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Procore

Project Financials: Real-Time Labor Costing with Field Productivity

This announcement represents a single point in time. Future releases may impact the information below.
Feature Announced: February 19, 2020 /  Feature Released: March 3, 2020

 


Project Financials: Real-Time Labor Costing with Field Productivity

For Field Productivity clients collecting timecard entries in the field, Procore has released an update to help self-performing contractors minimize the risks of budget overrun due to labor costs. The labor costing updates provide project manager's with the ability to:

  • Eliminate wait time associated with inputting timesheet updates
    Project Managers commonly report wait times of one (1) to two (2) weeks between manually submitting timecard data in the field and then inputting it into a Procore project's budget. With this release, labor hours from timecard entries can now immediately be reflected in budget line items. This is supported for timecard entries in Timecard, the Timesheets tool, and MyTime. To learn how to set up a new budget view for labor costing, see Add a Budget View for Real-Time Labor Costing.
  • Gain real-time insight into labor costs to help your team better prevent budget overruns
    With real-time access, you can decrease the amount of time it takes to make positive decisions to minimize impacts on project budgeting, scheduling, and overall profitability.  
 Note
Labor costing updates are being released in tandem with the new Units of Measure (UOM) feature. For complete details on that release, see Project Financials: Enhancements for Unit-Based Financials. Both of these updates are part of a larger initiative to support future Procore enhancements. 

Workflow

Use the following workflow to set up and start using the labor costing feature.


START
START


Set Up a Budget View for Real-Time Labor Costing
Set Up a Budget View...


END
END
LEGEND
LEGEND
Procore Admin
Procore Admin
Admin on Timesheets
Admin on Timesheets
Project Manager
Project Manager
1Choose 'Labor' as the 'Default Cost Type for Timecards' setting and click 'Apply to Existing Timecards'
1Choose 'Labor' as the 'Defau...
Optional Step
Optional Step
Supervisor/Superintendent
Supervisor/Superintendent
Laborer
Laborer
2Include one or more line items with the unit-based fields set to hours
2Include one or more line ite...


Do you want to use the
Real-Time Labor Costing budget view on your project?

Do you want to use the...


Configure Settings: Timesheets1
Configure Settings: T...


Create a
Budget Line Item2

Create a...


How do you want to create the project's budget line items?
How do you want to create the p...


Import a Budget2
Import a Budget2


View a Budget
View a Budget


Laborer Timecard entry?
Laborer Timecard...


Create a
Timecard Entry

Create a...


Create a
Timesheet

Create a...
TIMECARD
TIMECARD
TIMESHEETS
TIMESHEETS


Approve a
Timesheet

Approve a...


Create a Timesheet (Android)
Create a Timesheet (A...


Create a Timesheet (iOS)
Create a Timesheet (i...


What tool are you using in the Procore web application?
What tool are you usi...


Sign a Timesheet (Android)
Sign a Timesheet (And...


Sign a Timesheet (Android)
Sign a Timesheet (And...


What is the "Timesheet Hours" Column Setting on the Budget View?
What is the "Timesheet Hours...
'APPROVED' STATUS
'APPROVED' STATUS
'PENDING' STATUS
'PENDING' STATUS
LINE ITEM UPDATED
LINE ITEM UPDATED


Are you entering time using Procore for Android or iOS?
Are you entering time...
ANDROID
ANDROID
iOS
iOS

Want to learn more?  

View a recorded webinar where we review the new unit-based enhancements for financials and real-time labor costing. Click here to watch this recording on-demand.


Common Questions


What are the new unit-based enhancements?

For complete details about the unit-based enhancements, see Project Financials: Enhancements for Unit-Based Financials.


What are the labor costing features?

The following table describes the features associated with this release.


RESOURCE MANAGEMENT
   
FINANCIAL MANAGEMENT
FIELD PRODUCTION REPORT
Revised Budgeted Hours
  BUDGET
Hours (Qty on Budget Line Items) + 'Approved' Hours (Prime Unit Qty on PCCOs)
TIMESHEETS
Hours
  BUDGET
Timecard Entry Hours

How do I set up my budget view to take advantage of these features?

You can leverage Procore's new unit-based budget columns in a variety of ways when setting up a budget view. Below are the new columns that are available:

  • New 'Standard Columns'
    • Budget Unit Qty
    • Budget UOM
    • Budget Unit Cost
  • New  'Source Columns'
    • Timecard Entry Hours
    • Prime Unit Qty
    • Direct Costs Unit Qty
    • Change Events Unit Qty
  • New' Calculated Columns'
    • Create calculated columns formatted as 'Number'
    • Use the new unit-based columns to create calculations such as Revised Budget Unit Qty, Hours Remaining, % Complete (Hours), and so on.
 Tips

How do I set up a Field Production Report?

To learn how to set up a Field Production Report, see Set Up a Field Production Report. You can add all the same columns as a budget view to this the report. 


Can budgeted units be revised in budget modifications?

No. You cannot revise budgeted units by creating a budget modification. See Create a Budget Modification. If you need to make Budget Modifications (net $0 changes) that affect your budgeted units, it is recommend that you create a Change Event. See Create a Change Event. It is also recommended that you add a Source column to your budget view using Change Events Unit Qty as the source. See Set up a New Budget View and Add a Budget View for Real-Time Labor Costing.


Can budgeted units be revised in change orders?

Yes. For prime contracts, you can revise budget units by creating a Prime Contract Change Order (PCCO).  The new unit fields are available on the change order's Schedule of Values (SOV). However, if you want your units to display on any files exported from the Change Orders tool, you will want to make sure the Prime Contracts tool is configured to use the unit/quantity based accounting method. See Configure Settings: Prime Contract and How do I set the accounting method for a commitment or prime contract?


Are production quantities supported in the budget?

No. Currently, production quantities are NOT supported in the budget. However, it is expected to be available as a future Procore enhancement. In the meantime, you can view these items in the Field Production Report. See Set Up a Field Production Report.


Can we sync unit-based details to an integrated system with the ERP Integrations tool?

For companies using the ERP Integrations tool, using the unit-based enhancements in Procore has no impact on your integrated ERP system. However, for this initial unit-based release, keep in mind the ERP connectors do NOT sync values between Procore and any integrated ERP system. Currently, the sync is amount-based only and you would need to manually enter the units in both Procore and in your intergrated ERP system. Customers using third-party accounting integrations on the Procore App Marketplace will have access to the public API endpoints. 


See Also

If you would like to ask questions or share any feedback, please contact support@procore.com.