Assign Default Cost Types To QuickBooks® Online Standard Cost Codes
Objective
To assign default 'cost types' to standard QuickBooks® Online cost codes.
Background
In the construction industry, cost types are often assigned to cost codes to identify the specific work being performed on a construction project. To help project teams better account for their costs (especially their internal costs), it is a common practice to assign multiple cost types to a single cost code.
To understand the relationship between these two objects, keep in mind:
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A Cost Code is a code that defines the specific type of work being completed on a construction project. When using an integrated ERP system with Procore, cost codes are synced to individual segment items (a.k.a., 'cost codes' on Procore's 'Cost Code' segment, which is a tiered segment. To learn more, see What are Procore's default cost codes?
- A Cost Type is a set of costs identified by a unique abbreviation or label. In Procore's WBS, 'Cost Type' is a flat segment with these default options: (E) Equipment, (L) Labor, (M) Materials, (O) Other, (OC) Owner Cost, (S) Commitments, and (SVC) Professional Services. See What are Procore's default cost types?
You must first add Cost Codes to the QuickBooks® Online standard cost codes list in the company Admin tool before assigning default cost types in the ERP Integrations tool.
Things to Consider
- Required User Permissions:
- 'Standard' or 'Admin' level permissions on the company's ERP Integrations tool.
- Additional Information:
- You can assign one or more cost type(s) to each standard cost code. For example, both L=Labor and E=Equipment.
Steps
- Navigate to the company's ERP Integrations tool.
- Click the Std. Cost Codes & Cost Types tab.
- For each QuickBooks® Online standard cost code in your company's list, mark one (1) or more checkboxes to assign the code to one (1) or more cost type.
notes
- To apply a specific cost type to all of the cost codes in the list, double-click the desired cost type column.
- You can hover your mouse cursor over the column headings, to reveal a tooltip that shows the full name for the cost type.
- The cost type assignments are automatically saved.