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What are the financial line items in custom reports?

When creating a custom report, you can select the tool Financial Line Items and see the options "Financial Line Item Details," and "Financial Line Item Summary." For more information on creating a custom report, see Create a Custom Company Report. Below we will cover potential user cases for each, and how to use them in a report. 

 

 

Financial Line Item Details

 

Adding this to your custom report report enables you to extract a log of all of their financials line items for every line item type, whether it’s a forecasting line item, commitment SOV line item, or even a PCO line item. 

Use Cases:

  • This custom report provides an alternate way to see individual transactions without having to go to each individual item in the financial tools.

    • Example:  You can use this to provide the project owner with a list of all contingency or allowance use.  This will show the amount deducted from Contingency or Allowance cost codes.  Since Contingency or Allowance use typically results in a net $0 Prime PCO, the amount used from Contingency or Allowance cannot be accessed from the Prime PCO log.

  • This report can provide insight into Unit/Quantity data (Quantity, Units & Unit Cost) per cost code for Unit/Quantity based contracts and change orders.

  • This report also produces a list/log for the Financial Mark-Up amount per Prime PCO in one place.

How to Use:

  • We include every type of financial line item in a log format, this means in order to properly use the report, you will have to filter for the proper types by bringing in the “Type” field. (ie. Budget mods, forecast line items, payment applications etc.)

  • This report enables users to see each individual line item for any given cost code.

  • This report doesn’t include ERP data.  

 

Financial Line Item Summary

Adding this to your report adds financial data summarized at the cost level to enable you to report off of their financials alongside other Procore data.

Use Cases

  • Construction executives can analyze their financial data for each cost code, so that they can see their costs and/or billings across their entire portfolio.

  • Owner clients can utilize the project square footage (entered in Admin tool) and calculate their Budget or Cost amount per line item per square foot.

How to Use:

  • This report summarizes financial information for each individual cost code. The best way to use this report at the company level is to always group by Project Name first. This will enable you to get an accurate aggregation of SUM, MIN, MAX, AVG on currency fields.  

  • This report also is best used with calculated columns. For example, Direct Costs + Requisitions would potentially give you the Job to Date Costs.

  • This report includes prime contract amount per cost code, requisitions per cost code, and pay applications, making it easy to tie other financial items.

  • This report doesn’t include ERP data yet.  

Included Statuses 

Below are the statuses for each item that are included in the Financial Line Item Summary report:

  • Prime Contract Value: A Prime Contract Value with an Approved status are shown in the Financial Line Item Summary report.
  • Direct Costs: A Direct Costs with any status is shown in the Financial Line Summary report.
  • Requisitions: Requisitions with an Approved status (but not Approved as Noted) are shown in the Financial Line Item Summary report.
  • Payment Applications: Payment Applications with any status is shown in the Financial Line Summary report.
  • Pending Commitments
    • Subcontracts with the status of Out For Pricing are shown in the Financial Line Summary report.
    • Purchase Orders with the status of Processing, Submitted, Partially Received, and Received are shown in the Financial Line Item Summary report. 

 

 

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