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Procore

Set Default Cost Types

Objective

To create a default list of cost types. 

Background

If your company's accounting team performs job costing, you can create a list of default cost types that can then be applied to line items in your Project level Financial tools (such as Budget, Change Events, Commitments, Direct Costs, or Prime Contract).

Example
If your company's job costing system is activity-based, you might create cost types named Direct Material (DM), Direct Labor (DL), and Overhead (OH).

Things to Consider

  • Required User Permission:
    • 'Admin' level permission on the company's Admin tool. 
  • Additional Information:
    • If you want to delete a custom cost type that was created, you will need to reach out to Procore support at support@procore.com.
      Note: Any line items associated with a deleted cost type will be reclassified as 'Other.'
  • Supported Procore Tools:
    The default cost types you create are available as selections in the following tools:  
  • If your company has enabled the ERP Integrations tool:

Steps

  1. Navigate to the company's Admin tool. 
  2. Under Project Settings, click Cost Types.
    Note: The Cost Types link is only visible when your company has enabled one of Procore's Financial tools (e.g., Budget, Change Events, Commitments, Direct Costs, and Prime Contract).
    Note: If your company has enabled the ERP Integrations tool (see Request to Enable the ERP Integrations Tool), the page title will be different and include additional options. See What are Standard Categories in the Cost Types Configuration page? and ERP Integrations.
    cost-types.jpg
  3. In the 'Cost Types' list, choose from these options:
    • Add a New Cost Type
      Note: If you want to delete a custom cost type that was added, you will need to reach out to Procore support at support@procore.com. Additionally, any line items associated with a deleted cost type will be reclassified as "Other."
      1. Enter the name for the new cost type in the Add a Cost Type box. 
      2. Enter an abbreviation for the new cost type in the Add Abbreviation box.
      3. Click Add.
    • Rename an Existing Cost Type
      Note:  A blue caret in the top-right corner of a cell indicates that the field can be edited.
      1. In the Label cell, type over any existing value.
      2. In the Abbreviation cell, type over the existing value. 
Commitment Settings
  • Lock Schedule of Values and Contract Company when commitment contract is approved or completed: Mark this box if you want commitment's with the status of 'Approved' or 'Completed' to disallow users from editing the Schedule of Values subtab. 

See Also

 

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