Sage University.