In this tutorial we will cover a standard workflow to following for creating, approving Cost Estimates and through to getting them Billed. This is a thorough workflow and depending on your company size you may skip some of these steps.


   

StepTitleActorComment
1Create CEAccount ExecutiveCan be left in DRAFT and edited multiple times until ready to be approved.
2Create task to have CE approvedAccount ExecutiveAssign task to your GM or person responsible for signing off a CE, put a due date of 2 days or whatever your company SLA is for having CE's approved.
3Approve CEGM / ManagerReview CE, if changes are needed make a comment on the task and assigned back to the AE (Account Executive).
4Update CEAccount ExecutiveMake CE changes and reassign approval task back to GM and update due date.
5GM Approves CEGM / ManagerSave CE as INTERNALLY APPROVED and close CE approval task which will generate notification to AE.
6Send CE to ClientAccount ExecutiveSend CE to client using send account functionality in Magnetic and choose option to set CE as ISSUED.
7Client Requests ChangesClientEmail received by CE Owner and Job Watchers requesting changes and job comment made.
8Changes reviewed and CE updatedAccount ExecutiveAfter updating CE either resend to Client or create task for GM to approve again.
9Client Approves CEClientEmail received by CE Owner and Job Watchers giving approval.
Job comment made with approvers email address.
CE Status set to CLIENT APPROVED.
Client receives email upon approving CE, requesting a PO is sent to the CE Owner.
11Schedule Project Kick offAccount ExecutiveSchedule kick off meeting with stakeholders and Traffic to schedule work. Policy may dictate waiting for PO before starting though.
If client doesnt requires a signed PO then proceed to Step 13.
12PO sent to AEClientClient send PO to AE via email
13AE actions billingAccount ExecutiveAttach PO to Job.
Set CE Status to WAITING TO BILL.
Kick-off project work if not started already.
Create billing instruction task for FM/Bookkeeper to bill X% depending on CE terms.
14Accountant bills clientFM/AccountantCreate TI.
Close billing instructions task.
CE status will be updated to PART BILLED or BILLED depending on % billed.
If policy dictates that Accountant sends to client then do so and set TI as ISSUED else AE will action.
15AE send to clientAccount ExecutiveSend TI to Client if not done by Accountant and choose option to set as ISSUED.



Explanation of Cost Estimate Statuses


 

DraftCE is still being internally created and confirmed.
Internally ApprovedCE is approved internally and ready to be sent to the client.
Internally cancelledCE has been canceled before being sent out.
IssuedSent to client and waiting for approval.
Client ApprovedClient has approved CE.
Client CancelledClient has canceled CE.
Awaiting SignatureCE Approved but waiting for PO or signed CE.
Waiting to billCE is waiting to be invoiced to the client.
Part BilledPart of CE has been invoiced.
BilledFull amount of CE has been invoiced.


How to monitor that the workflow is working 

1. View the list of outstanding CE's that are in DRAFT or INTERNALLY APPROVED status and older than an x date that you can input. These should either be issued to the client and then approved/declined or moved to INTERNALLY CANCELLED.

2. View the list of CE's in CLIENT APPROVED, either a PO is still needed and the Account Executive must chase for one or one has been received and the CE hasn't been moved forward to billing and kickoff.

3. View the list of CE's that are in WAITING TO BILL, the accountant has not billed this CE yet and no Tax Invoice has been issued to the client.

4. View the list of CE's that are in PART_BILLED, some jobs may have progress and the remainder needs to be billed.