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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 (i.e., Budget, Change Events, Commitments, Direct Costs, 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. 
  • Supported Procore Tools:
    The cost types you create using the Steps below 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. 
    This reveals the Company Settings page. 
  2. In the right side pane under 'Administrative Settings', click Cost Types Configuration
    Note: The Cost Types Configuration 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).



    The 'Procore Cost Types' page appears.
    Note: If your company has enabled the ERP Integrations tool (see Request to Enable the ERP Integrations Tool), the page title is different and you'll have additional options available. See ERP Integrations and What are Standard Categories in the Cost Types Configuration page?


     
  3. In the 'Procore Cost Types' list, choose from these options:
    • Add a New Line Item
      1. Enter the name for the new cost type in the Add a Line Item Type box. 
      2. Enter an abbreviation for the new cost type in the Add Abbreviation box.
      3. Click Add.
    • OR
    • Rename an Existing Item
      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. 
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Last modified
11:11, 21 Aug 2017

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