To create line items on a prime contract's Schedule of Values (SOV) using the line items from a project's budget.
After your construction project's original budget is finalized in the project's Budget tool, it is recommended that you lock the budget. Once locked, you can use the steps below to quickly import your budget line items to your prime contract's SOV.
When using this method, you have two (2) options:
- Create one line item on the prime contract's SOV for each line item on the project's budget.
The example below shows you the line items on a budget that can be used to create corresponding line items on a prime contract's SOV. For example, 01-000-Purpose: Labour, 01-002-Instructions: Labour, 01-010 Project Manager: Labour, and so on.
- Create one line item on the prime contracts SOV for each division summary on the project's budget.
The example below shows you all of the division summaries on a budget. For example, 01-General Requirements, 02-Site Construction, 03-Concrete, and so on.
Things to Consider
- Required User Permissions:
- 'Admin' level permissions on the project's Prime Contracts tool.
- If you have created multiple prime contracts, please be aware that you can import budget line items to a Prime Contract's Schedule of Values (SOV). However, you do NOT have the ability to choose which budget line items that you want to import. To learn more, see Are there any system limitations when creating multiple prime contracts?
- Create your project's budget. See Set up a Budget.
- Lock your project's budget. See Lock a Budget.
- Ensure the prime contract is in the 'Draft' status.
- Ensure your prime contract's SOV is blank. You can only use the steps below when a prime contract's SOV has zero (0) line items.
- Set the accounting method on the contract. See Edit the Advanced Settings Tab on a Prime Contract.
- Navigate to the project's Prime Contracts tool.
- Locate the prime contract that you want to update. Then click its Number link.
NotesTo create an SOV from a budget, ensure you have completed all Prerequisites.
- Click the Schedule of Values tab.
- Click Edit.
- Under Create Schedule of Values from Budget, choose one of the available options:
- Option Button 1
This option creates one line item on the prime contract's SOV for each line item on the project's budget.
- Option Button 2
This option creates one line item on the prime contract's SOV for the summaries of each division on the project's budget.
- Option Button 1
- Click Create.