Construction Cost Tracking

Hi Guys
I thought I would share a Spreadsheet I have created to track construction costs throughout the development process.

I come from the construction industry so I understand the importance of knowing where your money is going!

The spreadsheet is more so for people / builders who do not want to spend money on a platform or service.

It's very simple.

1. You can compare costs from different cubbies
2. Once your Subby is chosen and works begin, month by month you can track the costs which you enter in that discipline.
3. If you're cost data entry is up to date you should have a snap shot at any given Time of:
   • Your Cost To Date (how much money you've spent so far)
   • Your Cost To Complete (how much money you have left in your budget to finish)
   • Your Cost At Completion (how much it will eventually cost you when everything is to be competed)
   • All this compares to your budget that you set

I'd love to get some feedback on what you guys think as an alternative to other platforms and services.


Pete

 

I would suggest hyperlinking the various sheets to the relevant item

 

Hi Qak,

There is a hyperlink on the from "Master" Tab, but maybe I should do it on the "Actual Cost Tracker" tab too!

 

I've updated it but thought I won't upload now until I make any other suggested changes

 

Have you guys used any other spreadsheets / software for any developments you may have completed?

 

One thing I probably need to add for the more serious cost tracker is the ability to add cost codes to each discipline so when sorting out invoices/ receipts it will be easily followed.

Otherwise, the use of the tab number would be a good way to track invoices & receipts prior to the data entry

 

Problem - It doesnt address GST which may be included in some but not all costs and GST inst always 1/11th of a cost. GST can often be incurred in one quarter but the claim deferred until sale or a later quarter. This info is needed for BAS, QS report and tax. Also apportionment isnt always uniform. Some costs may be incurred against specific properties or in a non-linear manner. eg Electrician No 1 does Villas 1-3 and Electrician No 2 does Villa 4 + Common areas. That will be needed if any are kept v's OTP sales

Land cost and apportionment? Often not including GST. But not always. Land that is an existing property generally needs a valuer to apportion original costs etc into lots. Simple % isnt applicable sometimes (often)

Does it assist Contractor Payments Reporting ?? ABN invoice number date paid etc...
Taxable payments annual report

What about holding costs deferred into costs ?

We offer a customised service but our developer toolkit comes with a simple duplex setup. Not aimed at a business but project related low scale devs. For a business the complexity of recognising the profit over project lifetime/s needs consideration

 

I'll download and have a look at that. Thankyou.

Wondering of anyone can provide some advice about the best way to approach the DA process. I have been using a town planner (TP) to drive my DAs with the architect/drafty drawing up the plans at the instruction of the TP.

Problem is thst is costs me a fortune as the TP costs between $140-$340/hr depending on who is doing what. Mostly it is $140/hr. The archit is only $60/hr.

The TP gave me an estimate of costs (not a fixed price) but they were grossly inaccurate.

I am trying to workout if I should have the archi preparing the documentation and submissions and just have the TP weigh in when needed e.g. SOEE, rather than preparing reports etc.

I don't mind paying for good advice but it stings to get the kinds of bills I have been paying over the DA period.

What are your thoughts? How do you go about your DA process?

 

This could be useful for anyone looking to do some residential building.

http://www.tyrrells.com/LiteratureRetrieve.aspx?ID=121391