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Estimate products enable you to add a collection of line sets, tasks, and role requests to an estimate as a product. They accelerate the estimate creation process when standard groups of services products are commonly sold together. Estimate products utilize estimate templates, which are added to estimate products as estimate product items. When you add an estimate product to an estimate, the records from the estimate templates that were added to the estimate product as estimate product items are added to the estimate. Utilizing estimate templates is useful, because if multiple estimate products contain the same template, this means the template can be edited and all estimate products containing the template will be updated.
Estimate products also utilize billing types, so you can choose whether the billing type of an estimate product is Time and Materials or Fixed Price. The billing type of the estimate is automatically updated according to the billing type of the role requests contained in the estimate. Role requests that are independent of estimate products default to Time and Materials. If no role requests exist within estimate products on the estimate, the estimate billing type defaults to Time and Materials.
Fixed price products and their records use the fixed price margin and the relevant rate card's cost rate or cost rate override to calculate the net bill amount. Estimate products billed as Time and Materials use the bill rate or bill rate override and any discounts to calculate their net bill amounts and margin. If an estimate product has a default billing type or fixed price margin, this can be changed for each individual estimate product that's added to an estimate.