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Procore

What are Procore's default cost types?

Answer

cost type is a set of uniquely identified costs represented by an abbreviation and label. In Procore, several cost types are are defined for use by default: L=LaborE=EquipmentM=MaterialsC=CommitmentOC=Owner CostSVC=Professional Services, and O=Other.

In Procore, cost types are a way to identify and classify your project's job costs. They can also be used to generate reports. See View Job Cost Summary Report. In addition, you can:

In the construction industry, grouping individual cost codes into one or more cost types is a common practice for subcontractors and other construction businesses whose expenses are primarily internal (e.g., L=Labor or DE=Direct Expenses). For general contractors, who might need to track a large number of subcontractors, it may be less common to group codes into cost types. 

 Info
If your company has enabled the ERP Integrations tool, not all integrated ERP systems support the 'cost type' concept and some systems use an alternate term to refer to 'cost type.' For details, see What are 'cost types' and how does our ERP integration support them?

Default Cost Type List

The following table details the default cost types in Procore. 

Abbreviation Label
L Labor
E Equipment
 M Materials
S Commitment
OC Owner Cost
SVC Professional Services
O Other