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Budgets & Draws
Building a Draw - Cost-Based or Cost Plus
Building a Draw - Cost-Based or Cost Plus

Create, Edit & Export a Cost-Based Draw

Matt Calvano avatar
Written by Matt Calvano
Updated over a week ago

Draws | Overview

Find Draws:

  • Jobs > Choose Job > Click Draws tab > Choose Draw

    • This list shows all historical draws for this job.

    • The list also displays any new draws created for this job.

Create New Draw:

  • Click the New Draw button on any job's page.

Draw Details:

At the top of a draw, you can expand the Export Details section to add & edit the Invoice details:

  • Job

  • Project Name

  • Export Title

  • Draw #

  • Draw Date

  • Due Date

  • Description

Beneath Export Details, the draw details are separated into 2 different tabs:

  • The Draw Schedule tab contains the following columns:

    • Line Item

    • Changes

    • Revised Budget

    • Previous Draws

    • This Draw $

    • Total Drawn ($)

    • Total Drawn (%)

    • Balance to Finish

  • The Line Items tab contains more traditional, line item-based columns:

    • Ref #

    • Vendor

    • Item

    • Description

    • Cost

    • Price

Creating a Cost-Based Draw

Adding Costs can be done within both New & Existing draws:

  1. In the draw, click the Add Costs button above:

    • The new Select Costs window shows the current list of all costs that have not yet been drawn (i.e., Drawable Costs):

      • The drawable costs are determined by the Billable Status filter (Enabled by default).

      • Clicking on a cost will take you to it's invoice. Here you'll notice that the line items are marked as Billable.

      • Billable means this line item is ready to be added to a cost-based draw.

        • Tip: If you're frequently working with Cost-Plus deals, we recommend going to General settings and selecting both of the following options by default:

          • Make all Bill line items Billable

          • Make all Receipt line items Billable

    • If the Billable Status filter is removed, all costs that have occurred on this job will appear. Then colored checkboxes will separate these costs into 2 categories:

      • Grayed-out Checkboxes (i.e., un-selectable): Costs that have already been added to a draw and thus cannot be added to any more draws.

      • White Checkboxes (i.e., selectable): Costs that have not been added to a draw, but are also not marked as Billable.

  2. Select any invoices you'd like to add to this draw.

  3. Click Add to Draw.

    • Within seconds, the selected costs will be added to the draw.

    • Then, if you click on Add Costs again, you'll notice that the costs you just selected are no longer available in the Select Costs window.

  4. Add Markup (Optional):

    1. Click Add Markup button.

    2. 2 Tab options in the Add markup window: Percent & Amount

      • Percent: Add a percentage-based (%) Markup.

        1. Under Item Name, select your Fee Cost Codes (ex: Builder's Fee)

        2. Under Percent, enter the Markup % (ex: 20%)

        3. Select Line Items to apply Markup to. (Line Items can only be added in the Percent tab.)

        4. Click Save

      • Amount: Add a Flat Markup Fee.

        1. Under Item Name, select your Fee Cost Codes (ex: Builder's Fee)

        2. Under Amount, enter the Flat Markup Fee (ex: $10,000)

        3. Click Save

    3. Now your markup has been added to the Draw.

Matching Cost Codes on the Draw:

Adaptive also has a built in, unique ability to match Cost Codes from the Invoice/Draw side with the Cost Codes from the Bill/Receipt side.

In a draw's Line Items tab, Cost Codes listed in the Item column can be manually switched out by the user:

  1. Simply click on the Cost Code's dropdown in the Item column and pick any cost
    code listed in that menu.

  2. Any changes to Cost Codes in the draw, will produce a warning message at the top of the page:

    • "You made edits to a Line Item that is linked to an Underlying Cost"

    • "Would you also like these edits to update on the Cost?"

  3. Click Yes, Update Cost button below the message to make the Cost Code on the Bill/Receipt side match the cost code change you just now made on the Invoice/Draw side.

This process will keep all of your bill coding and invoice coding in-sync.

And this prevents the confusion of accidentally misallocating Costs to one code and then Draws to a completely different code.

Exporting Draw:

Click the Export Draws button to download the draw.

  1. In the Download window, you can customize your Draw Package with the following download options:

    • Draw Package (PDF): Not editable, but has transaction pictures. Also shows a summarized Previous Draws amount, but no amount for each individual draw.

      • Cover Page

      • Invoice (No Subtotals)

      • Invoice (Subtotals by Vendor)

      • Invoice (by Category)

      • Budget

      • Changes

      • Transaction Backups (Pictures of Bills & Receipts)

    • Draw Package (XLSX): Editable, but No pictures. Shows Previous Draws amount + The individual draws that make up the Previous Draws amount.

    • Transaction Backup Images (ZIP)

      • Note:

        • Both the Invoice & Transaction Backups options contain links to PDF pictures of each transaction.

  2. Click the Download button to begin downloading.

    • Notes:

      • While waiting for your download to finish, the draw package will also be Emailed to you!

      • Larger packages can take longer to download.

      • By request, your Company Logo can be added by default to the Cover Page of your Draw Packages.

Syncing Draws to QuickBooks:

  • Sync your draw to QuickBooks at any time by clicking the Sync to QuickBooks button.

If you have any questions or want to share feedback, feel free to reach out at [email protected].

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