What this article covers
Note: Some budget settings, including default markup, can be set on the Company Level and/or the Event Level. The Event Level Settings will override the Company Level Settings. Changing the default markup on the company level and/or event level will not modify existing budget items.
What is Budget Markup
Budget Markup allows you to be able to increase particular items in your budget by a percentage as a part of your contract. As this is a difficult amount to add to every item in your budget we have included a default setting which will apply to every budget item added to an event
This setting is override-able at the item level, and changing settings will not affect previous budget items that have been entered.
Company Level Markup
Company Admins have the ability to set company level budget settings, including default markup, that will be applied to all events that are created within their company. This setting is helpful for companies that have a standard markup percentage they apply to all/majority of their event budgets. The default markup can always be overridden on the event level and/or on the individual budget item level.
To set a default budget markup percentage on the company level use the following steps.
- Navigate to the Company Admin portal by clicking on your account drop-down, then click on My Company.
- Then select the Budget Settings tab from the left sidebar.
- In the Budget Markup Settings section Switch the default markup toggle to to turn on the Default Markup. Then enter your desired markup percentage.
- Once you have set your percentage click at the bottom of the settings page.
Event Level Markup
Event Managers can set a default markup percentage per for all new items added into an Event.
Note: This Event level markup will override the company level markup settings. Also the event level markup can be overridden on the item level.
To set a default budget markup percentage on the event level use the following steps.
- Navigate to the Budget Dashboard for your Event and click on in the upper right hand corner.
- In the Budget Markup Settings switch the default markup toggle to to turn on the Default Markup for the event. Then enter your desired markup percentage.
- Once you have set your percentage click at the bottom of the Event Budget Settings page.
If you have previously set a default markup on the company and/or the event level then any new item added into the budget will automatically apply the set percentage.
To apply/change markup on an item use the following steps.
- Open up an existing budget item or add a new budget item.
- If you have previously set a Default Markup then new items added will automatically input the default percentage. You can also set a new percentage by clicking on the markup selection and inputting a new percentage.
- The markup will be calculated and reflected in the Grand Total column of each status.