The way The Paint Estimator handles T&M methods is a little different than the other methods. T&M is basically for customers who you have had for a while and just calls you up and says they need you to do a job. They don’t ask for a price because they already know you are fair and they trust you. You just send them the invoice with the hours worked and materials purchased when you are finished. T&M can also be for those jobs where you just have no idea. Jobs like removing wallpaper where you have no idea on what kind of condition the walls are in after you have removed it. So this is just one more method that The Paint Estimator can do. I have had some customers in the past try to get me by asking me for a set price but to charge them T&M. This is not good as the customer gets the best of both worlds. They know they won't have to spend over a certain dollar amount but if you do the job faster they get even a better price. Say it takes you longer then expected and you go over their set price, well they win as they get the cheaper price. So either it's one or the other. You give them a set price and add a little room for the unexpected or just give them T&M and it is what it is.
So when it comes to The Paint Estimator program and you select T&M from the job info form, you will notice that it will add all the overhead and company profit to the hourly wages. As the other methods just add the overhead only. This will then give you your full rate on what to charge. Your hourly rate will include your overhead and your company profit
For me, when I do a T&M job, I don’t start the estimate until I actually have started working on the job. As each day you work, the main grid of the program will be updated to reflect the actual final price. Also the Progress page will reflect the same. You will never be over or under the budget. This is because there is no budget. “Meaning no set price”
That pretty much sums of the T&M method for this program. I don't do this method that often. Maybe 4-5 times a year and that's it. Not really a big fan of T&M as it can open the door for some issues during the job. Some customers might be watching the clock non stop, or question you if it really took that long and so on. But if you know the customer and haved worked for them a long time, it can be good.
If you have any questions at all, please let me know at firstname.lastname@example.org